How To Improve Your House Fast

What do you do if you want to sell property fast but are wary of trying to sell property fast in a depressed market? With banks demanding higher deposits and 100% mortgages being a thing of the past, first time buyers are at an all time low. In the current market, it’s quite usual to wait 6 months or more before finding a buyer for your property. If you need to sell more quickly you might be happy to lower the asking price for a fast sale however, you’ll still have the additional costs of the estate agent and solicitor for example. If selling on the open market is not an option for you, you might want to do some improvements on your home so that you can create a home that is more suited to your lifestyle: you can also add value at the same time.

What improvements add value?

1. An extension can add the biggest value-anywhere from 10-50%. Living space can be a premium in city areas so this is an investment worth making if it is done properly. This is different from a conservatory which typically would add only 5%, although it still could be worthwhile for extra living space.

2. Similarly a loft conversion, creating a new room with an ensuite could add 5-10% on a property’s value. It might also be worthwhile to add an ensuite to one of your existing bedrooms if space allows as, in some cases, it can add up to 5% in value.

3. Everyone loves the kitchen and usually the bigger the better. A new kitchen could add an extra 5-10% to the property’s value.

4. Perhaps surprisingly, improving the exterior of a property can increase the value by up to 15%. First impressions count, and a well-presented property with an attractive garden can work wonders. Don’t neglect the outside of the building.

How you do the work matters.

You need to make sure that your money is put to good use by choosing to make the right improvements to your home. What is important when considering the right improvements to add value?

1. Make sure the work is done properly. Choose a builder who knows what he is doing. Cheaper is not always best: there are some cowboys out there! Don’t attempt the work yourself if you are not confident that you can do a good job. Bad D.I.Y. can infact devalue your home.

2. Make sure the improvements are in keeping with the style of your property. Extensions, particularly on the front or side of a property that are out of character with the rest of the building and are badly designed, are unsightly. This is likely to be off-putting to a potential buyer.

3. Take the value of similar properties in the area into account. For example if the average price of a 4 bedroom house in your street is £350,000, it’s highly unlikely that you will achieve a much higher price. If you want to find out the true value of homes in your street, you can look at sold prices on websites such as Rightmove for example.

Good luck with improving your home and its value!

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