Guest Blogger: How to Boost the Value of Your House on the Market
Guest Blogger #984, Entry #2520, June 14, 2013
With the property market still in the same somewhat dire state that it’s been in for the last few years, many people are struggling to sell their current homes and move elsewhere, and those who do manage to sell their home often end up doing so at a much lower amount than they had initially expected.
One way of adding extra value to your home is to get yourself involved in a home improvement or two. Sadly, many of these projects either cost more than the value they add to your home, or simply don’t add any value at all!
With that in mind, you may begin to feel apprehensive about putting the wheels in motion for a Grand Designs-type renovation, but we are here to help! Here are a few of the best projects to see a return on your investment.
Image via: Habachy Designs
1 – Do Up the Kitchen
According to recent market surveys, when selling your home you can expect to see a recoup of somewhere between 60% and 120% of the amount of money you spent upgrading your kitchen. This is perhaps because a lot of people think of the kitchen as the heart of the household – they are willing to pay for a good one.
Don’t go overboard and spend a fortune, and don’t make the kitchen significantly fancier than the rest of the house – this dissonance will only put people off your property. Simply upgrade what you already have (preferably with more energy efficient models) and you should be golden.
2 – Add a Bathroom
This may not be suitable for everyone, but if your property only has the one bathroom, you can gain a significant return on your investment by adding a second one – anywhere between 80% and 130%!
If you don’t think you have the space for an extra bathroom, take a look around your home for any underused rooms. Closets or under-stair areas can be good for a simple toilet, whereas a study usually gives enough room for a shower.
Image via: Knight Construction Design
3 – Invest in Decking
Outdoor spaces are becoming ever more popular, so a cheap way of adding extra value to your home is to simply add a deck. This instantly makes the garden more appealing, and is much cheaper than tacking on a conservatory.
You can put it together yourself to save on money, but unless you’re experienced you may find it worthwhile to hire a contractor – it’s not an easy job. Don’t splash out on expensive built-in seating; instead, buy some wicker furniture – it looks nicer and is a lot cheaper.
4 – A Lick of Paint
By far the easiest way of adding value to your home – as well as the method that will bring back the biggest percentage return – doing some basic updates is quick and easy. Give any tired-looking rooms a fresh coat of paint, fix up any small problems like scratched furnishings and leaky taps, and make sure each room gets a lot of light.
These things are just basic maintenance, but you’d be surprised how many people are put off a property by something as simple as a worn out paint job.
Tom Rokins is a freelance blogger working in the UK. This article was written on behalf of WPHomes; click here for more information about affordable housing.
For more ways to add value to your home, click here.