If you’re looking to sell your property in the near future, there are plenty of methods you can use to ensure you maximise its value. Here are a few tips to set you on your way.
Identify existing structural problems first, before you embark on any cosmetic improvements. While cosmetic work can hide a multitude of sins from a buyer, it’s pretty unlikely that an experienced valuer is going to be fooled. Examples of structural problems include leaking roofs, mould, rising damp and rotten joists. While these defects can be repaired, they’re usually expensive. However, try to consider any substantial structural restoration as an investment – they’ll add considerable value to your property if carried out properly.
Central heating is a really big factor for buyers when it comes to investing in a property. It adds a lot of value and is actually considered as essential these days, both with buyers and valuers. Although installation prices can range from £3-4000 for a typical three bedroom Victorian house, it will be well worth it in the long-run.
If your home hasn’t been rewired for a long time then it might be a good time to get it done. You can usually tell if a rewiring job is needed by looking at the kind of meter you have. If it’s an old fuse box then you’ll probably need to get your property rewired. In addition, a modern consumer unit with a RCD (residual circuit device) will be required. Adding extra sockets is another good way of adding value as well.
Archaic pipe-work can be very troublesome leading to things like poor hot and cold water flow, knocking, rattling and even foul odours. In worse case scenarios it can also lead to burst pipes. So consider installing a pressurised plumbing system instead of the less expensive gravity fed systems. This will eliminate the need for a header tank which can free up space.
Like central heating installation, updating plumbing and wiring can be very disruptive and can sometimes involve lifting floors and chasing out plaster walls. With this in mind, find out exactly what’s required before making any cosmetic repairs to your property.
Correct Small Defects
Minor defects don’t usually affect the value of a property. Nevertheless, if there are too many, the chances are that your property will not sell at its optimum price. An accumulation of defects can be very off-putting both for valuers and potential buyers. Things like peeling paint, broken door latches, mouldy sealants, dripping taps, loose tiles and cracks in walls can give bad first impressions and should therefore be corrected. In most cases, minor repair jobs require very little DIY experience.
Loft conversions are extremely popular, especially in cities like London where space is at a premium. Typical conversions cost around £500 per metre squared. Building extensions like these can be very shrewd investments provided they’re done properly and comply with building regulations.