Each week in our Friday Five, we provide five quick tips about a different topic of interest. Interested in seeing a particular subject discussed? Send an email with your FAQ to [email protected].
This article does not constitute advice. Professional advice should be taken prior to acting on any part of it. Your home may be repossessed if you do not keep up repayments on your mortgage or any other debt secured on it.
Are you thinking about selling your home but worried you won’t get top dollar for your property? Making improvements – even small, inexpensive fixes – can help you put your property on the market at a price that will be sure to have you smiling all the way to the bank.
Here’s five easy ways to add value to your property:
1. Add kerb appeal
Make your home look inviting the second a potential buyer sets their eyes on it. Repainting the exterior of your home or the window frames if you have a brick finish might cost you a bit but could add another £5,000 to your asking price. Similarly, sprucing up your door will cost less than £100 but could add up to £1,000. Doing a bit of landscaping will also pay off; by putting in a bit of gardening time, you could add another £5,000.
2. What’s in a name?
It might sound silly, but research shows that simply naming your home, which usually costs nothing, could help add thousands to your home’s value. A home with a name will help you sell the lifestyle you want associated with the property – whether it’s meant to lend an air of royalty or create a cosy “homely” vibe. It’s easy to do – you just need to contact your council and Royal Mail and you’re done!
3. Remember that kitchens and bathrooms sell a home
The most important parts of a potential new home are the kitchen and bathrooms. If a lot of work is needed, most buyers won’t bother. Full renovations are best, but are indeed, costly. However, you should at least focus on putting these spaces’ best faces forward. Refinish cabinets and add new hardware, add a fresh coat of paint, and do a thorough clean. Ensure any repairs that are needed are sorted and always bring in a professional if the scope of work is beyond your skills.
4. Little things add up
Lovely, fresh, clean carpets and floors will appeal to any homebuyer. Replacing all your flooring isn’t necessary, but getting your carpets professionally cleaned and making sure all other surfaces are free of stains and odours is important. Take the opportunity that moving presents to declutter and clear out as much junk as possible to make your rooms seem tidy and large. Adding mirrors and putting away things in their proper place will also help.
5. Show your property’s potential
A loft conversion or adding living space to a home isn’t a project you want to take on before moving out, but they could add the most value to a property later on. You don’t actually have to do all the work to show prospective buyers your home’s potential, though. You can usually get outline planning permission from your local planning authority that will help others see what can be done with the space you have.
Putting in a little bit of money and some sweat before listing your home could help you add tens of thousands to your home’s value, ensuring you’ll have the profit needed to move on to your next home.
Make sure you work with a mortgage advisor to get the mortgage deal that’s right for you. Contact the team at Dental & Medical Financial Services if you need help with your mortgage.