16 May 2022
How to Increase the Value of Your Home
If you are thinking of moving home, especially if you want to upgrade to a bigger house or a more expensive location, you’re probably wondering if there’s a way to sell your current house for a higher price.
Even if you just want to maximise the price of your current house in preparation for when you eventually move a few years down the line, this guide will cover how to do exactly that.
Declutter Your Home
A simple but effective tip. Though it might seem obvious, decluttering as much as possible will show off the size and space you have available. This will give a great first impression to potential buyers, making them less likely to give a lower offer. It will help estate agents to show off the place too. Don’t undercut yourself by trying to sell a home that doesn’t look its best or isn’t at its full potential.
Getting the most from your current home will make paying off the mortgage for the next home that much easier. For inspiration on how to start decluttering and getting rid of stuff, think about what you can imagine being in the new home, if you can’t imagine something being there, it’s time to let go of it.
You could even make some extra money selling your old stuff via online marketplaces, or if you don’t think it’ll sell and you have a list of what you need gone, consider seeing if a local charity shop will take your donations.
Clean and Assess Your Space
Once decluttered, run a vacuum over your newfound space and assess if there are any issues within your home that have become more obvious now that you’ve moved things out the way. Maybe there are cracks in the skirting board that need filling? Or maybe the wall needs a new coat of paint? Now that you can easily reach these places, small touch ups shouldn’t be too awkward.
Don’t underestimate the power of small updates like refreshing the walls with a new layer of paint, or perhaps even a brand new colour if trends have changed since the last time you decorated. You want your house to feel as “new” as possible to attract buyers. This can be achieved at a reasonably low cost for most small updates.
Consider slightly bigger updates like getting a new front door fitted, look at current trends to see what kind of external doors are attractive and would suit your house. A good door can be purchased from somewhere like B&Q for a few hundred pounds. It’s a worthy investment to give a good first impression and bump up your current home’s value.
Energy Efficient Upgrades
Upgrading to energy efficient appliances will not only attract buyers but will help you save money on expensive bills whilst you’re still living in the house. The logic is that buyers will see the improvements you’ve made and think about saving on their own potential bills.
Having items like dimmer switches for lights will be both an attractive feature as well as an opportunity to save energy. Adding some smart home features to your property can make it look very impressive, even if you’re planning to take some of the devices with you, it shows buyers that the house has a potential that they might not have thought about.
Look into buying appliances like video camera doorbells and smart security or motion sensor lights for outside. These small additions will make the home feel safe and secure. A simple smart thermostat can also hit home that the house is a cost effective energy saver.
Adding some of the latest tech to your home will really sell the dream to buyers. As will showing off what you’ve got, whether it be your TV or home office space, future owners of the home will start to picture how good their stuff will look in its place.
Don’t Forget the Outside
When getting photos taken by the estate agent or before having a potential buyer round, don’t forget about the state of both your back garden and your front yard or drive. Both your front door and front yard are the chance to make a good first impression, so get these both looking good.
At the very least, take some time to do a little gardening, cut the grass, trim back any hedges. You can make small improvements like buying some fresh plants to add a little colour and decoration which will influence buyers.
For the most part of trying to increase the value of a home, fairly simple visual improvements can go a long way. You could also pressure wash your driveway to take years off it.
If you’re not in a rush to sell, and just want to maximise your home’s value over the next few years until you do move, or even leave the house to someone, bigger investments like a new driveway could be worth your consideration, if money allows.
Focus On Your Bathroom and Kitchen
The most important rooms to take into consideration when buying or selling a house are the kitchen and main bathroom, as well as the living room and master bedroom. Kitchens and bathrooms are especially important as you are dealing with the reliance on functioning elements like water and so on.
Think about it from your point of view, would you really buy a house with a bathroom or kitchen that looks like it hasn’t been updated for decades? If there’s one main place to focus improving before selling, it’ll either be your bathroom or kitchen.
Selling the Dream
Though making some of these updates might seem pointless if you are moving, just remember that the increase in value will give you a boost in achieving the next step up on the property ladder. If you won’t miss your current home even a little, how can you expect someone else to be enthusiastic about buying it?
For more ideas, see if an estate agent can make some quick recommendations. And for any help with finding a new mortgage when moving home, contact one of our specialist mortgage advisors today.