The value of your home and what makes it worth the money it is, will depend on multiple factors. Some of the factors determining and influencing the value and saleability of your property will be out of your control and will be difficult or impossible to influence, for example, market conditions, the property’s area and its desirability and the overall level of demand for properties of a similar nature and in the local area.
When you get a property valuation, there will also be many factors whoever is valuing the property will need to consider before providing you with the value of your home.
However, there are numerous things you can do and actions that you can take as a seller to improve your property’s value and make it more appealing to prospective buyers, boosting what you can sell it for.
Here are ten top tips to improve your property and warrant a higher asking price.
1) Add Kerb Appeal
First impressions count and make all the difference and so, the exterior of your property is just as important as what is inside. Impress your potential buyers from the moment they see your home by making sure that the outside is well-presented from the kerb side.
A few ways to do this could include a neat front garden, adding plants, ornaments or lights or painting a fresh coat of paint on your front door. These little details are fairly low cost but have a big impact and if you are looking to sell a house fast, can make a big difference. If you are willing to invest a bit more, new walkways, pavement or driveways are higher cost but come with a higher return.
2) Refresh, Retouch and Redecorate
Intensive work on any property can be hugely time-consuming and may well be expensive. However, smaller superficial changes can be quick, cheap and make a world of difference when it comes to your property’s value.
It may seem like a cliché, but a fresh coat of paint can go a long way; experts even say that a fresh coat of paint throughout the house could increase the sale price of a home by up to 5%. Other superficial changes that can make a big difference are replacing old fixtures like doorknobs or lights as well as things that have experienced wear and tear like worn out carpets.
3) Make Your Home More Energy Efficient
Energy efficient houses are becoming increasingly popular and the demand for them is on the rise, especially due to recent surges in energy prices.
Energy efficient appliances for example can be very appealing to prospective buyers who are looking to reduce their utilities bills in the long-run. If your home is in need of new appliances, opting for the most energy-efficient products (although it may be more of an investment initially) could help to get you a higher sale price and appeal to more potential buyers.
In addition, draught-proofing a property and making sure it is less susceptible to the outside and the elements; staying warm in winter and cool in the summer can further boost the value of a house or home.
4) Increase Your Square Footage
The square footage of your house or home has a big impact on your home’s market value. Extensions, conversions and the addition of a basement are not always a feasible option for many households.
However, there are other ways you could maximise your inside space and increase the value of your home. Simple and low-cost changes you could make might include putting up drywall and installing carpet in an unfinished space to make it usable. You can also create the illusion of more space through the way you position your furniture and light your home.
Conservatories are another useful and popular way in which to increase the overall floor space of a property.
5) Invest In Your Kitchen and Bathrooms
If you are going to invest money in any areas of your home, focus your attention on your kitchen and your bathroom.
According to real estate experts, these are the areas that offer the greatest return on your investment (sometimes 100% or more). The cost of your remodel will depend on how much labour you will be outsourcing and the materials and finishes you choose.
Before investing, make sure you know how much of an upgrade these changes will make on your home’s current condition and how much they could potentially impact the property value.
6) Choose Low Maintenance Materials
In addition to the initial cost of a home, potential buyers will be thinking about their ongoing costs such as utility bills and the cost of maintaining the property they are looking to buy.
This means that homes which require constant maintenance and fixing will be off-putting for those viewing your home. Any improvements that you can make to make your home easier to clean or maintain, such as kitchen surfaces, siding or floors, could increase your home’s value. Replacing a component such as a water heater, furnace or the roof before selling could mean that you can demand a higher price.
7) Improve Your Outdoor Space
Though not always a viable option for everyone, adding an outdoor area to your home can make it more appealing and therefore valuable to prospective buyers and could increase the speed at which you make the sale.
Patios, for example, are highly sought-after and can add around 8-10% to your home’s value. Although building a patio can be a big investment, a cheaper option could be refinishing or repairing an existing patio; these small changes have the same impact but can be done at a lower cost. Experts suggest patio repairs could provide a return on investment of up to 500%.
8) Make Your Home Smarter
More and more, potential buyers are interested in smart technologies in their home including thermostats, lighting, door locks and carbon monoxide detectors.
Although it doesn’t strictly add value to your home, it can make it more appealing to buyers and set your home apart from other properties with a modern touch. Adding smart technology to your home can be done at a fairly low cost and can usually be self-installed meaning that you don’t need to waste money on labour costs.
9) Stage Your Property
Staging your property can help to optimise your space making sure to enhance the amount of space, the amount of natural light and highlight the best features of your home.
Setting up your furniture in a particular way and assigning a function to different rooms will help buyers imagine how it might be to live in the home. Making sure to remove any personal items at this stage is also important as it will help buyers imagine themselves and their belongings in the space.
10) Declutter and Deep Clean
Deep cleaning should be done before showing your property so that potential buyers are seeing it at its best. This includes dusting hard-to-reach places, mopping floors and surfaces and even repainting any small marks or stains. Decluttering is also crucial; take time to rid your house of excess clutter and junk and use the opportunity to take your spare electronics, clothes and other things to a local charity shop.
Decluttering and cleaning up is a great way to get you on track for selling a property fast, as it is low-cost and fairly easy to do.
Not only will this make your house more attractive to buyers, it will also give you a head start for when you are moving as you will have fewer things to take with you.