- Birmingham Property Blog
- How to add value to your property the easy way
How to add value to your property the easy way
December 30, 2015
If you are thinking about selling your property, you may be wondering about ways in which you can add value to your home to achieve a higher asking price.
While many homeowners may view making changes to a property as an unnecessary expense or hassle, it could in fact significantly boost its value. Here are some easy ways to improve the asking price of your home…
Update the kitchen
The kitchen is often referred to as the heart of the home, but when it comes to selling, it’s more accurate to refer to it as a “make or break” room. Kitchen renovations are a big upheaval, and if your kitchen is tired and in need of remodelling, buyers are less likely to want to undertake such a job and may therefore push for a lower price, or even pass it up altogether. Open plan kitchen and dining space has become incredibly popular in recent years with one in three homes now having a kitchen-diner, so you may want to look at this when bringing your kitchen up to date. The average cost of a kitchen renovation is around £8,000, but for that, you could potentially increase the value of your home by up to 6%.
Reconfigure the living space
Not all the living space needs to retain its current purpose; with 15% of the population now being self-employed, there has been an increase in the demand for properties that contain a home office, for example. You can make your property more attractive simply by changing the purpose of rooms. It’s estimated that 90% of garages in Britain don’t actually contain a car, meaning this space could potentially be repurposed to a home gym or home office, and the driveway paved for a car instead. You could also change kid’s toy rooms into dining rooms, and even convert an empty loft to create more living space.
Carry out repairs
Again, buyers are unlikely to want to invest full asking price in a property that requires significant structural repairs. If you have any issues regarding a leaky roof, cracks in the walls or tired tiles, taking care of these now will increase your chances of listing at a higher price when it comes time to sell.
Give your property a cosmetic makeover
Simple things like de-cluttering, repainting and generally ensuring the space is bright a clean can make a substantial difference. In fact, by doing some cosmetic changes, you can add between 5-10% to the value of your property.
Go open plan
Open plan living has increased in popularity hugely over the past decade, especially in neighbourhood with families that have young children. Knocking down an internal wall can cost around £1,000-1,200 depending on the work required, but can add a big boost to the value of your home.
Create a feature
Adding things like a feature wall in the living room can really make a difference. You may want to install a freestanding electric fireplace, or add some wallpaper and a statement mirror to easily change the feel of a room and increase it’s appeal to buyers.
Create a conservatory
A conservatory is a great feature that can add more square footage to your property, and therefore significantly increase the value. With an average cost of between £5,000 and £6,000 for materials and labour, a conservatory can add between 7%-10% to the value of a property.