Remortgages



Five ways to add value to your property

January 15, 2021
Information published was correct at the time of writing

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With interest rates low and property prices rising (despite the impact of the pandemic) coupled with the fact that many of us are spending more time than ever in our homes, now could be a good time to upgrade your property. Not only will the works improve your everyday life, they can also raise the property’s value if you do choose to sell. The question is, where to start?

Here are five ways to make your home a better place to live – and boost its market worth at the same time.

Create an open-plan living space

There’s no sign the trend for open-plan, kitchen-living rooms is going anywhere soon. Creating the space is relatively straightforward (although be sure to check whether any planned changes require building control approval): a professional builder will be able to remove a separating wall safely and have the job done in a week – usually for under £5,000 although this will depend on any structural works that could be required. The resulting area can blend dining, entertaining and even work, creating a communal focus for the house. With spaces like this always in demand, it’ll more than pay for itself when you do sell.

Up your bathroom game

The downstairs toilet is one of those things you didn’t know you needed until you have one. If you have ‘dead space’ – say under the stairs – a second loo delivers extra, ahem, convenience and can be a factor in persuading a prospective buyer to make an offer. If your budget is bigger, an en-suite bathroom is a strong selling point, but ensure any works don’t impinge on the quality of any adjacent rooms.

Build a ‘designer’ extension

According to the Nationwide building society, increasing your home’s floor space by 10 percent adds five percent to its value. However, it’s vital that any extension is designed by a rated architect. Not only will their expertise ensure your new space is used to its fullest extent (say, for a new kitchen or home office) but the professional finish will attract the eye of possible buyers, even if they’re just browsing homes on the internet.

Add a ‘WFH’ loft conversion

Working from home (WFH) is here to stay, which means you or any future owners may need a place to work away from the noise of family life. Loft conversions work for several reasons. Not only do they normally not require planning permission (although they might require building control approval), but any works can be confined to an out-of-the-way area of the house – and they shouldn’t disturb the neighbours either. According to The Sunday Times, a well-designed loft conversion could add between five and 15 percent to the value of your house.

De-clutter and decorate

If funds are short, you can still make your home more attractive to buyers. Firstly, take a leaf out of British artist/designer William Morris’s book and ditch anything that’s “neither useful nor beautiful”. Then, redecorate your home in a neutral, modern palette that will appeal to as many people as possible.

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