How to Increase Property Value

Thinking about renovating your property? We’ve compiled a list of changes that can help add value to your home.

Fix major issues (especially in kitchens and bedrooms)

Perhaps the most important changes you can make are ones that fix glaring shortcomings within the property. It is tempting to give all your attention to finishings and details but these small things are unlikely to be high on a buyer’s priority list. People are less likely to care about attractive plug sockets than signs of mould or decay. Modernising the décor is not always a great strategy; nothing stays modern forever and you risk becoming outdated after 5 or 10 years.

Focus on the big things first. Does the central heating work? Is the roof in good shape? Is the garden a mess? Once the foundations are in place then go from there.

Work on bathrooms and kitchens

Make sure that kitchens and bathrooms are in a good state as the quality of both can reflect the quality of the house at large. Bathrooms can be big turn-offs to buyers and dirty lavatories can say a lot. Regrout bathroom tiles, pull-up carpets and upgrade toilet seats if they need it. Adding a bath won’t guarantee a profit and you will have to weigh up a number of factors (e.g. what are bathrooms like in other properties? Are there existing baths and is the room big enough?) A better approach is to make sure that the existing baths and showers work well.

With kitchens, it’s not particularly important to have top of the range appliances but it is vital that what you have is in good working order. Make sure that everything is clean and give the room a coat of paint if it needs it.

Insulation

Insulation is a great way to reduce bills and boost the value of a property. When insulating, go for the usual suspects and install double glazing, work on the attic and seal any doors or exposed areas. Insulation can also have the added boon of sound-proofing your property, a useful feature if it is located near a busy road or urban area.

Flooring

Old, decaying carpets are not a good sign so the prudent investor would do well to replace them when they appear. If you’re looking to rent out your property then consider swapping carpets for hardwood floors which hold up better over time and won’t require replacing.

Depersonalise the property

When buyers are looking for a property they are usually looking for somewhere that they can make their own mark on and shape according to their tastes. It follows that, because buyers are unlikely to like what you like, unique and personalised improvements aren’t likely to be appreciated.

Aim to strip things down to their basics (white or cream walls, neutral fittings). If the house feels lived in when you go to sell it then you might be doing something wrong.

Staging

Staging is almost a footnote but can leave a noticeable impression on buyers. Make sure the front door is clean and presentable and consider what your target market would appreciate, for example, flowers in the hallway, the smell of fresh coffee or a mild air freshener.