For many people, their house is will be the most expensive thing that they own. So, it is important that if you are planning on selling it, you manage to get the most that you can from it. The housing market is a fickle market and there are generally two factors that would usually determine the value that you can get for your property – what you are actually offering and how much the potential buyers want your property. Find out some ways to increase the value of your property in 2020.
When you are selling a house, you are selling a dream and it is important to bear this in mind when you put it on the market. Some ways to increase the value of your property in 2020 include:
1. Extra Space
Offering extra space will always be able to add value to your property. Converting a loft or cellar, for example, can help, or purchasing a storage container and converting it into an outside office, playroom or even granny annex can be a cost-effective way to add value to your home.
Creating an extra bedroom, office or more living space means that it can be more appealing to more people – as well as potentially add a little extra personality to your home.
2. Get Eco-Friendly
Projections show that the importance of having a home that is eco-friendly is becoming increasingly important to people. Most of us want to be seen to be doing our bit – but few are keen to do the work that is needed. Running an eco-friendly home isn’t too different from running a non-eco-friendly home as most of what can be done is in energy-saving measures.
Energy-saving initiatives such as cavity wall or loft insulation, adding solar panels, double or triple glazing, a new boiler or the installation of a smart thermostat can be effective in making your home friendlier for the environment, as well as cutting down energy bills – two things which can be very attractive for potential buyers.
3. Repair or Replace
The value that you can add to your property if everything is working properly and looking good is usually more than you would lose if you sold it in bad condition. Of course, there are people who are looking to buy a bargain and ‘do it up’ themselves but you will find that most people would prefer to move into a house which doesn’t require any major work – structural or aesthetic – to be done.
For this reason, ensuring that everything is working properly and in good order can add value to your house and help you to sell the dream to potential customers. This could be as basic as giving the living room a lick of paint or something more major like rewiring your house.
4. First Impressions
It is true when they say that first impressions count and therefore vital that you make a good first impression when you put it on the market. The front outside of your house is important and you want to make people love it at first glance.
You should make sure that your front door looks secure and safe as well as inviting, ensure that your front garden is tidy and maybe add an interesting feature that will make it memorable (for the right reasons).
5. Go Open Plan
Open-plan kitchens and living areas are all the rage at the moment. No longer do people want to be cooped up in the kitchen whilst everybody else is mingling, chatting, doing homework or watching TV. An open plan kitchen sells the dream of having a happy and cohesive family life as well as allowing those doing the kitchen chores to also be sociable. It suggests that you can entertain, enjoy time with your friends and also gives an overall feeling of spaciousness.
If your kitchen and living area aren’t already open-plan it is something that is worth considering as it can add significant value to your property as well as make it a lot more appealing to potential buyers. If you are planning on knocking down walls to create an open-plan space, however, it is important that you talk it through with an architect to ensure that you are not going to put your house at risk structurally, before you get the sledgehammer out.
When it comes to adding value to your property there are many things that can be done. It is important to weigh up the cost of what you are doing compared to what value can be added, but in the long run, you will generally find that you need to spend a little money to make money.
Guest blog by Ella Hendrix for Bristol Property Centre, Jan 2020