Expert shares 7 budget-friendly ideas to add value to your house
How to add value to YOUR house without renovating: Sales expert shares 7 budget-friendly hacks that could add up to 10 per cent
- There are apparently several cheap tricks to help you add value to your home
- READ MORE: Rise in estate agents selling homes BELOW the asking price
As the cost of living crisis intensifies for households around the country, the UK is predicted to be in recession for most of 2023 due to soaring inflation and rising interest rates.
Despite a looming recession, reports suggest a surprise rise in demand for property in January, with house prices rising 0.9 per cent compared to December 2022, when prices fell for a fourth consecutive month.
However, property experts Savills suggest that 2023 could be a rough ride for the property market, with predictions of a 10 per cent drop in house values across the country.
This is of course bad news for those who are thinking about selling their home, as even without the recession, most homes will need some general updating and cleaning prior to selling.
Reports suggest a rise in demand for property, with house prices rising 0.9 per cent. However, there are several budget-friendly tricks you can adopt that will add value to your home (stock photo)
Matthew Shaw, Head of Sales at Ultra LEDs explained: ‘Before you start thinking about putting your home up for sale, it’s worth having a look around and making some alterations to give you a better chance of selling for a great price.’
These changes don’t need to expensive either but there are plenty of them that can, according to the sales expert, make a surprising difference to the value of your home.
Here are seven simple but effective (and inexpensive) ways to increase the value of your home from Tom Cain, Technical Engineer at Ultra LEDs:
Adding a lick of paint can be done at a relatively low cost and is a simple way to boost the value of your home by 5 per cent to up 10 per cent (stock image)
Adding a lick of paint can be done at a relatively low cost and is a simple way to boost the value of your home by 5 per cent to up 10 per cent.
The experts advise opting for neutral colours as they appeal to future buyers, who want to see the potential in a home, i.e. a blank canvas.
It’s important to remember to remove anything too personal as this allows the buyers to adapt the property to fit their own individual needs.
Tom suggested considering ‘adding some plants and revamping the sofa with some new cushions or throws.’
Lighting is an often overlooked aspect of any space. You could even place LED strip lights inside cupboards to add an extra touch of luxury (stock image)
Lighting is an often overlooked aspect of any space and when installed in the right way can really accent a room and can bring a living space to life, while also adding depth.
Tom suggested: ‘Add lamps to dark corners to create cosy nooks and add bright lighting to show off your homes’ features.
‘In terms of increasing interest in the property, it’s better for viewings to take place during the day, but if a potential buyer is coming later on, you’ll need to ensure all bulbs are working and that your home also looks good at night.
‘You could even place LED strip lights inside cupboards to add an extra touch of luxury.’
SPRUCE UP YOUR GARDEN
A couple of cheap plant pots and a clear pathway, for example, can make the front of your house more attractive, helping with those all important first impressions
Having a front and back garden can be a huge selling point, and while it’s important for buyers to use their imagination, it’s worth spending some time sprucing it up.
A couple of cheap plant pots and a clear pathway, for example, can make the front of your house more attractive, helping with those all important first impressions.
Out the back, a well designed garden could add £11,741 to the value of your home, according to research from Rated People.
Tom said: ‘It should feel like an extension of the home rather than just a large piece of grass or concrete.
‘It’s essential, and doesn’t cost much at all, to clear out any clutter or rubbish, trim borders, mow the grass (if you have any) and cut back any overgrown trees or bushes (particularly if they block any sunlight).’
FIX SUPERFICIAL DEFECTS
Common issues that you can rectify quickly to add value to the cost of your home include peeling paint, dirty walls and doors, especially around handles, door frames and around light switches
‘While it may not stop a sale from going ahead, small defects and problems can create a perception that a home is poorly looked after and could be a deciding factor if a buyer is looking at multiple properties, whilst bigger issues like damp can put buyers off all together,’ said Tom.
Common issues that you can rectify quickly to add value to the cost of your home include peeling paint, dirty walls and doors, especially around handles, door frames and around light switches, dripping taps, mouldy sealant around windows or in the bathroom and broken flooring.
All of these are easy fixes and could add value to your house, as buyers would be tempted to negotiate a reduction in price if they thought they would have to spend more money doing the house.
Never underestimate the value of a good clear out as mess and clutter could see offers on a house actually decrease by an average of £9,290
Never underestimate the value of a good clear out as mess and clutter could see offers on a house actually decrease by an average of £9,290.
Take a look around and pay attention to high traffic areas such as living rooms, kitchens and bathrooms.
Make sure these rooms are clean, tidy and clear of any clutter or personal belongings. You don’t want anything out on kitchen surfaces or piled up as this can put buyers off.
Tom said: ‘You should also consider the layout and amount of furniture in each room. It’s surprising how this can impact the size and feel of a room.
‘To add value, you want your home to look spacious and comfortable as buyers want to envisage themselves living there.’
UPDATE THE KITCHEN
A brand new kitchen could add up to 10 per cent, or an average of £13,877, to the value of your home
You don’t need a brand new kitchen to increase the value of your home, but a brand new kitchen could add up to 10 per cent, or an average of £13,877, to the value of your home.
However, if you have a small budget, Tom advises replacing cupboard door handles to more modern ones and giving the cupboard doors themselves a lick of paint.
He said: ‘Good lighting will also make a difference in this room too so try adding LED strip lights under kitchen units to add a premium and modern look that prospective buyers may be looking for.’
CLEAN UP THE BATHROOM
Re-grouting and eliminating all limescale can work wonders on making your bathroom look desirable to prospective buyers
‘Typically, a brand new bathroom could add up to 5 per cent, or £11,906, to the value of your home,’ said Tom.
But if you don’t have the budget, you don’t need to spend a fortune on a new suite as a thorough clean and a refresh is all that’s needed to make it appealing to buyers.
Re-grouting and eliminating all limescale can work wonders, as well as adding a touch of paint to the walls in a neutral shade.
He said: ‘Small changes like fresh fluffy towels, good lighting and a nice smelling candles along with a plant can make a bathroom look and feel more luxurious without having to spend a lot of money.’
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