5 tips to increase the value of your property
Deciding whether to renovate or not is an important question that many homeowners ask themselves, especially prior to a sale. Some may view many of the possible renovation projects as a lot of upfront cash and a lot of unnecessary headaches, but when done right they can add significant value to the property - perfect when it comes to selling!
If you’re looking to sell your home, then you may be interested in learning a little more about what you could do to the property to maximise its value.
Below, we’ve listed 5 things you could consider:
1. Side-return extension to extend the kitchen
Potential value increase: up to 15%
A side-return extension is a narrow alley that runs adjacent to the kitchen and are typically projects that are undertaken on terraced or semi-detached houses. They can prove to be a very cost-effective way of creating more space and adding value, and all without eating into too much garden space. If you have a narrow kitchen, it could be transformed into a large, open living/dining area – something that will really stand out among the crowd of other properties that potential buyers are viewing.
2. Add a bedroom with an attic conversion
Potential value increase: up to 15%
An attic conversion is regularly cited as one of the best ways to add value to your home. Whether an attic conversion can be implemented will largely depend on the pitch and shape of your existing roof, but if it is possible, then it’s a fantastic way to increase the square footage and resale value of your home. Capable of being used as a bedroom, study or playroom among others, an attic conversion is something that is sure to be highly desirable to many homebuyers.
3. Increase the living space with a conservatory
Potential value increase: up to 10%
Building a conservatory to merge the indoors with the outdoors can provide those potential buyers with an extra living space that will be most appreciated during the summer months. Think about the style of the property, is it modern or traditional? Choosing a style of conservatory that blends well with the current property will yield the best results, otherwise it can look like something that has just been jolted onto the back.
4. Re-design the bathroom
Potential value increase: up to 5%
A more modest home improvement with a smaller financial outlay would be a bathroom upgrade. As one of the most valuable rooms in the house, investing in a bathroom facelift before listing the property for sale is very likely to add a little extra value onto your home. It’s important to ensure that it will be a sound investment, as value increases are likely to remain around 5%, so looking through the figures and setting a budget that ensures a return on the investment would be the wisest thing to do.
5. Open-plan living area
Potential value increase: up to 5%
For the modern family, open plan living is often incredibly popular. If you have the right type of home to accommodate this, it can breathe new life into your property and make it contemporary, spacious and valued a little higher. A larger space isn’t only currently in style, it’ll almost always improve the saleability of a home. However, you must decide if it’s suitable for your property and if so, what sort of open plan layout would work. Open plan kitchen/diners tend to give properties the biggest sales boost.
If you’re looking to sell a property in Cardiff, why not contact the expert team we have here at CPS Homes estate agents? You can pop into one of our three Cardiff based branches in Roath, Cathays and Cardiff Bay, e-mail us at enquiries@cpshomes.co.uk, or give us a call on 02920 668585.
