We frequently get asked here, at Louis Taylor, how homeowners can add value to their current homes. Making improvements can ultimately add more value whilst also breathing new life into a property, but it can sometimes be hard to know where to start. Adding value can allow you to work your way up the property ladder at a quicker pace but it requires a strategic approach…
Below, we will look at some of the top home improvements to increase your property’s value and boost its selling power. However, before you make any big decisions, we would recommend speaking to one of the Louis Taylor team who will be able to advise you on what sells in your area and to discuss any amendments that may or may not add value to your property.
1) Fix any structural problems:
Although your home may look beautiful, there is no bigger turn-off to a potential buyer than finding out the roof needs replacing or the electrics require a complete re-wire. It is worth remembering that these types of defects are likely to be expensive and disruptive; precisely the reason why your potential buyer will run a mile…. Consider carefully whether the higher price your property can demand, outweighs the finance cost and inconvenience of getting the work done.
2) Get a loft conversion
A loft conversion is the most cost-effective way to gain extra living space, and according to Nationwide Building Society, a loft conversion with a double bedroom and en-suite can add an estimated 21% to the value of your home. Some loft conversions may require planning permission so make sure you check this out before starting any work. You will also need to inform your home insurer of any changes.
3) Add an extension
Extensions care vary from house-to-house, from two storey extensions that can double the size of the existing property, to smaller extensions that can result in the addition of an additional room downstairs. You should try not to sacrifice too much of the garden when planning an extension as this can deter buyers. A well-thought out extension that adds good-sized extra rooms can be a major selling point and can boost its selling power.
4) Install a new Kitchen
The kitchen has long been thought of as the centre of the home and it can be a make or break on the sale of a property. Many existing kitchens can be refreshed by changing the doors and worktops as opposed to shelling out for a whole new design. Opt for a clean, neutral design that isn’t likely to offend any potential buyers and make sure there is adequate lighting.
5) Refresh your Bathroom
Renewing your bathroom suite with fresh taps, a new shower screen and some fluffy towels can make your home more saleable while only incurring small costs. Adding a couple of mirrors can make the space appear larger and brighter. Make sure that at least one bathroom has a shower as this is essential for most buyers. A fresh, clean looking bathroom is crucial when showing anyone around your property.