In recent months, the economic climate has seen a positive change, with house prices across Britain shown to be on the rise again, after many years of decline following the credit crunch. At the same time, interest rates and unemployment rates are at a record low, giving consumers much more spending confidence.
For many homeowners these changes are the perfect opportunity to sell, especially with some house prices higher than at the markets peak in 2007.
However, whether you’re planning on selling to move or you’re looking for your next big investment, how can you get the most of your sale? Here are our top tips for increasing the value of your house. Even if you’re not looking to move, these tips are a great way to make the most out of your available space:
1. Convert your loft
The easiest way to add an extra bedroom is by converting your unused loft space. If you have the space, by adding an ensuite bathroom or a second bedroom, you could increase the value even further. Using your existing loft space is a very cost-effective option and it will make your home much more appealing to buyers.
2. Add an extension
It is not surprising that a well-planned extension to your living area will add value to your property. Consider developing your home to allow for more open plan living, creating a space where you can cook, dine and relax. If it opens up to the garden too, it will not only create a beautiful and light space, but it will increase the value and create a huge appeal. If you don’t want to build an extension, try moving or removing internal walls to create the feel of more space. However, make sure you don’t lose any rooms as this could devalue your property.
3. Redesign your kitchen or bathroom
Your kitchen and bathroom are often the most important rooms of your home and first impressions can instantly help buyers make a decision on whether to buy. Make sure these rooms are in good condition, look fresh and clean but are also simple, to suit most people’s tastes. Although installing a new bathroom or kitchen can be expensive, it will attract buyers and add value to your home.
4. Build a garden room or conservatory
If you have the space, get the most out of it by building a conservatory or for an all year around space, a garden room. This will add value to your house by adding an extra room, however, the light and airy room will add much more appeal to a buyer.
Don’t forget that styling and maintenance can also have an effect on a buyer’s first impressions. Adding a simple splash of paint in a neutral colour can make a big difference. Although this quick face lift may not significantly increase the value of your home, it will prevent buyers from being put off, or from reducing their buyer price. Make sure you fix any structural problems and services too. Although viewers may not be aware of them, it is likely someone coming to value your house will.
Most importantly, if you’re making these changes to sell, carefully stick to a budget and make sure you do not spend more than what the changes are worth to your property.