Increase the Market Value of Your Property with Home Improvements
If you want to increase the value of your home before advertising on the housing market then here are a few basic improvements you can carry out in the meantime that will help to maximize the return on your investment.
It has been estimated that getting new kitchen fitted can increase the value of a property by around 5% or more, although you will need to make sure you set a budget and stay within that limit as any overspending will obviously have a negative effect on the amount of money you can expect to see as a profitable return. Using the figure of 5% as an approximate guideline if your home has been valued at £200,000 then a new kitchen could increase this amount by £10,000. It should go without saying that you need to spend a significantly lower amount than this on any improvements you make. By getting a brand new kitchen fitted with brand new units, flooring, lighting fixtures and work tops you could easily find that you are adding very little additional value to your actual investment if you are not benefiting financially from your efforts.
The best way to save on costs is to shop around and seek out a second hand kitchen that is in excellent condition, or even an ex-display kitchen from a showroom or large DIY store. Value for money is the key consideration here, and you also want to ensure that your new design is clean and contemporary without going overboard using your own personal tastes as a barometer. You definitely do not want to put a potential buyer off by getting carried away with bold and bright colours or anything that other people might consider unusual and not to their liking.
A new and improved bathroom is another great idea for increasing the overall value of your property and there are many bargains and discounts to be taken advantage of here, particularly if you shop online for second hand bathroom suite that is still in a nice condition and practically as good as new. One of the most affordable things you can do in order to improve the look and feel of your bathroom is to replace existing features which are way past their prime.
For example, a heated towel rail with a chrome finish will look much better than an old wooden rail that is hanging off the wall! You could also replace the shower curtain with a glass door, grout the tiles, get new taps fitted and replace an outdated shower unit with something that is decidedly more modern.
Creating Additional Living Space
If you are selling your property to a young couple or a growing family then increasing the living area in your home is an excellent way to bump up the asking price. Adding an extra bedroom or two can be an exceptionally profitable exercise and, if you have the available funds, a new conservatory or kitchen extension is also a great idea.
If you do want to add more rooms to your home then you could think about getting the loft converted into a large bedroom or study. Another good plan is to convert the garage into an additional living room or bedroom but you will need to make sure that your new room matches the rest of the house.
One of the first things that anyone will see or notice before entering your home is obviously going to be the front door. If you are stuck for inspiration, you could easily take the dog out for a quick walk around the block and have a peek around the neighbourhood to see if there are any designs you fancy that will look good on your house. Of course, new doors can be expensive and the idea here is to spend as little as possible in order to keep your profit margin healthy. Therefore, instead of going the whole hog with a brand new, solid oak door with all the whistles and bells, it might be an idea to give your existing door a bit of a facelift as an affordable alternative.
Elegant adornments, such as a brass door knob with a matching letterbox and numbering will give any wooden door an air of grace. Also, you could easily put a couple of outdoor plants next to the entrance of your property as a finishing touch. Although they won’t add millions to the worth of your house, they will make your property look more homely and inviting.
Change the Flooring
Laminated wooden flooring has been an immensely popular choice amongst tenants and homeowners throughout the last ten to fifteen years. However, this is a trend that has started to fade somewhat, with more and more property owners opting for high quality, competitively priced carpets and rugs instead.
The problem with hard wooden flooring is that it can be quite noisy, especially at night when the little ones are in bed. Wood flooring also provides very little in terms of heat insulation so, if you can afford it, getting new carpets fitted around the home is another good way to increase the value.
These days, it’s hard to imagine any modern home not having double glazing fitted as standard. New windows can be very expensive but they will seriously add to the worth of a property whilst improving the energy efficiency of your home. Whether you opt for white PVC frames or wooden effect window frames is a decision that should ultimately be governed by overall look, feel, style and age of your property.
If you are going down this road, you also want to make sure that your new windows are in a similar style to your doors so that everything matches perfectly. Also, it’s a good idea to remember that a lot of buyers will simply walk away if you don’t have double glazing windows fitted.
A Place to Park
Depending on where you live, finding a good spot to park the car at the end of the day is another consideration that prospective buyers will take into account. If you have a front garden with ample space, paving over a section of lawn or getting a driveway installed is another way to increase the value of your property.
Being able to park the car right next to the front door offers additional security and it also makes life much easier for those with walking difficulties. To save money, ask a couple of firms for a competitive quote and then phone around and see if you can get a rival company to get the job done cheaper.