10 ways to boost the value of your home
Whether you want to move or just improve – doing some ‘homework’ could really pay off, says VICKY SHAW
SPRING is finally in the air and for some home owners, it’s time to start thinking about redecorating or putting their property on the market, as the new selling season gets under way.
Across the UK, owners have spent an estimated £41bn doing up their homes over the past five years, according to the NAEA (National Association of Estate Agents) Propertymark.
Nearly three-quarters (73%) made improvements to their properties during this period, with redecorating, landscaping the garden, adding new flooring and refreshing the bathroom among the most popular home improvements, forking out an average £1,875 in the process.
Mark Hayward, chief executive of NAEA Propertymark, says: “There are many reasons why home owners are improving their property – whether it’s because they have realised the value and sale potential it can add, or they are looking to make the most of what they’ve already got.
Your house will almost certainly be more attractive to buyers with some general sprucing up and cleaning, and improvements that create a sense of space, privacy and give a great first impression will increase saleability.”
A quarter of home owners thought improving their property would be a good investment and add value, the research found. But home improvements can be costly – and the potential to add value often depends on what’s happening in your local property market – so you’ll need to weigh up whether they are worthwhile.