Are you planning on selling your home? Whether you’re ready to go or you’re in the early stages of considering a move, it’s worth thinking about how to get the best price for your property.
You could find that making some changes now, you can ask for more when it comes to putting it up for sale. It’s worth considering this now as property prices are set to fall this year.
Here’s a look at how you can add value to your property if you’re looking for inspiration.
Plan Ahead
Think carefully before you make any updates. A lot of the upgrades you make will be based on what you want to change. Home renovation can be a costly process, so it’s important that you remember that you’re upgrading to get a sale. But it can be worth the effort if it means you have a beautiful space that’s attractive to buyers.
According to research by Hammonds Fitted Furniture, there are different areas that homeowners are focusing on right now in order to make their homes more attractive. Here are some areas to think about.
● Add Outdoor Space
Outdoor areas are a key consideration. A front garden or driveway is the first thing that a potential buyer will see, so it must have kerb appeal, while a garden area at the back of your home is likely to be appealing. In fact, Hammonds’ survey found that Brits are willing to offer an average of £5,044 more for a home with outdoor space and one in ten (10%) stated that they would offer £15,000 over the asking price for a home that has a garden.
Parking is also an important asset. If you have a driveway that allows for off-street parking, you could see buyers willing to pay as much as £4,146 more.
● Prioritise The Environment
With more of us more aware than ever about the environmental crisis, potential buyers are keen to get a home that has a lower carbon footprint. So, do you have solar panels or triple glazed windows? If so, you could see more value added to your home.
These are highly sought after, adding an average of £3,555 and £3,473 respectively onto your home’s value. And one in twelve (8%) of those surveyed stated that they would pay £15,000 above the asking price for a home with triple glazed windows or solar panels.
As more of us are making the switch to electric vehicles ahead of the petrol and diesel ban, there are more prospective buyers looking for charging points. Three in five (61%) of those asked by Hammonds say they would offer extra for a home with an electric car charging.
Encouragingly, searches for ‘eco homes’ are up 26% YOY, while searches for ‘energy efficient home’ are up 39% YOY. This shows that people are becoming more eco-conscious in the decisions they make.
● Make Extra Space
More of us are working from home, whether it be full time or hybrid, meaning that having that bit of extra space at home is more important than ever. It makes sense, then, that a conservatory was found to add an average of £3,951 onto a home’s asking price and an average of £3,408 over the asking price is regularly offered for homes that already have built-in storage solutions.
What to Avoid
While having the above features may potentially help you boost your property value, there are a few renovations that could risk you spending more than you get out of the work you put in. Wooden beams, fireplaces and high ceilings were all found to fetch the least amount of extra cash.
So, it’s worth being savvy and taking the time to research where to invest before you make updates to boost the value of your home.
