A new lick of paint, mowing the lawn, a bit of de-cluttering… sometimes the little things can add as much value to your home as the big DIY projects. Find out the five best ways to add value to your home!
A bit of simple DIY can work wonders. Not only can it boost your property price, it can make a previously unsellable house an estate agent’s dream.
But beware amateur DIY disasters that end up doing more harm than good. Bubbly wallpaper and badly cut carpet may lead to a missed sale. So it’s a good idea to get professional help where you need it.
If you’re thinking of selling, take a look at our five top tips to get the highest possible house price.
5 Ways to add value to your home
1. Put in a new bathroom
Avocado-coloured bathroom suites, anyone? All the rage once upon a time, but bathrooms can quickly look shabby and dated. The good news though is that you can get a new one for as little as £1,500.
Better still, a new bathroom should add value to your home in the region of £3,351, according to research from HSBC.
This is a much better investment than a new kitchen, which often costs between £10,000 and £20,000 – but only adds an average of £5,267 to the overall value of your property.
2. Decorate and de-clutter
More than half (60%) of property valuers who took part in the HSBC Home Improvement Survey said that the number one way to increase a property’s chance of selling quickly (and for a good price) was to de-clutter.
Think about it this way – if you were looking to buy an off-the-peg interview outfit, you wouldn’t choose an over-the-top luminous yellow dress with hand stitched embroidery and sequins over a simple black design.
Home improvement is based on the same principle, if you want to add value to your home; keep it neutral, light and simple.
A quick splash of paint really can work wonders on tired-looking walls – allowing you to add value to your home for little outlay.
3. Add an extension
Building an extension or conservatory adds an average of £12,151 to the value of your home, according to HSBC. Unfortunately, most extensions cost between £20,000 and £30,000 so are not an option for many people.
Conservatories, on the other hand, typically cost about £10,000, making them a more worthwhile investment if you are looking to sell.
Or if you’re thinking about a loft conversion (generally costing between £10,000 and £30,000) it will typically add up to more than £20,000 to the value of a property and so is probably a better bet.
4. Energy efficiency
With all properties on the UK housing market now coming with an energy efficiency report, it’s a wise idea to do what you can to reduce the energy consumption of your house or flat.
Putting in new double glazed windows, for example, adds £5,265 to the value of the average property and can reap big rewards when it comes to energy efficiency. Investing in a high-efficiency boiler will also attract ecologically minded buyers, as well as those keen to avoid all their money going on heating bills.
Mark Hayward, president of the National Association of Estate Agents, said: “The challenging UK housing market conditions mean that house-hunters are even more aware of a property’s pros and cons.”
5. Outside space
First impressions are important. But while 63% of the HSBC survey expert respondents said that repainting or varnishing a front door would make a difference, only 23% of homeowners recognised this.
Peter Dockar at HSBC said: “It is often the smaller jobs like painting the front door that can make all the difference when looking for a sale.”
You can also add value to your home by making sure the back garden is at the very least neat and tidy. If it’s a jungle out there, new-buyers won’t be able to see the wood for the trees!
Finally, don’t forget that off road parking or a garage can often prove attractive to buyers of all kinds.
Figures from Nationwide Building Society show that adding a garage, which can cost anything between £8,000 and £25,000, can increase the value of your property by 11%.
Have you got any tips on quick wins to add value to your home? Tell us what you think in the comments below.