Do home improvements actually add value to your property?

News at Waterfords | 22/06/2018


Many home improvements can cost more than the value they add according to new research by buying agent Henry Pyror and GoCompare Home insurance.

Improvements such as new flooring and replacing kitchens and bathrooms (the most popular home improvements) are unlikely to yield a profit for many homeowners. At £7,000 the average cost of a new kitchen, is twice as expensive as the estimated value it adds to a property.

In comparison, energy improvements, such as a new boiler or central heating system, can increase the price of a property by close to 4%, the equivalent to just over £9,000. A new boiler costs around £2,000, providing the householder with a net profit of close to £7,000.

While a fresh coat of paint may add little to the value of a property, such improvements can undoubtedly encourage prospective buyers through the door. There are a few other things you can do to impress buyers:

If you are thinking of putting your house on the market, there are much cheaper ways to sell it quickly. Take a look at some of our team’s suggestions below.


1. Depersonalise

Those gorgeous photographs of your daughter, husband, wife, nephew, best friend, cat and so forth that line the hallway? Take them all down. Buyers want to imagine the lovely life they could make for themselves in your home, don’t allow your life to clutter their vision.



2. Declutter

If you've accumulated a lot of bits and pieces over the years (and you definitely have), now's the time to throw them out, give them to charity or find proper, neat places for them in a cupboard. You might even consider having a garage sale to purge your house of all that unnecessary 'stuff'. 

Another idea is renting storage space to temporarily keep any extra furniture that could be making their house feel crowded. Be drastic - remove half the furniture in your living room and see how spacious, sleek and light it looks and feels without it. 


 

 

3. Spring Clean

Clean as though your life depended on it. We're not talking about a quick once-over. Dust the skirting boards, clean the windows (inside and out), dust light fixtures, vacuum like there's no tomorrow, get rid of cobwebs, polish taps and mirrors, clean out the refrigerator and deodorise it, bleach tile grout, scrub the oven clean - it may sound excessive, but prospective buyers are notoriously nosy!


 

 

4. Control your pets

No buyer wants to be greeted at the door by your beloved Fido, no matter how cute and charming he is. Or any other breed of dog, cat, rabbit, guinea pig etc. If possible, remove pets altogether when you're showing your property. Ask a friend or family member to take them off your hands for a while when there is a viewing, or take them for a walk yourself.

This brings us to our next point…

 

5. Get out

No offence but prospective buyers don't really want you hovering over them while they're trying to nose around and a get a feel for the place. It's a bit off-putting. If they feel awkward, they're much less likely to linger in your home and get the full impact of how great it is and how they'd very much like to buy it. Leave it to your experience estate agent who knows exactly how to boast about your home’s best features.


 

6. Repair, restore, revamp

The sale of your home could be hampered by simple little things that you've stopped paying attention to. Try to look at your home from the perspective of your buyer, and think about the details that would impress or dismay you if you were in their position. Take care of those details immediately.


 

7. Let there be light

Lots of natural light usually tops the list of things people are looking for in a home. This is great news if you own a home with ceiling-to-floor glass facing the afternoon sun, but that's not always the case.

Fortunately, there are other ways to maximise the light in your house - natural or otherwise - and give the impression of having plenty of bright, airy space…

Replace dim light bulbs with higher wattage, in areas of your house that are particularly dark install some extra light fixtures, repaint darker rooms with light-coloured and light-reflecting paint, and finally, prune any trees or vines that are casting shadows inside the house.


 

If you would like more advice on how to prepare to market your home, get in touch with your friendly local Waterfords team. Click here