Renovations that Add Value
The dilemma to either move or improve isn’t necessarily a choice because sometimes it’s a good idea to improve to move. With the housing market so buoyant right now, lots of people are jostling to get the best price for their property and are willing to make some changes to do that. Not all renovations necessarily add value enough to justify their cost though so here are some renovations that can make a difference.
It doesn’t need saying that a nice big extension would add value to your property but there are less drastic ways to make space and add value. Loft conversions are a straightforward way to add a room which always adds value but dividing bigger rooms upstairs to add bedrooms can also be a cost effective way to increase the asking price. Oddly enough, the exact opposite can make homes more appealing downstairs. By knocking out redundant space like hallways and creating more informal open plan living spaces, you can create the feeling of more space without needing to physically add space.
A totally different sort of space that people value is parking space especially in areas where parking can be difficult. Creating a driveway or parking area can be a good way to create value outside. Thanks to the ‘new normal’ of people working from home more, outside offices are also a good bit of extra inside/outside space to invest in.
While adding value is a very good thing, removing issues that could reduce the value of a property has the same effect. We know we talk about subsidence a lot but it really is a serious issue for homeowners. As such, it can have a substantial impact on the asking price of a property. Resolving any subsidence problems before you put the house on the market is, therefore, a good idea. Similarly with anything that crop up as an issue on one of Marc’s surveyor’s reports, it is a good idea to address things like a very old wiring system, dodgy plumbing and damp issues before a surveyor finds them and gives potential buyers leverage to barter down the price.
First Impressions Count
Improvements that genuinely add value don’t have to be big expensive things that fix major issues or require a big building project though. Sometimes just creating a good impression that looks great in estate agents’ photos can make a difference. Gardens can sell a property and ‘curb appeal’ is very real so sorting out the garden and giving the exterior of the house a lick of paint can make a difference. Updating kitchens is a good idea for getting the best price for a property as is sorting out any dilapidated windows.
As an experienced surveyor, Marc knows the sort of things that create issues for people buying property but can also help with projects that can add value. Whether you need some advice on which problems you need to address and what to do about them or would like some help managing or monitoring your building project, Marc can help. To talk to him about it, get in touch on 01273 281624 or email email@example.com.