What Property Adjustments Should You Concentrate On?
Invest in these property renovation ideas for a quicker and more profitable sale.
A quarter of homes up for sale in 2019 are left on the market for more than 6 months. With political uncertainty stamping an effect on property prices, sellers need to do everything they can to win buyers around. If you need to achieve a certain price for your home, then it’s important that the property is up to scratch before you invite prospective buyers to take an interest. It’s usually best to carry out these works before officially going on the market, because any property that has obviously been marketed for a while starts to send out negative vibes to buyers that there may be something amiss.
If you know that your property has problems that will show up in a survey, then it’s important not to waste your own time, or the buyers, and sort out these issues in advance of being under offer. For example, if a surveyor will find missing roof tiles, subsidence, damp or a leaking roof, then these are the types of problem that will stop a sale dead in its tracks. Although it’s annoying, and potentially expensive, these are issues that won’t go away and will be spotted. There’s little point in spending money on further works until the structural integrity of your home is assured.
Adding An Extra Bedroom
A fantastic way to add value to your home is to create room for an extra bedroom. This might be through adding in an extension, converting a loft or cellar, or simply removing a wall to improve the layout of your home and find a way to add more living accommodation. If you’re converting a loft to make space for an extra bedroom, you can add as much as £23k to the value of your home, whilst only spending around £500-600/m².
Room for a Driveway
Off-street parking is a huge selling point for buyers according to local Shenfield estate agents. If your property comes with a front garden that you never use, then consider giving this space up and changing it into a driveway. Most buyers are happier to have a smart, low-maintenance driveway that has room for 1-2 cars, instead of the chore of keeping a front garden looking neat year-round.
If your property is leasehold, then check how many years are left on the lease before you come to sell. This is one of the first questions that a potential buyer will want to know. Ideally, you’ll be able to offer a lease with more than 100 years left, but anything less than 60 years and the property will begin to lose significant value. Although it may be expensive to renew your lease, this is a step worth taking to encourage your sale to progress.
A Lick of Paint
By far the cheapest upgrade on the list, but a simple repaint of your interior in a neutral off-white colour will create a blank canvas so that potential buyers are able to visualise their own possessions within your home. A lick of paint and a declutter of your home gives it a fresh, minimalistic feel that seems to add more space and is easy on the eye!
When it comes to home upgrades, don’t rush into anything. Go around your property and make a note of everything that needs doing. Then have a frank discussion with your estate agents to check if your renovation ideas are worth carrying out.