Every property is unique, and real estate transactions occur infrequently unlike corporate stocks that are traded daily. That’s why property valuation is important to determine the value of your property before you sell it. This article provides information on how to increase the value of your home before you market the property.
Target Market
The first thing is to research your target market. If there is no way of adding value to the final price tag, there is no point in wasting a lot of time researching the property. You should do a little research, or hire a floor plan designer to do the work for you, and find out what type of buyer is interested in your property whether a young couple or a retired family. When you have this information, you will have a better idea of what type of alterations are needed to attract the right buyers for the property.
Exteriors
First impressions are important when marketing a house. How presentable is the exterior of your property? The exterior of your property should be easy on the eyes of the prospective buyers. The grass and hedges should be trimmed, windows cleaned, gutters cleared, and walkways/driveways clear of any cutter. This is known as the “kerb appeal” in real estate language. How well does your home appear from the road? Country Living states that 2021 is the year of bold-coloured statement doors – with purple colour doors being the most popular. This is good information for anyone planning to freshen up the front door of their home. The best thing is to research your local area and see how other homeowners have prepared their homes.
The Hallway Is Important
Most homeowners completely forget about the hallway when planning to sell their homes. The hallway is always a cramped space for coats, shoes, and other junk. But the hallway is the first space the buyer will see on entering your home. Hence, it is much more important than most homeowners think. Paint the hallway in a pale colour to maximise the light. Putting up a mirror will give the illusion of more space. Place the shoes and coats in discreet storage places to limit the amount of clutter visible to the prospective buyers.
Loft Conversions
Converting the loft is one of the easiest ways to add more space to your home. You should remember that building regulations need to be followed when doing such a conversion. Work with an architect or surveyor when planning to convert the loft. The latest research shows that a loft conversion may add up to 12.5% onto the selling price of your property. Try adding an en-suite bathroom and you will have a secluded master bedroom which will add more value to your property.
Wasted Assets
Do you have a spare room full of junk or a garage that has been never used? You can turn these wasted assets into selling points. The cluttered spare room can be turned into a study or snug. Also, the unused garage can be turned into a workshop or home office. If the unwanted garage or spare room isn’t load-bearing, they can be knocked down to create more space in your home. These tasks are not expensive and will add value to your property.
Bathrooms & Kitchens
The kitchen and bathroom are the most important areas that the buyers look closely at. If you don’t have the money to upgrade an old kitchen, at least try to paint the cabinet doors in the kitchen. The same is true for the bathroom also. If you don’t plan to upgrade the bathroom, try to change the old fixtures in it.
The home renovation programs by Phil Spencer and Kirstie Allsopp can help you with your renovation projects. Your local real estate agent can value the property and offer some top tips to improve the value of your home before marketing.