Property prices are always a big talking point. They can be a headache for some and a welcome surprise for others. Either way they can be hard to predict with some analysts saying they’ll be up this time next year and others saying don’t get carried away. If there is one thing certain the value of your home can be improved with some simple and maybe not so simple tactics. So what adds value to your home?
1. Loft Conversions – Up to 20%
Whether you decide to turn it into a bedroom (recommended) or a family room a loft conversion can add up to 20% to the value of the property making it a worthy investment. But you must always make sure the cost of the build is taken into account or it’s not worth putting in the money or the effort. In some cases you could even de-value the property.
2. Conservatory – Up to 7%
Adds another room and if done well can add up to 7% to the value the house. But again always make sure that the cost of getting the build doesn’t out weigh the value it adds.
3. Extension – 23%
Looking for more than a conservatory? Although obviously more costly than a conservatory it also adds a lot more to the value of a property.
4. Increase Floor space – 5-7%
Making a property bigger is what everyone would like. By increasing the floor space by 10% you can add 5-7% to the overall value of your home.
5. Central Heating – 10%
With over 90% of homes now fitted with central heating it’s a modern necessity that everyone looks for in a property. Central heating could increase the property’s value by as much as 10%. Central heating can drastically increase the comfort levels in a property and as a result it’s no surprise the properties desirability factor also goes up.
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6. Adding an extra bedroom – 11%
Another bedroom is always going to add desirability to a property and so worthwhile if the cost is not too much
7. Adding an extra bathroom – 6%
Adding another bathroom has a good effect on the house price adding value up to 6%
8. Increasing more parking – £50000 depending where you live
For areas where parking is at a premium turning that front lawn or extra bit of land into more room for cars. Depending on the area this could add up to £50000 to the price of the home. Just make sure it looks good and fits with the character of the property.
9. Interior Update – up to £5000
Don’t have a huge budget? An update of the interior could cost as little as £1000 but add up to £5000 in house value. Obviously just a lick of paint is not going to maximise but an update of the interior walls, floors tiles, kitchen and bathroom will certainly help. Just try and keep it neutral so it’s easier for the viewer to visualise the property and of could budget wisely.
Probably the most important on the list. Unfortunately some properties no matter how nice inside will be impeded by the location. Typically closer to cities increases the value but make sure the area is safe and a nice place to live. A property near a good primary school (and we mean a top performing school) can help increase the value by 3.3%. One of the most important factors when buying a property maybe even the most important factor as the experts says location location location!!
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