In the last two years, the gap between asking and selling prices of homes increased from 2.8% to 3.3%, which equates to a loss of around £10,000. Although in some instances this is down to over-optimistic house sellers, often it’s a result of people rushing to sell their homes without making any effort to improve the value of their property.
Although it may seem counterintuitive to spend whilst preparing for a costly move, renovating your home can actually generate a larger profit once you sell. We’ve come up with five ways to make your home more appealing to prospective buyers, so you can up the asking price and enjoy some extra cash in the long-run.
Fix existing problems
Signs of rising damp are a big red flag for prospective buyers, whilst cracks in the wall could see them running a mile. From a lick of paint to the interior walls to fixing structural issues like subsidence and damp, ensuring your property is in top condition before you sell is vital. It’s worth checking that your wiring, plumbing and central heating are in good working order too. At the right price, a fully functioning and safe home will sell much faster than one with risky underlying issues.
Update the kitchen and bathrooms
Whilst some buyers might be looking for a ‘project’, walking into an outdated kitchen with tired old cabinets or an ageing bathroom with mouldy grouting can be a real turn off. If you can’t afford to fully refurbish your kitchen, why not swap old cabinet doors and handles for modern replacements, or update the lighting arrangement with a contemporary design using spotlights and down lighting? In the bathroom simply replace the faucets, regrout the tiles and of course, get the Marigolds on and give it a thorough clean.
Remodel the layout
Adding an extension or conservatory to your home can hugely increase the value of your property, adding between £10,000 and £30,000 or more to the valuation. For some people, the cost of construction may be too costly, however, there are more affordable ways to remodel your home. You could knock through walls to create an open plan feel- just make sure you meet with an architect or structural engineer before you start wielding a sledgehammer. For an even more low-cost option, add fitted storage to bedrooms and living areas to optimise alcoves and awkward corners.
Makeover the garden
A well-kept garden is often the clincher for prospective buyers, so it’s time to put on your garden gloves and get pruning. Along with trimming the hedges and neatening up the lawn, you should pressure wash the patio and place some potted plants in any empty areas. You could also swap tired metal fences for sturdier replacements and fill in any gaps in the foliage with colourful flowers and plants. Another top tip is to add a secure shed or another outside storage unit; this will impress keen gardeners who need to store equipment outside.
Coat the roof and exterior walls
Adding high-quality roof and wall coating will improve the overall kerb appeal of your home. It’ll make it look fresh and new, without the cost of re-painting. The first picture a buyer sees on an estate agent’s website is usually a home’s facade, and peeling paint or faded tiles is not a good look. Not only will coating improve the appearance of your home, but it also has other benefits which will appeal to prospective buyers. Coating has weatherproofing qualities, adds an extra layer of insulation and offers long-lasting protection for any property.
While you may be able to carry out some of these jobs yourself, roof and wall coating requires a specialist hand. Here at Kingdom Coatings, we can restore your roof and exterior walls using premium waterproof coatings that will enhance the functionality of your property and entice prospective buyers to make the right offer. Get in touch with us today and find out how we can increase the value of your home.