Whether you are thinking of selling, or have bought an investment, then making the most of your property will provide you the greatest returns.
You want to get the edge over your competition so you can sell the quickest and for the highest amount. This can be done in numerous ways provding decent % returns or sometimes quick tips that cost very little can give your property that extra “kerb appeal”.
Lick of Paint
It might sound cosmetic, but a new coat of paint can make a house feel clean, hygienic and cared for. I would also update the front door furniture if it’s looking tired, replace any rotting window timbers or loose tiles and give the front flower beds a weed. First impressions count.
If you have a tired front garden and you live in a town or city like Cardiff, it could be worth converting the space into an off-road parking area. Depending on the surface, this can be a cost-efficient way to add value, particularly if other properties in your street can’t offer the same.
Now this isnt necessarily to do the build. Properties with planning permission for extensions, conversions or complete rebuilds can be very tempting for buyers as that allows them to add their own value to the property. Allow about £2k – £3k to cover architect and council planning costs.
Convert The Garage
A lot of today’s garages are no longer fit for purpose, having been designed when cars were smaller. They have become dead space and can easily be converted into another room. That extra room could be used as an office, playroom or even an extra bedroom. These will appeal to a larger demographic.
Convert The Loft
Loft conversions can be on the pricier side, but they can add a decent value to the property, especially in an area where space is a premium. If you are adding the conversion to make money try not to eat into existing living space, ie. losing a bedroom to add a staircase. A good conversion can cost you from £20k for small or £30k – £40k for larger ones with ensuite etc.
Replacing The Kitchen
One of the first things house hunters will be looking for is the kitchen. Make sure this is the area where you spend most of your attention. Open plan living is very vogue at the moment so try to ensure it provides a sense of space. A good kitchen can add about 6% value to your property.
Adding A Conservatory
Adding a good conservatory can give the illusion of a lot more space in the property. However, make sure if flows well with the rest of the house and not just stuck on as an after thought. It also adds more light living space and can enhance a house with a nice garden. A conservatory can add around an extra 5% value.
In areas where space is at a premium some side returns are a good way to give something a little extra that other properties in the area may not have. You could add a utility room or something to add that extra wow factor
Nobody likes to queue in the morning and bigger houses with bigger families love the extra bathroom. It’s a real selling point. Short on space, then a shower room with WC can be enough to convince that buyer.
Working with property professionals for over 20 years providing advice and services to all property investors.