Looking for a way to boost the value of your home? Follow this handy guide for selling success!
When looking to sell, it’s natural that you’d want to get as much for your house as possible. You know that major cosmetic changes can add to a property’s value but you aren’t willing to break the bank or wait months before you can put your home on the market. Here are nine things that can add value to – or devalue – a house*, and what you can do to stand a better chance of getting the asking price.
Technological advancements have allowed us to do so much with our homes – with the right equipment you can turn on and control your heating, lights and a range of household appliances through the use of an app. Smart technology doesn’t cost through the roof and will delight potential buyers looking to save time and money, while being more environmentally-conscious. Super fast broadband, smart meters and energy use monitoring systems are also in high demand right now.
Value increase: 5%
Embrace the eco-friendly
Smart technologies are often eco-friendly, but you can go one step further by switching fridges, dishwashers, washing machines, dryers and heating appliances like kettles, stoves and toasters to newer, more energy efficient models. Energy saving light bulbs are a bonus, and offer a quick return on investment when it comes to the electricity bill.
Value increase: 2%
Mirror mirror on the wall
We all know the disappointment when you’re viewing a house and it doesn’t look as big as it did in the pictures. Strategically-placed mirrors will help make even the smallest room look more spacious and brighter, and can add to the decor too. Think beyond those that you’d hang on the wall – a mirrored coffee table could enhance a ‘cosy’ living room, for example, while a mirror-panelled wardrobe could open up a small third bedroom.
Value increase: £2.5%
What’s in a name?
Ever thought about giving your house a name? If not, then maybe it’s time to get creative. According to estate agents Wetherall, buyers pay up to 40% more for houses with a name rather than a number, and it only costs around £40 to do! You must first consult your local council if you want to name/rename your home, to avoid duplication. The same principle applies to street names; according to the Royal Mail 494 streets were renamed in 2015. This process is more expensive, however, and you must have the agreement of two thirds of residents living on your street in order to make the change.
Value increase: 2%
First impressions count
People make a judgement of character within seconds and the same can be said when viewing a house. Enhance the ‘kerb appeal’ of your property by giving your garden a makeover, even if it’s as simple as mowing the lawn and planting a few flowers, and giving your door a fresh lick of paint. A new doorknob, brass letterbox and stainless steel house number can be purchased for around £70 and will be well worth the extra cost.
Value increase: 1%
Showcase a showroom
Sometimes it really is the little things that count. Adding a few accessories like flowers, lamps and candles will help give buyers a better idea of what they can do with a property and give it a homely feel. A lit fire can also create a warm and welcoming ambience if the season demands it!
Value increase: £2.5%
Put away the pets
We may love showing off our pets to our guests, but a house viewing is not the time. Some people may be scared of dogs and/or cats and the last thing you want to do is make a potential buyer feel uncomfortable, which could lead to an early exit. Smelly pets can also result in a lower offer so it may be worth opening a window or spraying some air freshener before an appointment.
Value decrease: 4-5%
Calm the colours
We often decorate our home to reflect our personality, but perceived “bad” taste can have a negative impact on the asking price. Keeping things as neutral as possible may sound boring to you, but it’ll help buyers envision how they’ll put their own stamp on things.
Value decrease: 3%
Ditch the DIY
It goes without saying that leaks, mould and damp can put people off a house. Don’t cut corners by trying to fix minor issues like these yourself before putting your property on the market (unless you’re a professional of course). If you have to call in the experts to sort a bodged job, it’ll cost you more in the long run.
Value decrease: 5%
*Percentage estimates in this article have been based on a house with a market value of £100,000.
Jason Harris-Cohen, founder of fast house buying company Open Property Group