Unfortunately, house prices are like buses. They’re unpredictable and never reliable no matter how much time you spend looking into the finer details. One thing many homeowners in London are doing is looking into extra ways to add value to their properties before selling.
A great way is to learn how to increase the value of your house as well as the property as a whole. Back in 2015, house prices fluctuated, rising, then falling and then rising once again.
Unfortunately, you can’t tell what’s going to happen, so there isn’t much point in trying to beat the system. However, you can put your home on the front page of property sites and make them more appealing, increasing demand and making your property worth considerably more than it was 12-months ago.
During this week’s article, we’re going to discuss a number of useful ways that you can implement into your properties to help boost its value. Please note, some of these suggestions may require a significant investment on your part:
- Build a loft conversion
- Extend your property with a conservatory
- Utilise the garage space
- Redecorate the exterior
- Create something that isn’t easily available
Building a loft conversion can add up to £40k!
The value of most residential properties is generally based around the number of bedrooms and bathrooms that are built into the home. The easiest way to add an extra room and bathroom is through a loft conversion that exploits the unused space right above your head.
And what makes it even better is that a loft conversion is relatively hassle free as the majority of the extending works can be completed externally using scaffold and access equipment. However, don’t rush into getting a loft conversion for the sake of it; it needs to look natural.
There’s nothing worse than seeing a property with a loft conversion that looks completely out of place. If it looks natural then it is certain to add value.
Phil Spencer, the property expert reckons that a £20k loft conversion can add an impressive £40k to the total value of your home – so why would you want to miss out on that?
Extend your home with a space enhancing conservatory
Just like a loft conversion, if you’re going to invest in a conservatory, the import thing to remember is to make it look natural and like its part of the buildings natural design.
The last thing you need is for your newly built conservatory to look as though its been thrown onto the back of your home.
If you really want to give off the illusion of space, make sure that you continue any design and colour schemes into your new room. This has proven to help create an aura of space.
Utilise the unwanted garage space:
Did you know that there are an incredible 90% of residential garages built into UK homes that don’t actually store a vehicle of any kind?
Just think of the value that you can add to your home with an extra living space or utility room. Many garage conversions are used to house domestic appliances such as fridge-freezers, washing machines and dishwashers and a conversion could add up to £30k to your final value.
For example, we complete a number of removals in London and the average price per square foot is £1125.
If you create a new room with a total square footage of 2089 (the average size of a standard double garage) that’s an incredible £23k added to your home!
Make the effort to redecorate the exterior . . .
What’s the first thing any potential buyer will see as they approach your property for a viewing? That’s right – the house.
Now if your home has been poorly maintained with residential cladding corroding and roof tiles all dirty, then they’re already thinking about how much they can knock off the asking price.
At the very least, you want to be ultra competitive with your neighbours. Make sure that you’ve cleared the driveway, tidied up any potted plants, cleaned your windows and unblocked your guttering.
It may seem a little silly, but just by doing this alone could add up to 5k to your asking price.
Create something that isn’t easily available:
Ask anyone that has used our man and van in Chiswick, finding a suitable place to park is an absolute logistical nightmare, so why not take advantage and look to exploit the opportunity that’s presented itself?
If you house is one of five on a buyers shortlist and yours is the only one with off-road parking, you’ve got a significant advantage over the others in the nearby area, especially if its on the same street or cul-de-sac.
Off-road parking is like gold dust in London, its not very frequent and its incredibly rare to come across a property that has it so if you’re going to do it, make sure you do it right.
Don’t forget about the presentation. It may seem a little silly and low on the list of priorities but it’s worth it. Make sure that the flowerbeds and any plants are well maintained, healthy and look good. If there’s anything there that looks a little tired, consider removing it.
The only downside with adding off-road parking is that you may need planning permission to complete your project. The best way to get this is to contact your local council and submit a planning request.
Your request will then go to a panel that will assess you request and provide you with a simple yes or no in a few weeks time. Unfortunately, if your planning request is denied, you wont be able to continue with your project and you may need to look at alternative options to increase the value of your home.
Adding value to your property isn’t done overnight and it can take a lot of patience. However, you can find comfort in the fact that your investment will come up trumps in the future, potentially adding between £10-£50k with refurbishments and extensions.
Consider the following improvements to your home if you want to start improving your homes market valuation:
- Build a loft conversion
- Add an extension or conservatory
- Convert your garage
- Improve the external appearance
- Add off-road parking