Improving house value is a top priority for almost every homeowner.
When you sell your property, you will incur lots of costs.
So, you need the selling price to go up to balance this out and ensure you make a profit.
House value going up in the UK isn’t out of your control. You can take clear steps to make it happen.
We’ve gone through the most common ways of doing this in the blog below.
1. Increase square footage
Square footage is the first thing that lots of people look at when buying a house.
It has a significant effect on the functionality of your property. This includes how many people can live there.
Buyers often favour the one with more square footage if two properties are neck-and-neck in all categories.
Most homeowners increase square footage by paying for an extension. You could add a conservatory to the back of your house.
Or a dormer addition gives more space on the top floor. You can add an outbuilding at the bottom of your garden.
All of these changes need investment, so budget for it. You mustn’t cut corners.
These extensions must have electricity, water, and gas connected. And they need to be functional and aesthetically pleasing.
2. Stage your home correctly
First impressions are key.
When buyers walk around your property for the first time, they’ll form an opinion on whether they want to live there.
You must push them in the right direction by making your home look fabulous.
Staging your property is an art form. Declutter and clean before viewings occur.
Then, make the most of natural light and depersonalise the rooms.
You don’t want your house to look ‘cold’ and uninviting – but a blank canvas makes it easier for visitors to picture themselves living there.
Make sure that every room has a clear purpose.
Tidying up your outdoor spaces, such as cutting the grass and fixing cracks in the driveway, is also essential.
If you’ve got an unattractive car, some homeowners park it on a separate street on viewing day.
All these small details add together to have a significant impact.
3. Choose the right estate agent
You should put careful thought into the estate agent you choose. This professional can make or break your house sale.
It can move things along quickly when they’re efficient and have an extensive network. And this creates competitive bidding, meaning your value goes up.
But on the other hand, a poor estate agent may undervalue your property.
This could result in you selling for less than you could’ve done elsewhere, mainly due to inadequate staging or a lack of marketing.
4. Get your timing spot-on
Although it seems strange, your house value can increase or decrease based on the time of year, even if it’s the same house!
Property values react to external factors.
For example, house prices tend to go up when interest rates go down. This is because mortgages are more affordable for buyers.
Some government initiatives may also influence house prices.
Financial assistance for buyers can bring more people into the market. And this pushes up values. So, keep an eye out for these.
The market tends to go quiet during Christmas and August. With fewer buyers, your value goes down.
But many buyers enter the market in Spring and Autumn, pushing prices up.
5. Carry out tasteful renovations
You shouldn’t carry out renovations without careful planning first.
Throwing lots of money in your kitchen or bathroom is useless unless it’s done tastefully! Planning is key in this area.
When you scrimp and save on renovations, it usually results in a below-par finish. It’s not worth cutting corners in this area.
Hire an experienced professional who gives a clear plan for the changes.
Focus on the areas that need the most work.
Ask an estate agent what buyers are most likely to complain about. And then spend money to get these elements updated.
Ensure it’s in keeping with the décor of the rest of your home.
6. Reduce your utility bills
Not every buyer is eco-conscious, nor will they put much thought into the Energy Performance Certificate (EPC) rating.
But these details can significantly impact how well-insulated your property is.
If you can demonstrate excellent energy efficiency, it’ll reduce heating bills.
There may be other ways to achieve this goal. Lots of people view solar panels positively for the same reason.
Not only can it reduce electricity costs, but you can sell excess energy to the grid.
Extra insulation will keep your home warm in the Winter. If your property struggles with this, it may be worth investing in.
Your house value can go up as a result of all these things.
7. Make exterior improvements
You shouldn’t only focus on the inside of your home when you’re trying to increase value.
The exterior is just as important as anything else. Make sure to give this the TLC it deserves.
Get rid of any problematic plants. Japanese Knotweed is a typical example. You should also fix cracks in the driveway and pathway.
These are not only unsightly, but they can be hazardous.
Problems with the roof or gutter should be fixed. And if there are cracks in the brickwork, or it’s dirty, that’ll be immediately noticeable when your buyer turns up to view.
Get these sorted, and you can sell them for a much higher price.
8. Add storage
Storage may not be the sexiest word in the world, but it’s crucial for all homeowners!
There’s nothing more frustrating than having piles of items and nowhere to put them.
Speak to an expert about ways to increase storage in your home. It’ll push your property value up, especially with more prominent families.
9. Convert a useless space
Loft conversions and basement conversions are both excellent ways to achieve this.
All your viewers will appreciate ‘fixing it up’ if the room is empty and unused.
Make sure to connect electricity, water and gas if possible. This is especially important for a bedroom or living area.
10. Get planning permission
You might be surprised that you don’t need to change your house to increase its value. Getting planning permission is one of the best examples.
Not only do planning applications cost money, but it involves time and effort. And it’s challenging in a protected area.
So, if you get this done before selling, your buyers will be relieved if they plan to extend similarly. This often translates into a higher offer.
11. Keep waiting!
Houses in the UK have an excellent track record of improving year-on-year.
As the years pass, your property is statistically likely to increase in value.
That’s why many people wait as long as they can before selling. Over the years, you could see the price go up by tens of thousands.
