1. PaintMany of the major DIY and home stores have sales on over the bank holiday weekend, which always makes it cost effective to stock up on essentials such as paint. For a very small investment, you can transform a room and make a huge improvement. Potential buyers feel put off by having to carry out this work themselves, so when your home presented in a move-in state, with freshly painted walls and woodwork, you are likely to sell quicker and at a higher price. But remember, keep it neutral, don’t add garish splashes of colour which your buyer will have to cover up when they move in.
2. InsulateHaving your home well insulated is a huge plus for buyers, as it can reduce heat loss and cut energy costs in the long run, a benefit for every homeowner. According to a Government report, making improvements to a property’s energy efficiency rating could add more than £16,000 on average to the sale price of a property. There are many grants available for cavity wall and loft insulation, so this one may not cost you anything at all.
3. Give it curb appealWhen you are selling your house, chances are you cant avoid getting people in through the front door, which makes it smart to create a lasting impression. Small upgrades can create an eye catching exterior on any budget. Often, sellers overlook the front entrance, but first impressions are crucial and sometimes it is the most simple of things, which make the most difference. A freshly painted front door will make a good impression to potential buyers and an affordable quick fix is to replace or renew door furniture too. Getting the outside as presentable as possible and keeping up with exterior maintenance is important. At the very least you want the outside to look better than your neighbours, which means painting the exterior of the house, cleaning out gutters, cleaning dirty windows, and having a driveway clear of rubbish.
4. Replace flooringTake a look at your flooring. Are carpets looking tired and worn, laminates chipped and uneven? Nothing will turn buyers off more than having to replace all the flooring in a new home. It is a good idea to evaluate your floors when selling your home. Ideally you want to replace worn carpets and laminate but if your budget doesn’t allow for replacements, hiring a floor cleaner for the day to get those carpets spik and span, and laying down a cosy rug, is a good alternative.
5. Apply for planning permissionApplying for planning permission gives potential buyers possibilities and makes them feel like they are getting a lot for their money. Even if you don’t have the money for an extension or similar, submitting plans to your local planning authority will cost a few hundred pounds and will last 3 years if granted. It will ultimately make buyers feel they can put their own stamp on the property. It also provides security for potential buyers, as they can be sure that if and when they come to sell and move on, they too can increase the value by carrying out the work.
6. Modernise the kitchenOk, so this may take a little longer than a bank holiday weekend, however it is probably the easiest way to add value to your home. The kitchen is often the heart of the home, and therefore a major deciding factor of whether to purchase a property or not. If your kitchen could do with a makeover, investing in this room, when you come to sell really will increase the value you achieve, and reduce time to sale. However, if you do decide to replace the kitchen, bear in mind, you are not replacing it for yourself, so, as with painting, keep colours neutral. Plus, do the maths – it is easy to go overboard and spend £25,000 on a kitchen. This may look great, but if your house is only worth £200,000, you wont recoup your investment. Rather, spend £5,000 and you will still have improved the kitchen, plus, will make your money back. If budget is tight, replacing cupboard doors and the worktops is a cost effective alternative, which will also really pay-off – but don’t spend thousands on a kitchen your buyer is likely to immediately rip out.
These are only a few of the ways you can increase the value of your home on a budget, there are lots more, and you don’t have to do them all. Pick out what suits you and your budget and make a start. If you are selling or thinking of selling your property, we are here to help. Contact your local Ellis and Co office or request a Sales Valuation when you are ready.