How To Add Value To Your Home
Whether you want to let it or to sell it, it is important that your property is reaching its full potential. There is always going to be a desire to achieve the most rental income that your property possibly can, and sell for the highest price that people are willing to pay; and there’s absolutely nothing wrong with that!
Recent research from the National Home Improvement Show reveals that if homeowners looking to sell spend up to £5,000 on their property, they can significantly boost the value of their home. This could include anything from decorating to deep cleaning.
If you’re looking to let your property, you may also want to spend some time cleaning and checking that all furniture pieces are useable and in good condition. Either way, you need to ensure your property looks desirable to your target audience; if you’re planning to let your property furnished, having all your furniture in the best condition is especially important and can be the difference between pennies and pounds when negotiating with potential tenants.
Ask yourself how much you would be willing to pay for the property and why? If you’ve lived in the property for a few years, you get used to that crack in the paint or the stiff drawer but in a viewing, that can really turn people off. Putting yourself in the shoes of prospective buyers or tenants can help you highlight areas of your property that need improving.
We would recommend you go to see similar properties in your area; see what condition they are in and how much they are on the market for. Also, speak to agents in your area that you trust – they will advise you on what buyers or tenants are expecting in the recent market, with regards to the condition of a property and the price.
Put On Your Rubber Gloves
The first way to add value to your home is to clean and clean some more! Whether you hire a company to do this or you do it yourself, spend as much time as you can making your property look as clean, tidy and clutter-free as possible. This can make such a difference and does not cost the earth.
Get The Paintbrush Out
Secondly, paint the walls a fresh neutral colour throughout your property; this gives the buyer/tenant a blank canvas. If more permanent features need updating, such as your kitchen, you could always just replace the cupboard doors. If your bathroom is looking slightly grubby, try re-grouting instead of buying new tiles, which can make it look as good as new without having to pay for a complete renovation. These simple renovations can inject new life into your property and wow potential buyers and tenants without breaking the bank.
Get The Builders In
Naturally, larger renovations like remodelling a bathroom or adding an extension such as conservatory can add value to your home.
If your renovation budget for your property is quite limited, we would recommend that you focus on ‘the money rooms’. A term we use a lot in the industry, the money rooms are the main rooms that appeal the most to potential buyers and tenants. These rooms include the kitchen and bathroom, so you want to have these in the best condition and, if your budget is limited, these are the rooms you want to focus on.
Just spending time and investing a little money initially in your property can reap you great benefits in the future.
So if you’re looking to let or sell your property this year, spend some time getting it in a good, clean condition. If you need advice about any of the above topics, FleetMilne are of course here to help.
If you would like more information or would like to find out more about FleetMilne’s sales services, please call Kirsty on 0121 366 0458 or email [email protected] . For more information on our Property Management, please contact Gemma [email protected]