The property market is on the move once again (after a long period in the wilderness) and anyone looking to profit from premises they own – whether they’re landlords or London property developers – needs to ensure that they add value to their investments. Fortunately, there are several things that an owner can do to increase the desirability of their property:
Fix any structural issues
Fixing structural problems should be the immediate priority for anyone looking to improve the value of a house: these repairs are the mostly costly to fix, so will inevitably drag a property’s price down the most when it is valued. It’s worth remembering that whilst cosmetic solutions might hide the problems from normal buyers, no valuation specialist is going to be fooled by a quick ‘tosh’ with some exterior paint.
Relatively common structural defects can be everything from damp, deep cracks within the walls, through to rotten joists, sagging, cracked or bowed roof timbers and collapsed floors. If any structural problems are present, they should be fixed as a matter of priority.
Electrics & Plumbing
Plumbing and electrics are probably the two key areas that need to be explored once any structural issues have been dealt with. If the house hasn’t been rewired for some years, get your trusty local ‘sparks’ in to renew the wiring, especially if the property is in a high-cost area.
Plumbing can also be an issue, with old pipe-work often becoming furred up. This can lead to a poor flow of hot and cold water throughout the house. In worse case scenarios burst pipes can cause further damage that will cost a fortune to put right. Like the structural repairs, plumbing and electrics can be expensive, but are a sure-fire way to add value further down the line.
Fix the superficial
Whilst the smaller defects won’t affect the value of your house in the technical sense, there’s no denying that a home that’s full of peeling paint, sticking doors, mouldy sealants and dripping taps isn’t going to appeal to buyers, or the estate agents trying to sell them. So making the effort to fix the superficial issues could be the difference of a few thousand in the eventual sale of the house. The aim, after all, is to create a property that people can imagine themselves living in. Who’s going to want to live in a home that looks like something out of an episode of DYI SOS before they send the builders in?
Consider upgrading the windows
Double glazing is nowhere near the lavish expense it was at one time, but it remains a feature that most discerning homeowners are likely to want. After all, it both cuts down on energy usage, and helps to increase the security of the house. As a result, it will make the property far more appealing to those concerned with comfort and safety: a young family, for instance. On a side note, it’s also worth noting that double glazing generally looks better, and that pleasing aesthetics never hurt anyone!
Take a look at the kitchen
An attractive, hygienic looking kitchen remains one of the key selling points for buyers and valuation specialists. As a result, investing in new units and a new floor can certainly help to increase the value of the property. However, even if it’s not possible to completely redo the whole room, it’s a good idea to try and give the kitchen a solid clean, and to upgrade a few essentials. If the units themselves are of good quality, then simply replacing the doors can add a visual spark. Good quality worktops are also important, as they are often the first thing a buyer will look at when they walk into the room.
Look at the garden
Never under-estimate the impact that a tidy, well-designed garden can have in terms of providing a good first impression. Ask any estate agent like the team at Winkworth Estate Agents, and they’ll tell you that ‘outdoor living’ spaces are just as important as the inside of the house. If the gardens are attractive and well put together, then buyers are more likely to imagine themselves spending time in them during the warm summer months. Even if there’s no plan to carry out a full garden renovation, it’s important to ensure that the basics are carried out: dead plants and other litter should be cleared away, the lawn fed and repaired and overgrown trees and shrubs cut back.
Author Bio: Matt Bailey has been working within real estate for 15 years, and is enthusiastic about helping people obtain the home they really deserve. He researched this piece with the help of information on www.winkworth.co.uk.