Whether you are a homeowner who is looking to increase the equity in your property or someone who “flips” houses as a way of making money the mission is the same. Making improvements to a property will mean it is worth more and done well a lot more. It is with this in mind that here we look to offer some advice on ways of adding value to your property.
The capital you invest in a loft conversion often doubles in terms of the value it adds to the property. That is to say, spend £25K and it will add a whopping £50K to the value of the property. It is easy to see why when you consider that most conversions end up being used as an extra bedroom – sometimes with an en suite.
Similarly, converting the basement of a property into a useable space will add considerable value – the equation is simple more space equals more value.
What works at the top and bottom of the house (loft and basements conversions that is) will also work on the ground level. Adding a conservatory, for example, may well add around 5% the total value of the property. If, however, you are looking to add value but don’t want to spend a lot of money, there are still steps you can take to do so.
Redecorating and Staging
Making sure you are optimising the space inside a property will add some value and the best place to start is to redecorate. Strip everything back, give each room a thorough deep clean and then put up wallpaper and paint in a style that suits the property’s design.
Next, select some fantastic new furniture and fittings to give the place the wow factor. Now, with the interior of the property looking fresh and funky, turn your attention to the exterior.
Paint the Exterior
To increase the kerb appeal of your property, start by painting the outside of the house. This is relatively cheap to do, between £500 and £1K, but can increase the value of the property by as much as £5K – now that is a great return on investment.
Fix Up the Garden
Needless to say, if you are looking to add value to your property, you will want to ensure that the gardens at both the front and rear are looking smart and well maintained. But there are other things you can consider besides painting the fences, gates, cleaning and tidying. If parking is at a premium, paving the front garden to make parking spaces can add a staggering £50K to the property in some areas – so well worth thinking about.
No matter what your budget there are strategies you can follow that will make your property look better, provide a better space to live in and add value.
Disclosure: This is a collaborative post from Heals.