SIX WAYS TO ADD VALUE TO YOUR HOME

Since the pandemic, buyers’ wish lists have changed. Here’s how to make sure your home will fetch the best price when you come to sell

Want to make sure your house is worth the most it can be, but unsure how to go about it? There are plenty of ways to improve the value of your property, whether you’re looking to sell, remortgage, or invest in the right things now to increase asking prices later. With the stamp duty holiday ending, nobody quite knows what will happen in the housing market, but it’s always a good idea to do what you can to add value to your home. “There are so many things you can do to boost the value of your home,” says Kirsty Burnham, head of property at Movewise (movewise.co.uk). “Some require significant investment – and therefore potential risk – but some cost nothing at all and can make a huge difference to value.”

CREATE A DESK SPACE

With flexible working looking like it’s here to stay, many buyers are looking for an area to create a home office. Most family homes don’t have studies, but Kirsty says this doesn’t matter as space in living rooms, kitchens and spare bedrooms all count. “Over the past year, buyers have, in many cases, changed their requirements,” she says. “If you have a space you can stage as a working area, then it would benefit your property value and is unlikely to require too much investment. It also gives buyers a good visual feel of how the space can work.” Got a viewing lined up? Tidy your living room and style up a neat desk space in it to show home working is an option. You can do this in a spare bedroom or the kitchen – anywhere tidy and attractive.

DECLUTTER ROOMS

Giving walls a lick of (neutral) paint and clearing out excess stuff will attract buyers. “It’s not just about adding value, it’s about getting more buyers through the door,” says Craig Bray, divisional director at estate agency Yopa (yopa.co.uk). Kirsty agrees – “Ensure rooms are clean and bright, with neat, tidy furniture and no clutter. Buyers make quick decisions on whether to view a property from the listing photos. You don’t have to be dull, but don’t be too unique as buyers will find it hard to imagine their own style.”

CONSIDER A CONSERVATORY

Adding square footage ups the value of a home – and a conservatory can be the cheapest option. “A conservatory costs around £5,000 and can increase the value of a property by around 10 per cent,” says Craig. “They add light and provide a sense of the outdoors, without having to brave the weather.” Make sure it’s double-glazed and blends in with the style of the house. “If you have a small garden, don’t risk the addition of a conservatory, as the smaller garden space will put off buyers,” warns Craig. Also mention other areas that could be converted into extra useable space– like cellars, cupboards under the stairs or lofts – in your listing and at viewings.

BOOST KERB APPEAL

On average, house hunters take just 10 seconds to decide if they like a property from the exterior, while over half would buy a property that looked attractive on the outside even if the interior needed extensive redecoration. That means painting your front door, weeding the garden and cleaning windows all pay off. “We estimate that simply improving your property’s ‘kerb appeal’ can boost the value by up to 10 per cent,” says Craig. “First impressions count, both when browsing online and in person.” Want a tip? Property company Sell House Fast found that blue is the most attractive front door colour when it comes to bumping up a home’s value. Brown is the least!

REVAMP YOUR OUTSIDE SPACE

Thanks to the lockdowns, outside space has never been at such a premium. Making sure your garden, balcony or terrace is tidy and presentable could add thousands to the value. “A professionally landscaped garden can add a surprising amount of value to your home – tens of thousands in some areas,” says Craig. But even mowing, weeding and pressure washing your patio will help. Craig also suggests presenting your garden as an entertaining area, which is another huge 2021 trend. “Outside entertaining is now a much bigger deal in the UK than it used to be,” he says. “Consider outdoor lighting [try thesolarcentre.co.uk], and set up garden furniture to highlight that it’s a great space for socialising. Keep your outdoor space low maintenance, though – you don’t want to intimidate buyers.”

WEIGH UP COST VERSUS VALUE

The average loft conversion adds 20 per cent value to your home, but it can often cost more than that to get it done. So, before undertaking any big renovations, weigh up whether it’s worth it. “Have a look at properties locally that have made similar improvements to see what they are achieving when sold,” Kirsty says. “In general, improvements that add living accommodation, square footage and bedrooms are worth the investment. Try to create a versatile space that will appeal to a broad range of buyers – local agents can guide you to what the majority of their buyers are looking for.” Craig also suggests prioritising getting a second bathroom. He says, “You can add up to five per cent value to your property and an average bathroom costs just £4,500 to put in. A second bathroom is right at the top of buyers’ wish lists, and a four-bedroom home should have a minimum of two bathrooms.”

SMALL CHANGES MAKE A BIG DIFFERENCE 3 ways to get smart with your cash

Lisa Conway-Hughes, aka financial expert Miss Lolly, shares her top money tips...

TIP ONE: There are four numbers you need to know and track. These are what you owe, what you own, what comes in each month, and what goes out each month. Knowing these numbers accurately will help you to track your cashflow and stay in control of what’s coming in and out, so write them down monthly.

TIP TWO: Always aim to have three to six months’ worth of outgoings in a savings account for emergencies. This is a huge goal for most people, so break it down and save what you can. Sometimes things can catch us out, so having even a small safety net is better than nothing.

TIP THREE: Only ever invest money that you won’t need in the next three to five years. That’s the rule, whether it’s stocks and shares, an ISA portfolio of funds, or crypto currency, because investment success is all about time in the market. You don’t want to be forced to sell at the wrong time because you have a short-term cash need. ● For more of Lisa’s advice, go to ladiesfinanceclub.co.uk.