Whether you’re looking to sell your property in the very near future or are looking to add value gradually for when the time comes to put the house on the market, there are many ways you can increase the price of your property and its appeal to potential buyers.
There are specific projects which have been proven to boost the value of a property. However, it is essentially up to you on how much you are looking to spend and the amount of work you can take on for the renovation.
If you are keen on working your way up the property ladder, you will need to pay close attention to how to make a good investment later on down the line when it comes to selling. Here are several projects you can look into to dramatically increase the value of your home.
Resolve structural issues
Before you can think about redecorating or remodelling the interior of your home, you need to ensure that all the fundamental structural problems are taken care of first. The likes of subsidence, leaking roofs, cracks to the walls, or collapsed floors should be the priority as to where your renovation budget is spent first and foremost. Although fixing these issues can be costly, they are essential if you wish to add value and gain the attention of potential buyers. Although some buyers are looking to carry out renovation projects when on the hunt for their ideal property, too much concentration on the structural issues can be off-putting, so don’t limit your market by refusing to take care of the basics.
Convert your loft
A typical loft conversion is far cheaper than building an extension, so if your attic is empty and there is plenty of space to make use of, renovating the interior would be a great way of adding value to your home. Although this will be another costly investment, it will certainly pay off when it comes to selling up.
Lofts can be used to create another bedroom, playroom or even an office when space is limited within the rest of the home. Unlike extensions, loft conversions don’t usually require planning permission, as you’re using existing space within the property. However, there may be occasions when you need to apply for planning permission if the conversion is visible from the front of the property, so it’s always worth checking, just in case there are any legal implications to be aware of.
Getting rid of interior flaws
Although a few minor flaws within the interior of the property won’t necessarily lose value, they may put many potential buyers off, meaning you will be forced to settle for a much lower value than the initial asking price. Typical defects such as cracking paint, mouldy sealant in the kitchen and bathrooms, dripping taps, loose tiles and broken windows can be easily fixed by a DIY job or seeking the assistance of a professional.
Add a pool to the garden
Did you know that installing a swimming pool in the back garden could boost your house value by up to 7%? Be aware though, that there are a lot of maintenance costs to bear in mind after the initial cost of installation! Therefore, it wouldn’t be a good idea to invest in a pool for the sole reason of selling up, but instead, enjoy it for a few years beforehand while you’re still living in the property, so it becomes a worthwhile investment.
According to Houselogic, installing a pool has even more chance of adding value to the home if you live in a higher-end neighbourhood where potential buyers are looking for luxury features. The pool also shouldn’t take up the entire garden space. Instead, you should still have enough room to be able to walk around freely and add garden furniture without difficulty. One of the most popular choices of pools is known as gunite pools, which can be easily customised to a selection of shapes and sizes, lengths and depths. Find out more about gunite pool cost today.
Adding an extra bedroom
One great method of adding value to the property would be to add another bedroom to the living space. As mentioned, you could decide on converting the loft or adding an extension, but these options aren’t always necessary.
You could change up the existing interior by splitting the space by removing and adding walls which is an extremely cost-effective way of integrating another room to the home. However, be sure that there is a suitable balance between bedrooms and bathrooms, as buyers may be on the lookout for a suitable floor plan when it comes to accommodating guests.
Re-design the kitchen and bathrooms
A well-designed kitchen is one of the fundamental aspects potential buyers look for when viewing a property; therefore, if your kitchen is outdated and doesn’t feature all of the necessary amenities, you may struggle to sell your home. Consider aspects such as its shape, function and position in the home and work out whether any structural changes need to be made.
Similarly, buyers are also on the lookout for contemporary and hygienic bathrooms that will add a touch of luxury to the living space. In most cases, it would be wise to rip out the existing bathroom entirely if it is several years old and start over, but if you have recently renovated it, you can still keep it looking fresh by painting the walls a neutral tone and ensuring you incorporate as much natural light as possible.
Here are a few necessities your bathroom should feature:
- At least one shower, as this is an essential feature that most buyers require
- Check the plumbing system and decide whether you need a mains pressure, combi, or gravity fed system
- Replace tiles that are chipped, stained or an out-of-date colour, which may be off-putting to the buyer
- Add a few mirrors to enlarge the space, especially in very small bathrooms