21 Jan How to Add Value to Your Home Before Selling
How to Add Value to Your Home Before Selling
When it comes to selling your home, it’s important to maximise its value in advance. Otherwise, you could find it harder to move up the property ladder as quickly as you would like.
So, with this in mind, we thought we’d compile a few of the best methods to add value to your home, helping you not only increase its total profitability but also maximise the amount of money you’ll be able to use when purchasing somewhere else.
Invest in a new heating solution
With the importance of climate change all the rage right now, property investors are becoming more and more attracted to homes that are built and run with energy efficiency in mind.
Therefore, investing in a new type of energy-efficient heating solution could not only add value to your property but it could also attract more vendors through your doors.
Whether it be a ground source heat pump, air-source heat pump, biomass boiler or selection of solar panels, there are a number of heating solutions currently available that can quickly improve the energy efficiency of your home.
Oil tanks, for example, are relatively cheap to install and when correctly maintained are designed to last for decades, providing potential investors with a heating solution that is as efficient as it is durable.
Convert your cellar or loft space
If you have an existing cellar or loft space, converting it into a living or storage space could increase your property’s value by up to 30%.
What’s more, generally speaking, this form of renovation is one of the easiest forms of home improvements, since you often won’t need to apply for planning permission in advance.
However, it’s important to check this in advance just in case you encounter any potential issues later on down the line.
Turn your house into flats
A popular option for properties located within city centres, converting your house into separate flats, could add significant value to your home, while also helping maximise your rental income over the short term.
Then, later on, when you decide it’s the right time to sell, having converted flats ready and waiting could attract multiple buy-to-let investors and encourage a quicker sale.
However, before you get started on converting, it’s important to do some initial research to make sure that there is actually a demand for flats in your area. Otherwise, it could wind up being a bad investment.
Convert your garage
If you don’t currently use your garage for your car, transforming it into an extra room in your house could be a shrewd investment, adding approximately 15% potential value to your property.
In a similar way to converting your loft or cellar, renovating your garage doesn’t normally require planning permission but it’s always a good idea to double-check with your local planning authority in advance.
Likewise, before you get started with the renovation, it’s also imperative to make sure your garage is both structurally sound enough to be converted and will abide by the regulations required in key areas, including the drainage, electrics, walls and the roof.
Add a conservatory
Adding a conservatory to your home will provide you with an extra bit of space to utilise for a wide variety of purposes.
Whether it be setting up a home office, using it as a mancave or simply extending your living room, conservatories can add up to 10% potential value to your property and are well-suited to both modern and traditional lifestyles.
Again, however, you will need to check whether you will need to apply for planning permission – most of the time, building a conservatory is considered to be a permitted development but it’s always important to check.
Utilise your outside space
If you have a garden available at your property, you can substantially increase your home’s value by utilising it effectively.
Regardless of how big or small your outside space might be, adding a deck or patio to your garden can quickly transform it into an entertaining space that will appeal to potential vendors.
What’s more, first impressions count for a lot when selling, so, why not improve your home’s kerb appeal by adding a quick lick of paint, a new door or power washing the entranceway.
Selling your home can be a difficult thing to do. However, by utilising the hints and tips listed above, you can help maximise its value to ensure you receive the best price possible.
The key thing to remember is to always check with your local planning authority in advance of making any structural changes. Otherwise, you could wind up losing more money than you’re able to get back when you do manage to sell.