Increase Property Value

Adding Value to Your Property

If you’re thinking of moving, there’s a whole host of quick fixes and less-than-quick improvements you could be making to your property to help increase the market value.

In May 2015, The Mirror reported by adding an extra bedroom, you could add £157,202 to the value of a house in London, or £45,949 in Scotland. The cost of that extension is estimated to be around £35,000. Ensure you contact your local council for advice before you carry out any alterations.

Sainsbury’s Bank, have published a useful ‘Guide to Improving Your Home’ which looks at everything from small fixes such as squeaky floorboards and painting your front door, to adding an extension to your home. The Guide initially provides ideas to make small changes to your home cosmetically.

First impressions count

What are the first two things you see when you pull up to a house? The exterior and the hallway. It might come as a shock to you, then, to realise that these are often the two most neglected parts of the house. To potentially add an extra £5,000 to your property value, unblock those gutters, clean the windows, clear the driveway, paint your front door, and keep the hallway clear of shoes.

Internally, you may wish to replace your kitchen or bathroom; deep clean or replace your carpets; and give the walls a fresh coat of paint.

Increasing space

If you’re looking to extend your property or convert a garage or an attic, the Sainsbury’s guide explains what you need to look for and who you need to speak to for advice before carrying out any alterations. As mentioned earlier, adding an extra room to your property can add significant value.

Katie Lomas, Head of Direct Line Home Insurance has reportedly said, “Extending homes or converting rooms to add light and space can add real value to a property, so can be worth the investment.”

The Mirror states, “Nationwide found a 10% increase in floor space typically adds 5% to the price of a house, while adding enough space for a double bedroom to a two bedroom house can add around 11% to its value.”
Added space to your property can be a big investment and a big job but if you have the budget to do it and you’re confident it will add value to your property, it’s certainly worth considering.

Improving your home’s energy efficiency

The Guide from Sainsbury’s Bank talks about how to improve your homes energy efficiency because now you have to have an EPC (Energy Performance Certificate) when you sell your home.

An EPC rates your home from A (very efficient) to G (inefficient), and tells the potential buyer how much it will cost to run the home each year. Just the smallest energy efficiency improvements can make a big difference to your annual energy bills.

Here are some of the most common energy efficiency improvements that can be made, with their payback periods, as reported by Sainsbury’s Bank. Improvements we could all be making to help reduce those energy bills, regardless of whether we are looking to sell the property.

Table
Source: Energy Saving Trust

When you’re ready to sell your property, for a no obligation quote to help you move your personal possessions, please call Johnsons on 0800 279 2505 or email contact@jms.uk.com.

Related articles:
How to add £157,202 to the value of your house (The Mirror)
Guide to improving your home (Sainsbury’s Bank)
Where can you afford to live?