Looking to sell your property or begin renting it out as a landlord? If your answer to either of these is yes, then you’ll want to make your property look as attractive as possible to prospective buyers and tenants. The more attractive your property, the more money you’ll be able to get back from the property.
While we always recommend keeping your property tidy and clean when prospective buyers and tenants initially visit the property, there are several ways for you to take the next step further in getting the most out of your property valuation.
We have put together our top tips in getting a fantastic property valuation for your home with ways to increase your property value.
1. Fix Structural Issues
If you’re reading this, then you’ll most likely be wondering how to increase property value. The best place to begin is with any outstanding structural issues.
Structural issues can unfortunately knock the value down significantly, so this will be one factor you should really focus on before having your property valued. Any structural issues should be fixed before you focus on cosmetic improvements and can be an expensive project to undertake, but is absolutely essential.
Some common structural defects can include rising damp, a collapsed floor, missing/broken roof tiles, an infestation of insects or animals (such as a wasps nest), rotten roof timbers or joists, structural wall cracks or a leaking roof. If you have found any of these structural problems in your property, we do advise contacting a builder, surveyor or structural engineer.
2. Home Decorating
Arguably the most obvious task when it comes to making your home look more attractive, decorating can add great value to your home and can attract prospective buyers and tenants. After all, there’s a lot of meaning behind the old saying “if you want to sell your home, bake cookies an hour before” – although simple changes to your decor are, of course, far more effective in preparing your home for a property viewing or valuation.
Just by de-cluttering, adding a fresh lick of paint and making cosmetic improvements to your home, the value of your home can increase by up to 10%. Some of the simple ways to decorate to add value include adding new floors, cleaning windows, upgrading light fixtures, stripping woodwork and styling with new furniture, accessories and flowers.
3. New Heating System
A new heating system can cost you at least £2,000, although this is one thing that property estate agents will look out for when valuing your home. While this is a costly move to make, adding a new central heating system can certainly add more value than it costs.
We do recommend adding a new central heating system in conjunction with improving the energy efficiency of your property, as this will also come into consideration. This can include adding insulation to your loft, sealing any drafts, fitting double glazing windows and even updating the radiators and adding heated towel rails.
4. Split Your Home Into Flats
Particularly in London or areas with students and single occupants, splitting your property into separate flats can add up to 30% value as flats are in higher demand and are therefore easier to rent out.
If you’re looking to rent out your property or sell to investors, this can immediately add attraction to your property by maximising rental income in the short and long term. This could be a good idea if you have a three-bedroom property in Central London and are looking to maximise your profit.
5. Extend the Kitchen
The kitchen is the heart of the home, and is therefore a real money maker in terms of property valuation. So, If your kitchen is feeling a little small, you may like to look into extending the kitchen or giving it a complete renovation, which can add up to 15% value to the property.
Extending the kitchen can gain valuable space and improve the layout, although we do recommend thinking carefully as you may lose windows and therefore a lot of light.
6. Kitchen Makeover
Realistically, the more modern and attractive your kitchen, the higher the value of your property as it appeals to buyers and tenants.
Fitting a brand new kitchen is one less thing for potential buyers to think about, and for tenants, this is something that is usually hard to come by and is often at the top of the list of priorities when finding a new rental home, particularly as tenants are usually unable to make changes to the home.
If you are considering giving your kitchen a makeover, we do recommend considering the fundamentals such as the shape, structural changes or whether the kitchen would be better in another room.
Small changes such as repainting or replacing cupboard doors or the worktops can also have a huge impact, as well as fitting new floor tiles or better lighting.
7. Update the Bathroom
As a room that will be used throughout the day, the bathroom needs to be bright, fresh and clean, which is why it may be a good idea to give your bathroom(s) a little refresh.
Shower VS bathtub? As most buyers look for a shower, we do recommend having at least one shower in your property, which is also an excellent way to save space, too. However, bathtubs are more of a priority for families, so if your property is suitable for small or large families, then it may be a good idea to fit a shower within a bath to have the best of both worlds.
A basic white bathroom is more attractive than a pink, peach or yellow bathroom suite, so updating the bathtub, shower tray, sink and toilet to a white colour can really go a long way. As well as this, new flooring can add great value to your bathroom, whether that be through new tiles or vinyl flooring. To save money, you can purchase tile paint to paint tiles rather than buying new.
Other things to take into consideration is a heated towel rail, extractor fan, mirror, window and underfloor heating.
8. Adding a Bedroom
Arguably one of the most crucial ways to increase the value of your property is by adding a bedroom, if possible. As more of us are now working from home, two-bedroom properties are now even more in-demand than one-bedroom homes with more buyers and tenants looking for an extra room to call their home office.
An extra bedroom can increase the property value by up to 15%. The number of bedrooms in a property has a huge impact on its value so adding bedrooms can really add to the sale or rental value.
9. Add More Bathrooms
The more rooms you have, the more bathrooms you are likely to need in your property. While it’s perfectly acceptable to have one bathroom if you have three bedrooms, you should consider how many people are living at the property and think whether it is best to add another bathroom to the property if possible.
A bathroom can be an expensive investment, although it can add up to 5% value to your home. If you haven’t already got one, we do recommend thinking about adding an en suite bathroom to the master bedroom as these are often high in demand. Or, alternatively, if your property does lack space, you can have a small W/C instead without the shower.
10. Consider a Garage or Loft Conversion
If you’re lucky enough to have a garage or loft, it could make sense to convert this into living space, whether it be another bedroom, living room, chill-out space or an extension of another room.
You will need to check your building regulations, however, and are likely to need planning permission for loft conversions, so you should bear this in mind. You will need to apply for planning permission if you want to extend your roof space by more than 50m3 (or 40m3 for terraced properties).
While a loft conversion can create a room flooded with natural light and is a focal selling point in many homes, they can add around £23,000 value to a home, on average.
11. Adding a Conservatory
A conservatory can add as much as a 10% value to your home and is often seen as an essential for many buyers/tenants searching for a warm space to relax in summer.
Adding a conservatory is an amazing investment and is a great way of adding a room onto the house, which is likely to be used as a dining room, living space, chill-out area or even an extension of a kitchen.
While a conservatory usually won’t require planning permission, it will need to comply with Building Regulations.
12. Storage Space
As London homes and city homes are generally a little smaller in size, storage space is a real selling point and should be high on your priority list.
We recommend making use of every bit of spare space you can find, whether it be under stair space, unused wall space, concealed spaces, spaces above sinks or beneath the bathtub or unused wall space for wall-mounted storage cupboards.
This also makes it easier for tenants as a must-have could be built-in wardrobes, particularly if they are only looking at staying for the short-term.
13. Curb Appeal
First impressions count, so the curb appeal of your property is a crucial element in attracting prospective buyers and tenants. Most buyers and tenants will decide whether or not they like a property before they even view inside the house, so having an attractive exterior can be a great place to start.
Ways to improve your curb appeal include repointing brickwork, repainting walls, doors and windows, replacing windows, adding a porch and replacing house signs/numbers.
14. Create a Driveway
We often get asked ‘how much value does a parking space add to a property?’ – the answer is a lot! If allocated parking isn’t available, the ability to have a driveway can be another priority feature for buyers or tenants. While this may mean sacrificing a front garden, having a low-maintenance driveway can be far more valuable than a front garden that is never used.
For properties with multiple adults or in areas where residents are more likely to drive, this is even more crucial. With that being said, you will need to consider having a drop curb and complying with local regulations.
15. Garden Renovation
As garden space is generally very limited in cities, such as London, you’ll want to make the existing garden feel as spacious and practical as possible to add up to 10% value to your property.
We recommend making the most of your existing garden and try to make it as low-maintenance as possible. Some ideas to increase the value in your garden can include mowing the lawn, raking up leaves, adding decking/a patio, increasing levels of privacy, adding a pergola, adding borders and beds, cutting back overgrown trees and adding a fresh lick of paint to the fences. It does go without saying, but we also recommend ensuring that all fences are in good condition and are robust.
16. Open Plan Living
Open plan living is highly sought after, especially in areas such as London or in properties occupied by adults with young children. This feature can be created very easily by knocking down walls in the property – as an example, this could be a wall separating the kitchen and living room.
Creating an open plan living in your home can increase the value by up to 5%, although we do advise you to talk to professionals first as a wall can be a load-bearing wall.
How JOHNS&CO Can Help
We hope these tips will come in useful if you are looking to sell or rent out your home! If you would like further tips on how to increase the value of your home, we would be more than happy to offer our expert opinion or provide you with a free 60-second valuation.
With years of experience and in-depth local market knowledge, our lettings and sales team are experts in matching people with their perfect property. JOHNS&CO landlords and tenants are well looked after and receive an unprecedented level of service.
We know how important it is to keep void periods minimum, and we do everything we can to minimise them. This commitment has seen us let property in new build developments up to six months ahead of completion. To discuss your requirements in more detail, please contact us.
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