How to add value to your home in a slow market: Property experts reveal 10 easy changes for a price boost
- House prices in the UK are predicted to rise by just one per cent in 2020
- Homeowners can add value by making simple inexpensive changes
- Property experts reveal their top tips to boosting asking price of your house
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House prices aren’t going anywhere in the short term, say analysts.
Agent Savills, for example, believes UK-wide prices will rise only one per cent in 2020 with a few regional variations – such as two per cent rise in the Midlands and one per cent fall in London.
So the only real way to add value to your home is to make it more attractive ready for the traditional spring buying season.
That gives you about 12 weeks to turn your old place into the next owner’s dream home.
Property experts have given their ten key changes to make to add value to your home in 2020
‘Sprucing up and cleaning, and improvements that create space and privacy give a great first impression,’ says the National Association of Estate Agents’ Mark Hayward.
‘Don’t over-personalise decor so it appeals to buyers, and let them adapt the property to fit their needs.’
Experts say ten key changes should make quick-fire returns.
1. Cut out noise
Noisy roads are one of the major reasons homes take a long time to sell and often attract offers well below asking price.
So double glazing has a triple boost — it keeps the house warmer, makes it quieter and improves sale-ability.
2. Lag those pipes
Fit solar panels and effective loft and pipe insulation, even if you know you will have moved before the running cost reductions kick in.
Raising the classification of your home’s Energy Performance Certificate can add thousands to its price.
3. Convert the loft
Easier said than done in a short time, but given the money and a builder, this will be a big earner; it could cost as little as £20,000, but add 15 per cent to a home’s value, especially if there’s an en suite bathroom.
Always use an architect and check the council’s building regulations.
Refreshing your bathroom could add up to three per cent on the asking price of your home
4. Tidy up
‘Make the best of every single square foot that you’ve got,’ says TV property makeover guru Sarah Beeny.
‘There’s usually lots of wasted space in corridors with piles of coats, or shoes in the hallway. Think of clever ways of storage so you can make that space feel bigger.’
5. Refresh the bathroom
You can do this without spending a fortune, yet it could add three per cent to the asking price, according to the Nottingham Building Society.
Low-cost updates could include new taps, shower heads, loo seats and flooring — at a fraction of the cost and disruption from a full-scale renovation.
6. Add parking
If you don’t have a garage or off-street parking, consider sacrificing the front garden and add up to five per cent to the house price into the bargain.
You may need planning consent to pave the lawn and the council will want paying to ‘drop the kerb’, plus you are advised to use a porous material for drainage.
Parking: Adding a driveway to your property can add up to five per cent on the asking price
7. Kitchen style
You’re after a fresh look here, not a complete refurb. Start with new handles and worktops, and look at spray painting existing cupboard doors. Keep it tidy.
8. Build a conservatory
‘You won’t need planning permission, so long as no more than half the area of the land of the original house is covered,’ says Robert Nichols of the Portico estate agency.
He says they can add ten per cent in value.
9. First impressions
Smarten the front door with new numerals, gleaming ironmongery on the windows and railings, plus a window box or two.
Hide bins in a store and keep the front lawn neat and tidy.
10. Plan an extension
Always get an estate agent’s guidance first to ensure you are not over-developing your property.
Have an architect design outline plans and secure the council’s planners agreement. It will give buyers an idea of the property’s potential.
For sale… and newly improved
This Bedforshire cottage has parking
1. Bedfordshire: The front garden of this two-bedroom cottage in Riseley, built in 1700, is now off-street parking
However, there is still a rear garden.
Contact: Peterlane.co.uk, 01480 860400.
This Wiltshire home has been extended
2. Wiltshire: This four-bedroom home in Brinkworth has been extended and renovated.
It has a dual aspect sitting room and off-street parking.
Contact: Knightfrank.co.uk, 01285 897527.
The Suffolk home has been renovated
3. Suffolk: A Victorian semi in Little Thurlow that was renovated last year to include a new kitchen, en-suite bathroom and flooring throughout.
Contact: Jackson-stops.co.uk, 01638 662231