Enhancing the value of your property
While waiting for the dust to settle after the Brexit vote, now might be a good time to carry out improvement work on your property. Done cleverly, this can be a great way to boost the value of your property as well as making your house easier to sell when the time comes to move.
There are some potential projects that could help your house stand out from the crowd when you enter the sales process. These include:
Fixing any structural issues
Here we’re talking about significant improvements such as fixing rising damp, mending a leaking roof, repointing chimney stacks, repairing significant cracks and replacing any missing roof tiles.
Attending to any wiring or plumbing issues would also help you navigate a smoother journey through any home buyer’s survey.
This sort of work won’t come cheap, so it’s worth getting advice and quotes from a few different builders or surveyors. When done though, they’ll help make your house stand out from the competition.
Spruce up the place
Now we’re talking paint…..and sealant and plaster! Fix cosmetic cracks, apply new paint, replace dripping taps, clean sealant around baths and showers and so on. First impressions count when it comes to selling your house and collectively, things like this will make a big difference.
Adding to the value of your home
There are more significant projects that could give your property value a boost such as:
How and where you add extra square footage will of course depend on your house. If you’re able to do it, extra space is usually a surefire way of adding value. Roof space conversions, extensions, extra bathrooms, a larger kitchen and such like will all add value
Other things being equal and accepting that there are many factors involved, it’s likely that the bigger the footprint of the building, the higher it’s likely value add. Extensions won’t come cheap and depending what you’re taking on, could cost anywhere between £10,000 and £40,000 for a modest 1-2 storey extension.
How much value it will add depends where in the country you live. In London property costs can be anything from £5,000 and £10,000 per square metre, while in other parts of the UK, £900 to £2,000 is more likely. Again, talk to experts and do the math based on your plans before undertaking such a significant piece of work.
Add a conservatory
Adding a conservatory to your home can be a quick way of adding space. Your addition can usually be added without planning permission and, if you get the right builders, shouldn’t take too long to put up.
How much value you add depends on a number of things. Make sure that the feature is in keeping with the rest of your house first and foremost. Think about ensuring the space can be used all year around by adding double glazing and central heating. Finally, if your back garden faces north, you might want to think of another project. The occasional British sun when it shines is a must!
Adding a new kitchen or bathroom
Great kitchens and bathrooms really do help sell a property. Depending on your budget, a little or a great deal of improvement is possible. Even replacing aging cupboard doors could add value, while for extra wow factor, new lighting can come relatively cheap.
At the other end of the scale, starting from scratch could really transform both rooms. Don’t just replace like with like from a space perspective either. This is a chance to start with a blank piece of paper. Think about shapes, positions and features. It’s likely that if you spend wisely, the more you spend, the more value you’ll add to the overall property.
Add central Heating
If your house doesn’t have central heating, think seriously about adding it. Central heating will almost certainly add more to your property value than it will cost. For an average 3-bedroom house, new heating will likely cost around £3-4,00, but get experts to assess the best solution for your property. Take the opportunity to look at the overall energy efficiency of your house. There’s not much point adding central heating if the heat sails straight out of your leaky windows or poorly insulated walls.
Adding new double glazed windows can add value to a property. New PVCu windows are now widely available and require little maintenance. They’re also very secure and provide excellent energy efficiency.
Be sure to think about how the windows will look. Adding or maintaining character should always be at the front of your mind.
Don’t undertake any building work lightly. Make sure you get any permissions in place early and always spend the time to find the right tradesmen for the job.