If you’re looking to sell your home at any point in the next few years, you have probably thought about ways to add value to your property. Not only will you get to raise your asking price, but your house should sell faster as well, especially if you have added features that today’s home buyers find irresistable. On the other hand, you could try to add value to your home, but in the process do it a disservice. By making mistakes in your renovation plans, you can just as easily put off home buyers. Avoid any potential disasters then, and consider the do’s and don’ts in this article.
DO extend your home. There’s nothing a home buyer wants than more space. This can be useful for those with larger families, but there are those who want the extra space for a very specific purpose. It could be a home gym, office space, a games room etc. To add value, you do need to bring in the professionals, especially if you don’t know one end of a hammer from another. A conservatory is an inexpensive extension and immediately adds value to your home, especially if you have the luxury of a larger outdoor space. Another popular extension is a loft conversion, whether you convert it into an extra bedroom, bathroom, or leave it vacant to allow the buyer’s imagination to (literally and metaphorically) fill in the gaps.
DON’T blow your entire life savings on a home extension. You still need to budget, as you do have a mortgage to pay on your new property, as well as those hidden costs that come with a house move, so be wise with your money. Instead of extending your home, you could get the ball rolling for the buyer instead. Speak to an architect, draw up some plans, and lay out the possibilities available for anybody interested in buying your property. If you do start the home extension yourself, don’t go overboard. Limit yourself to one area of your home if your finances are sparse, and don’t waste time filling the added space. You don’t need to buy a lot of new furniture or home decor, as the buyer needs to imagine living in your property themselves, with their own tastes. You can give a taster, of course, so a decent set of curtains from Online Curtain Fabrics will add beauty to the room, and a mirror or two to enrich the natural light is a good idea. But when it comes to heavier furniture, leave that to the home buyer, as again, you don’t want to blow your funds trying to secure a sale.
DO upgrade the rooms that matter. Home selling experts tell us to focus on the kitchen and the bathroom. These are the rooms that apparently sell houses, so you should consider investing in modern trends in kitchen and bathroom design. Again, watch your spending. You don’t need to invest in new appliances, as the buyer will probably be bringing their own. However, you can upgrade the storage space in each room, add quality fixtures, and replace anything that is looking shabby to up the chances of a sale.
DON’T upgrade anything that will ruin the style of your home. So, if you are living in a country home, for example, with rustic decor and an old-fashioned feel, you don’t want to modernise the house. The very reason why your home is appealing may be the period features, as they add oodles of character to the property. Tearing out an original fireplace, or replacing vintage fixtures, is a sure-fire way to reduce the value of your property rather than enhancing it. There may also be a need for planning permission too, especially if you are looking to upgrade your home exterior. Modernising the outside of a property, for example, is probably a big no-no, especially for those of you living in conservation areas.
DO think about the needs of the home buyer. These will often correlate with what you look for in a property, so renovate and extend towards areas of practical worth. One example is parking space, so think twice about renovating your garage, unless you have a driveway big enough to accommodate multiple cars, or have street parking available. Speak to a letting agent, and do your research online, considering the needs of your target buyer, be they millennials, or those looking to retire into a property.
DON’T limit the practicality of your home. For example, you might consider adding an en-suite bathroom at the expense of one of your bedrooms, but this won’t suit those home buyers with families. You don’t want to add a swimming pool either, as this will limit the garden space, and create a hazard for anybody moving with younger children. When in doubt, take the safer option and leave certain parts of your house alone. The home buyer can do what they want when they move in, so don’t rush into something without thinking of the wider buyer’s market first.
We have offered a few do’s and don’ts for you to consider, but let us know about your experiences. Is there anything you wish you had done differently when trying to add value to your home? Have you seen anything that has put you off from buying a house? Do you have any good ideas in ways to raise the value of a property? Leave a reply below with your thoughts.