I have previously written about improving your kerb appeal – CLICK HERE TO VISIT BLOG
However, in this blog I will go into further detail about how to increase the value of your home during the initial renovation works OR if you are keen on undertaking slightly more extensive work to achieve a higher sale price. Sometimes people buy a property with the understanding that it suits them for now but they may not stay there for that many years as their family grows. If you are conscious of what you spend and hope to be able to make a good return then read on for some tips…
Kitchen and bathrooms are without doubt the most important rooms within a home and can be huge deal breakers on higher sale prices or achieving a sale at all. Here are some tips for each:
KITCHEN:
KITCHEN EXTENSION- extending the square footage is a safe bet in terms of increasing the demand BUT ensure you are not spending more than the value you will be able to get in return. Check the ceiling prices within the nearby area for similar style homes and seek builders & estate agent advice prior. Always gain the appropriate permissions before starting any work.
APPLIANCES:
There is no point in installing the most expensive branded goods if the house price will not reflect it but this is still an important factor and a happy middle ground is a good aim rather than picking the cheapest models for everything – viewers do take note of this!
KITCHEN CABINETS, WORKTOP + FLOORING:
These are all extremely important as typically it is quite easy to notice when extra money has been invested into them rather than the cheapest options and still demanding high sale prices – buyers do not like this and feel a bit mugged off. There are plenty of options for flooring so I won’t bore you with all of that within this blog but it is best to try for a happy medium again. The cheapest laminate will not be the best option in terms of achieving a good price on an expensive property or if you are trying to go above the ‘usual’ ceiling price on the street. It is also, a bit of a waste to go OTT and spend many thousands on oak herringbone unless the house is within the right bracket. Try and mix and match between; spend a little more on the floor and worktop (e.g. quartz) install mid-range decent appliances and perhaps a cheaper range shaker cabinet that no longer looks ‘cheap’ next to the other combinations. Buy more expensive cabinet handles, kitchen sink and tap etc to set it all off. Unless you are creating a million-pound mansion, it’s all about balance!
BATHROOM:
Bathrooms are extremely important I would class them as second to the kitchen. My partner says I’m a bit weirdly obsessive over them but.. I’m sure you will agree it is justified! Bathrooms can be severely disruptive to renovate if there is only one or for a larger family. This means it is even more important to ensure the bathroom is a good selling point. Kitchens may be more expensive but I can assure you that no working toilet or shower is quite the predicament.
In terms of keeping costs down, if your positioning is roughly similar to the existing bathroom then that makes life easier for any pipe work (plumbers fees + materials) I would advise that you balance between lower priced options for some features – e.g. possibly the shower tray and toilet but spend more money on good quality taps and a feature bath or double basin vanity. Pricing for bathroom can actually wildly escalate very quickly so make sure you price everything up before. There are a lot of different components so unless you have a never-ending budget, plan carefully! Personally, I think a statement bath and good quality taps absolutely make a bathroom! But maybe I am just weird…
EXTRA SPACE:
I’ve mentioned extensions but there is also the possibility of loft conversions, garage conversions and basement conversions. Again, speak to a builder and estate agent for second opinions on what would work best financially for the local area and specific property BUT either way, more space will often mean a higher sale value. Just be careful that you are not blindly throwing money to add space and come to realise you are now in negative equity because the end figure is lower than you were expecting! Always gain the appropriate permissions before starting any work.
ADDITIONAL ROOMS:
There are ‘bonus’ rooms that people love the idea of so if they are possible and work well with the floorpan then they would be a good perk:
Utility room – upstairs or downstairs as according to my Instagram poll, it was a 50/50 split on peoples preference!
Pantry – obviously I am biased because if you follow my Instagram, you will know how obsessed I am with my own! I think they are such a good additional feature
Boot room – I’m obsessed with the idea of a boot room with an external door, would make life so much easier with our dog and I imagine it also would with kids!
Ensuites – I haven’t wanted to use ours anywhere near as much as I thought which I find odd.. even odder, I still see it as an absolute essential for moving home now.. am I weird? I think they are very important for family homes and a huge bonus in that sense!
Downstairs Toilet/WC/Powder Room – Not an essential but if it could fit in well with the floorpan then it would be a huge bonus, especially for larger family homes.
Gym – some people use them. Some people tell themselves they will use them if they have one in their own home. Either way, they are a great selling point!
Bar/Club/Pub – seen some very cool versions of all on Rightmove! Let your imagination run wild. I love the idea of any of them
Home Cinema – not massively in to this one personally BUT I think it would probably be great with kids! Definitely a very cool addition to any larger home.
Playroom – I’ve lost count of the amount of times I have heard this as a ‘must have’ during viewings. This could be the alternative instead of a second or third lounge or dining space etc.
Swimming Pool – probably the most extra thing I could think of. I was absolutely dying for one last Summer because it was the hottest in England on record. I can’t even swim but I NEEDED a swimming pool. Maybe next year…
Outdoor Kitchen – I think these have massively grown in popularity since the whole ‘covid lockdown thing’ (what a wild time to be alive that was) Again, I am absolutely desperate for one. They are amazing in Summer, however brief that Season is in England – I am still in urgent need of one…
COLOUR SCHEMES:
This depends on the size of the house – if it has less rooms I would decorate them in all a combination of different neutral tones and incorporate colour with items that can be easily switched around e.g. art work, cushions, curtains, sofas etc and all accessories. I would perhaps do one statement room e.g. darker colour painted plaster because that is fairly easy and cheap to change if the new buyer wishes. If the house has a few more rooms/larger room size with higher ceilings that can carry bolder colours then I would definitely be braver with some statement colours – you can then add neutral accessories so it balances it out.
This is down to personal preference but in terms of achieving a good sale price – buyers will not want to walk in to something that is too personalised and will think about their additional redecorating costs if it is too ‘out there’. The same can be said for a large house that is completely boring – some people like that in fairness but I often see ‘flipped’ properties on Rightmove that have very clearly had a property developer decide the cheapest and quickest decorating options eg. White walls and grey flooring in every single room.. This is safe but will not typically achieve the highest price possible in my opinion. (I’m sure some people may disagree with me on this)
SMART HOME FEATURES:
Increasingly popular, the world is your oyster with the fun toy additions to the home! However, as this isn’t a Tech blog, I’m not going to pretend to know everything about what you can add but what I will say is that they are a HUGE selling point. Even if they do not essentially ‘add value’ they can be the edge over other properties in terms of actually gaining the sale. In new homes, you can basically control the whole property from a touch screen and anything that makes a homeowner’s life easier is likely to get a better price. Again, common sense comes into play here as it is not worth going overboard on lower priced properties whereas other higher values – certain features will be expected as standard.
Some of the most popular include electric gates, smart locks, thermostats, lighting, and security systems – CCTV, alarms – the list goes on! Depending on your budget and needs, you can find these items in a variety of styles and price points. Additionally, there are some new technologies available such as voice-activated devices, connected appliances, and automated blinds and curtains.
DRESS THE PROPERTY:
I’ve mentioned this a few times now but probably because of how important I feel it is. If you want to get a better price for your home, your buyer needs to walk in and envision themselves living in it. Each room should be very clearly fit for purpose and should have a nice feel to it. e.g. a spare bedroom as a luxury guest room rather than the laundry dumping ground. Plenty of houses sell that are not show homes and that’s fine but if you want a better price for it, you need to be realistic about what you are actually offering and it needs to stand out as genuinely worth the extra money to that buyer. A lot of people get a bit greedy about selling their own home and think it is more special than it actually is – that sounds a bit harsh but I’m sure you’ll know what I mean if you think about how wild Rightmove has been in recent years. Plenty have come up for sale for ridiculous prices and yes many have sold, but there are still lots that haven’t and had to be reduced! If you want a good price for your home then you need to aim for as close to ‘dream show home’ vibes as much as possible.
LANDSCAPING:
Probably within a similar category to dressing the house in the sense that gardening in a long game and the work that you put in early doors is always hugely appreciated because of how long plants and trees can take to really flourish. I would aim to go in the middle again as a boring garden is quite off-putting but something high maintenance isn’t ideal for most people either. Ensure you are making the most of the space by enhancing its beauty but not overcrowding or wasting space that could be useful for parking, garden sheds, seating areas etc. Pinterest is great for inspo on this as well as my beloved Instagram! (Not my page specifically – you would be very disappointed on the green finger front!)
It’s important to keep in mind that not all home improvement projects will recoup their cost in a higher home value. It’s important to research and prioritise projects based on their potential impact on the value of your home. Its easy to get carried away and want to do everything exactly how you want it but if it isn’t a forever home and you want to get money back out of it then you need to be very careful in where and how money is allocated.
CENTRAL HEATING SYSTEM/ RADIATORS:
How old is the central heating system? How is it controlled? Is it old fashioned? Does it heat the house well? Are there enough radiators? Are the heatings zoned off for effiency? Are the radiators and fitting a nice finish or basic?
These are all increasingly important factors considering the price of gas and electric – heating the home is very important in England and my god has it gone insanely expensive. If any of the above isn’t really up to standard, expect that to be noted and no doubt reductions attempted by any buyers.
WINDOWS/ROOF/BRICKWORK POINTING/DRIVEWAY:
I’ve grouped these together purely because they are huge factors that cost a lot of money and are fairly obvious priorities. If any of them are in poor condition then you are opening yourself up to lower office and price reductions. This is all the more frustrating if a price is accepted and then the survey flags issues (roof, for example) and you have to knock a load of money off. The amount knocked off is also often more than it would actually cost you to have done yourself because in fairness, why would you want to pay top price for a house that still needs a new roof and you have to faff with all that work yourself? Sometimes negotiations can be made but let’s be honest, either way, it is added stress to a process that is already pretty testing as it is!
PLANNING PERMISSION AND BUILDING REGULATIONS
Before you carry out any works such as extensions, conversions, plumbing or electrical etc – make sure you have obtained the appropriate planning permission and building regulations – this is ESSENTIAL. Seek professional advice at all key stages.
There are a tremendous (what a word) amount of costs that are incurred during a property renovation. All the above are relatively obvious and people budget for them accordingly. I have written a blog on the Underestimated Renovation Costs – I suggest you pair the reading with that in terms of preparing yourself. Making back any money at all on a property can be a lot harder than people may think so make sure you have thoroughly prepared yourself and budgeted to avoid stress as much as possible!
CLICK HERE to read the Underestimated Renovation Costs Blog
I’d also like to add a little disclaimer that even if you are planning on buying a property to flip and sell right away, property prices are extremely hard to accurately predict given the current economic climate so add a few years in the mix and it’s even more difficult. Please take this in to consideration and don’t always assume that property prices can only go up.