5 Ways To Increase The Market Value Of Your Property
The UK property market is thriving at the moment but is also extremely competitive. If you’re thinking about selling your home this year, what are the best ways to increase property value, without spending a fortune on extensive home refurbishments? Let’s look at the five most effective strategies to up your market value.
One of the most important things you can do before selling your property is to fix any little tasks and projects that have been left undone or half finished. This can range from basic repairs such as replacing missing or broken roof tiles and fixing leaky taps, to larger jobs such as repainting walls, fixing cracks in plasterwork, or replacing squeaky floorboards. Most of these projects are inexpensive and will go a long way towards creating a good first impression on prospective buyers, as well as increasing property value.
2. Upgrade To Energy-Efficient Appliances And Features
Investing in new energy-efficient appliances, and replacing older or faulty light fittings and fixtures, is a great way to add value to your home in an age in which energy efficiency is forefront in the minds of most buyers. Movable appliances, of course, will probably come with you, but adding or replacing fixed appliances such as solar panels or double glazing can significantly boost the market value of a property by making it more attractive and efficient. New insulation and ventilation are also plus points for prospective buyers.
3. Upgrade To An Electric Heating System
Most UK properties still use gas boilers, but the writing is on the wall for these systems, and gas central heating is also very expensive at the moment. If your property has an old boiler, consider upgrading it to a newer and more efficient model, or even upgrading to an electric heating system. Electric heating systems can be more efficient than their gas counterparts, especially if they draw electricity in whole or part from an air source heat pump. The investment required to change your heating system could easily be recouped through a higher asking price, especially when buyers are made aware of the long-term cost savings of a more efficient heating system.
4. Give The Outside Of Your Home A New Lease Of Life
The first thing a prospective buyer will see is the exterior of your property, so making sure that it looks its best is essential if you want to increase your home’s market value. This doesn’t have to cost the earth, but repainting your outside walls if they’re in bad condition, replacing old windows with modern UPVC frames, and paying attention to your front garden will all go a long way towards making your house look more appealing and attractive to buyers.
5. Refresh The Interior Of Your Home
If you haven’t redecorated or replaced the carpets and flooring in your home for a while, it may have started to appear looking tired or shabby. A fresh coat of paint – in neutral shades – in key areas will immediately make your home appear fresher and brighter, which can sometimes give buyers the impression that they are walking into a brand-new property.
Walls with bold or unusual colours should be painted over with more muted neutral shades to give buyers a clearer idea of how they could make their personal imprint on the property. Also consider investing in a few new furniture pieces. Although these will be coming with you, good, well-chosen furnishings will help create a welcoming atmosphere for buyers and show off how much space is available in each room, which is a really good selling point for people looking round.
How Much Does An Extension Add To A Property?
One of the best ways to add value to a property is to invest in an extension. We don’t recommend you do this if you’re aiming to sell imminently, but if you’re happy staying put for the next 1 to 3 years, investing in a targeted extension and home improvements you could substantially increase the market value of your house when it comes time to move.
To find out more about maximising the market value of your property, please have a chat with one of our house extension design and architecture team at DS Squared Architects by calling 0208 732 5620, or click here to arrange a free consultation.