Thinking of selling your home now or in the future? Maximising its value is a great way to boost your financial standing and level up on the property ladder. There are various ways you can go about it, from extensions to renovations and beyond.
What appeals to different buyers is somewhat of a mystery, although research from Hammonds reveals that 40% of Brits regard décor as a top priority when looking to buy. We explore the ways you can add value and decorate your home to sell quickly in this article.
More usable space
The biggest additions to a property’s value usually come from larger projects such as extensions, loft and garage conversions, and structural or layout changes. The more usable space a home can offer, the more buyers are typically willing to pay for it.
An extra bedroom is estimated to add up to 15% to the value of a property, but bathrooms, home offices, utility rooms, and storage can be just as important for prospective buyers. Consider if you can add new space or make more of what you already have.
Renovations
Most people can afford to invest in renovations as opposed to new buildings and big structural projects. Fortunately, renovations and decoration can still have a big impact on how buyers value your home.
Coming back to the earlier findings from Hammonds, interior decoration is a priority for men (46%) more than women (36%) when viewing houses to buy.
Interestingly, particular décor styles can influence how much people are willing to pay. The average person would offer nearly £4,000 over the asking price for a minimalist home, and some 12% of 18-24-year-olds would offer up to £10,000 more for one. Gen Z are big fans of minimalist design it seems. Bold colours and clutter, on the other hand, are things to avoid.
In general, renovations such as refitted kitchens, new boilers and radiators, and upgraded windows are also highly valued by prospective buyers. These are bigger investments but you’re likely to see your money back.
Exterior upgrades
When looking to add value to your home, it’s always worth looking outside as well as in. Kerb appeal is a crucial factor and can have a direct impact on property value. Fresh coats of paint, tidy driveways, and neat gardens all help to make the right first impression which will hopefully extend to the interior.
Garden offices are increasingly in demand since the pandemic and may give you a welcome break from the WFH life if you’re still living it. Installing something permanent can be included in the property valuation and increase your home’s appeal to buyers.