Most people want their property to sell for the highest possible value.
(Some are more concerned with selling their house quickly).
After all, higher offers mean higher profits.
There are several ways to increase your home’s value.
Below are our top recommendations.
1. Build an extension
Building an extension is the most common way to increase a property’s value.
Extensions can come in many different forms. Some of the most common types include:
- Conservatories
- Loft conversions
- Kitchen extensions
- Porch extensions
- Wrap-around extensions.
Each extension type has a very different cost and return on investment (RIO) (when you sell).
How much do extensions cost?
Each type of extension has a different average cost and price range. For example:
- The average loft conversion on a semi-detached house costs around £50,000
- Adding a conservatory starts at roughly £11,625 and rises to £20,000
- A kitchen extension can cost between £1,500 – £2,000+vat per square metre.
And each provider may offer a slightly different quote. These are based on factors related to your property and requirements.
How to know which type of extension to choose?
Bring in an expert surveyor to provide a personalised quotation. Ask for guidance on how much value the extension will add to your house.
You should also get a timeframe for completion. These factors will help you to decide.
2. Carry out renovations
You don’t always need to extend your house. Instead, you can renovate what’s already there.
This is ideal if you have a room that needs serious attention. Kitchen and bathroom renovations are the most popular. This might involve:
- Putting in new floors
- Fixing new appliances or equipment
- Repainting the walls
- Adding natural lighting.
Get quotations from several potential contractors. And ask estate agents or conveyancers for estimates on how much value it will add.
The size of your house and the room’s condition will impact how much value it adds.
For example, renovating one bathroom in a large house with four bathrooms might only slightly increase the value.
However, renovating the kitchen could significantly increase a one-bedroom flat’s value.
Is selling your house as a ‘fixer-upper’ a good idea?
Some buyers are more interested in buying ‘fixer-upper’ houses than renovated ones.
However, their interest is usually related to the fact they can make a lower offer.
Selling your house without renovations might bring benefits (avoiding stress, accessing cash quickly, etc.) But it is unlikely to increase its value.
3. Improving energy efficiency
Energy Performance Certificate (EPC) ratings influence property values.
An improved energy efficiency means that your property retains heat better in winter. This will reduce your energy bills (and, of course, your buyer’s!).
There are lots of ways to improve your energy efficiency. Some examples include:
- Double-glazed windows
- Installing solar panels
- Upgrading your boiler
- Adding an extra layer of insulation
- Using ‘smart meters’ and other technology.
A few of these additions are inexpensive. Smart meters, for example, are relatively cheap.
However, upgrading your boiler or installing solar panels is expensive.
Your house’s existing features impact which option is best. You don’t need double-glazed windows if you already have them. You may also have a boiler that performs excellently.
Ask an EPC expert to rate your house and recommend improvements. Then, you can then decide whether these changes are worthwhile.
4. Get planning permission
Getting planning permission saves your buyer from having to get it themselves.
The cost of submitting a full planning permission application in England is between £578 and £624.
It could increase your property’s value if potential buyers want to build an extension.
5. Keep an eye on external circumstances
External factors significantly impact your property’s value. Although you cannot often influence most of them, you can pay close attention to them.
Selling your house is all about timing. If you wait for certain milestones to be completed, your property’s value might rise sharply.
Local factors
A few local factors that could impact value include:
- Amenities or controversial projects being built nearby
- Ofsted reports for local schools
- Release of crime figures.
National factors
National housing market conditions are essential, too. Interest rates and buyer activity impact how much properties sell for.
Pay careful attention to these and ask an expert’s opinion on them.
If you time your sale right, you could add several thousand to your selling price due to timing.
Time of year
Different property types and locations also have optimal selling times. But generally, the best time to sell a house is in Spring, when buyer activity is high.
Other factors should be considered, like estate agent availability and personal circumstances.
The worst times to sell are during school holidays and Christmas, as people are distracted.
It’s essential to consider these factors and consult with a local estate agent to determine the best time to sell your house.
6. Stage well and increase curb appeal
House staging refers to making it attractive for viewings. And curb appeal refers to a house’s exterior appearance.
Both of these need to be considered before house viewings. And both involve small or significant changes. It really depends on your property’s condition.
First impressions are crucial for how much people will offer. Some inexpensive steps you can take include:
- Tidy away clutter
- Fix broken lightbulbs
- Mow your grass
- Clean your cars
- Fix broken windows or doors
- Do the washing up
Each one of these tasks is unlikely to skyrocket your house’s value by several thousands. But when combined, they have an enormous impact.
Should you stage a house yourself or get outside help?
Most people stage their houses and increase their curb appeal by themselves. This is the cheapest option.
Some will even ask friends and family for ideas and help doing these, too. Estate agents can often give good free advice, too.
However, people with larger, more expensive properties might hire professional staging companies. These will charge a flat fee or even a percentage of the sale’s cost.
7. Create a downstairs toilet
Downstairs toilets add a surprising amount of value onto a property.
They are preferred by older people who might not find walking upstairs easy.
It’s also ideal for people who don’t want guests wandering upstairs.
Your downstairs toilet does not need to be enormous. You could spend around £2,000 getting it installed in some cases.
Ask several contractors for price quotations and then compare. You might get less expensive if you convert a pre-existing room, such as a large cupboard.
Ask an expert how much value a downstairs toilet would add, if possible. It may be up to £20,000, or even higher.
8. Spruce up your back garden
A back garden is a major feature. Its condition will affect your property value.
You can make it look larger by cutting back overgrown branches. It might be worth paying a landscape gardener for recommendations.
There are dozens of other ways to give your garden extra life. You could:
- Buy new plants
- Cut the grass
- Get a new shed
- Install a trampoline or football goals
- Trim the hedges
- Repair your patio (if necessary)
- Decorate with deck chairs.
Ask your estate agent for advice on what age range is likely to be interested in your house.
This will impact the choices you make.
For example, an elderly couple will be uninterested in a trampoline or football goals.
They might focus on deck chairs and easy mobility. But for a young family, lots of space to entertain children is essential.
