Selling your home marks a significant milestone in your life, signifying you’re moving on to new beginnings. Whether you’re purchasing your dream home or downsizing in preparation for retirement, moving is definitely something to look forward to.
Before you list your home on the market, it may be prudent to improve its value as much as possible to ensure you earn the most from the transaction.
Continue reading to discover eight interesting ways, ranging from the expected to the surprising, that you can impress potential buyers and improve the value of your home before you sell it.
1. Consider open-plan renovations
Not only can open-plan renovations help usher more light into your home and create inviting, communal spaces, but they can also boost the value of your property.
In fact, research from HomeOwners Alliance reveals that while an open-plan renovation could cost around £3,500, it can add £48,000 to the average London property or £27,000 to an average home in Dorset.
Better yet, the renovations tend to be a relatively simple project and could be completed in under a week, meaning you won’t be disrupted by works for long, and you can focus on selling your home.
2. Fit a new kitchen
Kitchens are the heart of a home and can easily make or break a deal for prospective buyers. Outdated and poorly maintained kitchens can even invoke thoughts of lack of care, and viewers may believe they’ll need to spend money on renovations in the future, which could deter them.
As such, it may be worth fitting a new kitchen if your existing one needs work. In fact, the Post Office website shows that kitchen renovations represent the best value returns, with £7,500 costs returning as much as 26% on the value of your home.
You could even combine this new kitchen with an open-plan design by connecting it to your dining room, transforming it into a multi-functional space.
3. Spruce up your garden
It’s also important not to overlook your garden before you sell your home, as it can also affect the value of your property.
MoneyWeek reveals that a well-presented garden can add up to 15% to the value of your home. This doesn’t even need to be expensive; simple actions like clearing away dead plants, pruning excessive foliage, and introducing new and vibrant greenery can make a substantial difference.
If you’re willing to spend more, you could even go one step further and hire a landscaper to install some new paving slabs or decking to spruce up your outdoor space.
Moreover, your garden may benefit from a purpose-built room, such as an office. HomeOwners Alliance reveals that this could add around £36,000 to a home in Surrey or £10,000 to a property in London.
4. Add a parking space
If parking is scarce in your area, adding a new parking space to your property could be a game-changer. Granted, you may need to pave over part of your garden, but this could significantly improve the value of your home.
Indeed, the estate agent, John Minnis, reveals that a driveway is the eighth most important factor for house-buyers when searching for a new home, with 84% stating it could be a deal-breaker.
What’s more, a driveway could increase the value of an average home by 2% to 5%, depending on the location of your house, the size of your driveway, and its quality.
5. Convert your loft
If you struggle to get planning permission to build an extension before selling your home, you could always convert your loft instead, as you typically don’t need permission to do so.
Unbiased suggests that a loft conversion adding a double bedroom and bathroom to a three-bed, one-bathroom house can add around 20% to the value, or 24.5% to a two-bed house in London.
It’s important to remember that you may need to install a staircase for a loft conversion, which could take up space, and the costs may vary depending on the structure of your roof, whether your home is detached or terraced, and how much space is available.
Regardless, the conversion could add additional living space to your home and increase its value, so it may be worth looking into before you sell your home.
6. Improve the energy efficiency of your home
Improving the energy efficiency of your home can not only reduce the cost of your energy bills, but also surprisingly improve the value of your property.
Indeed, MoneyWeek reports that installing energy-efficient home improvements, such as double-glazed windows, insulation, or solar panels, could boost the value of your home by up to 16%. On top of this, the same source shows that 20% of buyers would pay more for an energy-efficient home.
While energy-efficient home improvements tend to be relatively expensive, you could apply for grants to help with these costs. For instance, MoneySavingExpert states that you could receive a £6,000 grant for a new boiler in England or £7,500 in Scotland (rising to £9,000 in rural or island homes).
7. Decorate your existing living space
You don’t always need extensive renovations to add value to your home. Instead, something as simple as redecorating can suffice.
HomeOwners Alliance reveals that by spending around £1,000 on new décor, you could add around £5,000 to your home’s value.
Also, don’t forget about the exterior of your home. House Beautiful states that 25% of Brits would pay more for a home with a fresh coat of paint to the walls, and other attractive kerb appeal features, such as a new door, clean windows, and a well-kept garden.
8. Declutter and deep clean your space
A relatively inexpensive way to improve the value of your property is simply to declutter your living space and give it a deep clean. In fact, Ideal Home reveals that a cluttered house can decrease its value by an average of £9,290.
Not only could a declutter improve your home’s value, but it could also save you some money on moving costs.
Moreover, the same source shows that an impeccably clean bathroom and kitchen could add £8,966 and £8,882 to your home, respectively.
Ensure you eliminate any bad smells while you’re cleaning, too, as unwelcome odours can make a wrong first impression to prospective buyers, and the above source states that this could knock £8,946 from the value of your property.
Get in touch
If you’re considering selling your home in the near future, we can guide you through the mortgage application process.
Please email enquire@london-money.co.uk or call (0207) 808 4120 to find out how we could help you.