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| Creating more space in your home won't be cheap, but should reap dividends when you sell. | Image Source: theguardian.com |
If you’re thinking about adding value, you are probably also thinking about moving in the short to medium term. This means the first thing you need to consider is whether you want to add value or just make your home more sellable. Making your home more sellable is all down to aesthetics: get everything really clean, sort out your front garden, change the ironmongery on your front door if it is drab, give everything a lick of paint, put down new carpets, change dreary light fittings and tidy up the back garden. It’s all very cosmetic, but first impressions definitely last.
Creating more space Adding value, on the other hand, is all about adding space. Loft conversions are just one idea: extensions, garage conversions, conservatories and even a studio or glamorous garden shed at the bottom of the garden will all provide extra rooms in your house (albeit a garden room in some cases). They’re going to cost you money, but they are also going to increase the asking price of your home.
Basement conversions are another very good way of adding value, but these can be costly to do and are only worth it in areas with very high property prices per square foot, like London. An easier way to utilise cellar space is to waterproof the existing space, paint it, add a good mechanical ventilation system and some decent lighting and turn it into a utility/storage room. This way, it won’t matter if there are no windows and the headroom is restricted. A room like this will always be a great asset and selling point in a family home.
Little improvements can make a big difference If your budget doesn’t stretch far enough to choose one of these options, or you can’t create extra space because of the type of property you own, it is still possible to add value in other ways. Any general improvements that make your home more comfortable or energy efficient will help increase the selling price. This could be double glazing (or triple glazing, especially if you’re near a busy road); replacing the boiler; rewiring, or insulating to a high specification. If you want to make your property stand out from the crowd, consider changing your kitchen or bathroom: it’ll make your home look hygienic and smart and appeal to all those buyers looking to move into a property that doesn’t require work.
Think smart Relatively minor changes can make your home feel more spacious. Start by decluttering – this can make your rooms seem bigger straight away. Fit some fully integrated storage units for the things you do want to keep. If your budget stretches to more than this, consider installing underfloor heating (removing radiators frees up valuable wall space) or reorganising the internal walls to give more space to the rooms that really need it.
Make sure you have dealt with any rotten windows, cracks, damp, broken downpipes, missing roof tiles or rusty radiators before you give the estate agents a call. A surveyor will pick up on these immediately and then your buyer will ask for a reduction.
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