The property market in Merseyside is booming at the moment with houses flying off the market within days.
Asking prices for homes in Merseyside are at a record high after a more than 8% jump in value, according to Rightmove.
Experts have said the increase is due to a surge in demand brought on by the reduced stamp duty and the pandemic.
And it's not just homes on the Wirral and in leafy areas of Sefton and south Liverpool that are getting snapped up by buyers.
Professionals are reported to be snapping up homes in the Old Swan area of Liverpool due to it's desirable location within the city, and properties in Tuebrook are experiencing increased demand too.
But even if the value of your own home isn't reaping the benefits of the "boom", there are simple ways you can add value to your home regardless of location.
Property experts, My Pay Weekly, has revealed eight ways you could add £154,100 to your house value for only 15% of the price.
Sean Jobson, a home improvement expert at My Pay Weekly said: "The great news for those who have invested time in home improvement over the last year in lockdown is that they may have actually increased the value of their house, and made themselves a good profit when they come to sell their property.
"Our research shows that even those smaller DIY projects could see you thousands of pounds up."
Sean added: "It is always a good idea to opt for neutral colours in your interior design when planning to put your house on the market as many buyers can be put off the home by niche or 'out there' interiors."
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My Pay Weekly looked at the potential profit homeowners could gain if they were to make eight simple home improvements before selling.
The results revealed that if you spend the £23,500 needed for the eight renovation tips you could see a profit of £130,600.
The UK’s average house price is currently £249,309 and the figures shown are calculated using this figure.
Paint The Exterior Walls
Value Increase: 25% = £62,327
Cost: £850
According to new research from Dulux, UK homeowners who give the exterior of their property a new lick of paint can increase its perceived value by a quarter. That means a potential £62,000 increase to the value of your house for the cost of £850.
Blue Front Door
Value Increase: 1.6% = £4,000
Cost: £20
Did you know that blue is the most valuable front door? In fact, a blue front door can add a whopping £4,000 to your house value. You can pick yourself up a tub of paint for the door at £20-30 at your local DIY store.
Freshen The Interior Walls
Value Increase: 3% = £7,479
Cost: £140
A fresh coat of paint on the walls can actually add 1-3% according to HomeAdvisor. The average UK home has 5.2 rooms, and according to Dulux, you will need about five litres of paint to cover all walls in a medium-sized room.
This means the 26 litres of paint you will need will set you back around £140. Not too bad for a profit of over £7,000.
Update Your Bathroom
Value Increase: 2.8% = £6,981
Cost: £100
According to NetHousePrices, new bathroom features such as taps, showerheads and towel rails can add £7,000 (2.8%) to your house’s value and can be bought for less than £100.
Add a Bathroom
Value Increase: 9% = £22,438
Cost: £7,000
If you have the space for a new bathroom then this is a project well worth your time. A report from Nationwide states that adding a second bathroom can add between 5-9% to the value of your home and it should only cost you £7,000, meaning over £15k profit.
Replacing carpets
Value Increase: 2.4% = £6,000
Cost: £4,000
An index by financial services company Zopa, reveals the average cost to replace your carpets in the UK is £4,000 and renewing yours could add £6,000 to your home.
Add Energy-Saving Features
Value Increase: 14% = £34,903
Cost: £6,380
According to research by the Department of Energy and Climate Change, making energy-saving improvements to your property could increase its value by 14% on average.
Research showed that a new boiler installation will set you back £2000, a smart thermostat £280, new light fittings £100, secondary glazing £2500, and boarding and insulating your loft will cost £1500.
New Kitchen
Value Increase: 4% = £9,972
Cost: £5,000
The Royal Institute of Chartered Surveyors claims that a new kitchen may boost a house valuation by around 4%.
With kitchen units ranging from £1,000 all the way up to £25,000, it is hard to say how much your kitchen renovation will cost.
But according to research a new kitchen in the UK will cost you £5,000 on average. Stick to that average kitchen price and you will see a 99.4% return on investment.
