In this current climate, many homeowners are concluding that it’s better to stay put rather than move. This is because house prices are very high and many people don’t want to take on extra debt to upgrade.
However, adding features to your own property can be, in many ways, a better deal. This is because you can take your time when spending money and hopefully increase the value of your property along the way. We asked a leading estate agent in Notting Hill for their top tips when it comes to adding value to your home and here are their answers:
There are many ways you can extend your home. For example, basement conversions, despite being the most expensive form of extension (and widely covered by the London press as they are proving popular in Prime London), can still add value to your home. However, you would need to do a proper cost/benefit analysis in order to get your money’s worth. It is also very important to examine the structure of your property, so you will need to hire specialists and while renovations are underway, you’ll need to move out for a few months and this can be enormously disruptive. Another, perhaps easier option is to add a loft extension – an easier way to get an extra bedroom and bathroom. It’s not particularly disruptive, as the work can be done on the exterior of the house. It’s also easier to add value to your home – you can often double the value of what you spend but make sure you do your figures.
As well as this, you could build a conservatory, but again, this needs planning to ensure it doesn’t simply look like something just placed on the back. Try to make sure the conservatory matches your property and isn’t a completely different style. Apparently a conservatory can add some seven percent to the value, while a full-blown extension adds 11 percent, according to figures.
2. Paint your home
This is very simple but effective. If you’re looking to sell your property, you need to attract people to the property from the get-go. Creating a minimalist effect is one way of making a property look spacious and clean. This can be done well by painting walls white. You could also clean and paint the front of the house and make sure the windows are clean so that the house stands out in your neighbourhood.
3. The kitchen and the bathroom
Yes, it really is true. Selling your home DOES often mean having a large, attractive kitchen and clean, glistening bathroom. Why not take a step back and think as to whether you would buy your own property based on these two rooms. Many families are attracted to properties that have large kitchens as if they have children they want space to cook for them. As well as this, kitchens have now become the showpiece of the home. People cook, work, watch television and entertain in kitchens. Make sure workplaces are clean and that there is easy access between the fridge, cooker and sink. It’s also a good idea to ensure the kitchen looks modern and updated with the latest mod cons. Impressions count!
The same goes for the bathroom. Keep things simple and minimalist – chrome towel rails, toilet roll holders and silver mirrors. Don’t try anything fancy with the bathroom if it’s small – if it’s larger you could afford to experiment a bit more, with claw-footed bath tubs, creative tiling and flamboyant mirrors.
4. Get planning permission
Even if you’re not looking to extend, you can simply make money by getting planning permission to do so. A survey costs about £1,500 or so, but your property will also be put into a higher league, as buyers will feel happier to put offers on your property if they know that the local authority has agreed to an extension.
5. Change the front door and windows
If a buyer comes to your home, what would be their first impression? Is your property smart? Does it have a nice door and windows, or does the exterior look attractive or cheap and nasty? Is it secure? These are all things to consider, especially if you live in an expensive city like London or Chicago in the U.S. Have a look at other doors in your neighbourhood to get an idea of what may suit your home. If your windows don’t match your house, try changing them to suit the age and style of the property, but don’t do anything just for the sake of it.