The factors that most influence property value are location, size and type of property, which are expensive to alter and sometimes impossible. But did you know that there are plenty of relatively easy and cheap ways to increase property value?
1. Update your front door
By sprucing up your home’s exterior and boosting kerb appeal, you will not only create a better first impression during viewings, but you can increase its value, too. Painting or rerendering the front of your home is pricey, but updating your front door can cost less and have a huge impact. As well as considering aesthetics, focus on increasing security, durability and weather tightness of your new door to really add value.
2. Spruce up key areas
A lovely kitchen can increase your home’s value, but you don’t need to fork out for a brand-new one. Give your kitchen a makeover by updating or repainting cupboard fronts, replacing handles and updating the sink and taps. Clever integrated storage will help attract buyers and push up the price, too.
3. Obtain planning permission
Extending a property to create more square footage can send your property’s value skyrocketing, but is costly and time-consuming. So consider obtaining planning permission and selling with this already in place. It can boost your house price and take a weight off a buyer’s mind if they want to extend.
4. Check your EPC
Homes with higher energy efficiency ratings, especially those in bands A and B, tend to carry a premium. So check your energy performance certificate (EPC) to see what you can do within budget to nudge your score upwards. If you’re close to a higher band threshold, even something as cheap and easy as updating your lightbulbs to energy efficient versions could tip you into a higher, more lucrative energy band.
5. Redecorate strategically
Full-scale redecorating can be costly, but even a lick of fresh paint can make a huge difference to the look and feel of a property – and the price a buyer is prepared to pay for it. Give some thought to the colours that would enhance your home, thinking about levels of natural light and aspect, and use colour-matching services to achieve a premium look without the extra cost.
6. Make the most of the garden
Outside space is hugely desirable, so maximise whatever you have, whether it’s a sumptuous garden or a bijou balcony. A nice garden can add thousands to your property’s value, so make sure it’s looking its best when you come to sell. Think about creating usable space – add seating to a sunny corner, or carve out an outdoor dining space.
7. Ask the experts’ advice
The last thing you want is to waste time and money making changes to your home that won’t actually add extra value. So don’t guess – instead, ask your estate agent what home improvements will help your property fetch a higher price in the current, local market.
Wondering what your home could be worth – and what might increase its value? Contact Graham & Co for a free valuation.