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Spring into action and add value

Wednesday, March 28, 2018

Spring into action and add value

With the long Easter weekend approaching, almost 75% of UK homeowners consider making home improvements. Whether you are preparing to move or looking to improve your home, it’s important to consider the cost of a project and what value it is likely to add. A good estate agent can advise you on this as they’re best placed to recommend what could help you sell your home quickly or at a higher price within your neighbourhood.

If you are selling, it makes sense to present your property at its best to avoid any reason for negotiation on price. Often buyers overestimate the time and cost to refurbish a house and reduce their offer accordingly. A well-presented house gives a buyer confidence that the property has been well looked after.

Interior condition is vital: de-cluttering and cleaning inexpensive but obvious ways to increase the value of your home and its chances of selling. A fresh coat of neutral paint is a good idea giving the property a crisp, new feel to potential buyers. If you are planning to “DIY”, check whether your home insurance covers you for accidental damage! If you don’t have the right skills, it may be prudent to pay a professional to do the job!

Additional space is likely to enhance your property’s value as well as adding comfort; a new conservatory, loft conversion or extension should all add value if done sympathetically to your property. It may be worth thinking about moving internal walls to create a new room as this could cost less than extending and be less disruptive, whilst still adding perceived extra space and WOW factor.

The main improvements which add value are central heating, double glazing, a new kitchen or an extra bathroom. Costs vary but in general can yield up to twice the value of the work. Now is a good time to consider spring reductions on “winter products” such as fires, wood burners and heating systems. Experts advise that new double-glazed windows add up to 10% in value and make a home more cosy and saleable. But quality matters. An additional bathroom costing £4-20,000 can also add 10%.

New to the “value added” list is faster broadband. Superfast broadband via cable or fibre-optics means you can stream TV, music or data without delays, with all members of the family using it at once. Broadband use has become so entrenched in people's lives that it can be massively important to buyers choosing a home.

Revamping your kitchen can certainly add value to your home. Buyers tend to look for spacious kitchens with integral appliances. You can just give your kitchen a makeover, by upgrading doors and worktops. Just make sure to factor in as much storage space and work area as possible.

A covered patio with bi-fold doors from the house can give the feeling of an extra reception room. With good lighting and patio heaters, you can enjoy it throughout the year. A sunken garden with a fire-pit really has the wow factor, and can add £thousands to your property in the process. Gardens can be the poor relation when it comes to adding value but if a garden is well kept and designed, it's a real plus point.

With outdoor space at a premium, consider what type of buyers you’ll attract when you come to sell. Young professionals may want a low-maintenance garden with outside entertaining space while families look for a safe play environment. Tips from garden designers include clever use of colours to brighten up a space, adding curves to paths and mirrors to make an area look bigger. Low maintenance doesn't have to be boring. A water feature can add a focal point and the tranquil sound of running water.

Always ask your local estate agent’s advice, about major changes and their effect on your property's saleability. Your home’s value is partially determined by that of your neighbour’s homes, so don’t overextend or take your property’s value out of line with the neighbourhood. To get more advice on selling your home, including the best way to list your house once it is in top shape, visit our website. Or for a free, no obligation appraisal of your property call your local Frost Partnership office.


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