Is your home your biggest investment? If so, then you’ll want to make sure that it’s protected by taking the necessary steps to ensure that its value increases over time. While some homeowners overlook the many different things they can do to increase their home’s value, it’s actually possible to do quite a bit if you know where to start and how to go about things. In this article, we’ll go over 10 different ways you can increase the value of your home in the United Kingdom today and improve its resale value in years to come.
1) Smart Upgrades
A lot of people think it’s smart to make upgrades that boost the short-term appeal and curb appeal, but often these improvements just aren’t worthwhile. Smart upgrades include ones that increase comfort or long-term value—think of a new roof, efficient heating system, or high-tech security system. Another smart improvement: making additions and structural improvements (like adding a room) that pay for themselves in resale value. For example, if you add a downstairs toilet extension, you can increase your home’s resale value by £25k—more than enough to cover costs! When thinking about upgrading your home, don’t be fooled by shiny bells and whistles; think big picture instead.
2) Clever Staging
Decorating a room can be difficult. It’s not just about picking paint colors or fabrics; there are other elements to think about. If you want to increase your home’s value, try staging it. In other words, make your house look like someone lives there – and live in it yourself for a bit before you put it on sale. People will see that you’ve made an effort with your home and will know that they’ll be getting what they pay for (versus fixing up issues after buying). This is especially useful if you have a fixer-upper! Staging is also great because buyers don’t have to worry about making sure everything is perfect before moving in; they just need a good price.
3) Fresh Coat of Paint
In recent years, it has become fashionable for homeowners to paint their homes bright colors like purple and pink. While some trends should be left in style magazines, investing in a fresh coat of paint is a great way to increase your home’s value. Not only will you get an inexpensive face-lift for your living space, but you can also appeal more closely to potential buyers when it comes time to sell. In addition, opting for low-VOC paints means that you can reduce indoor air pollution and improve indoor air quality. There are plenty of additional ways that painting can increase your home’s value; here are just 10 of them.
When we move into a new home, it can feel like a fresh start in our lives. While downsizing is often one of our reasons for moving, it’s also good to remove excess items that don’t serve us in a new place. It may be tempting to hold onto old mementos or precious family photos, but in reality, most of them can be digitized and stored more efficiently. If you’re trying to increase your home’s value, make space by donating unwanted things or storing them with friends and family (or at an offsite storage facility). It will help make your house look clean and feel spacious—which are two crucial qualities for buyers when considering whether or not they want to purchase your property.
5) Add Some Focal Points
If you’re trying to upgrade your home, there are countless ways you can do it. But many of these changes require a large investment of time and money that not everyone is willing to make. Fortunately, all hope is not lost: You can still improve your home’s value without making drastic changes. A few small upgrades can really add some focal points that make a big difference in how much people think your home is worth, even if you haven’t spent a ton of money on it. Here are 10 easy ways you can increase your home’s value
6) Increase Curb Appeal
If you want to make your home more valuable, you have a few options. One easy way is by improving curb appeal—or that first impression someone gets of your house when they pull up outside. Paint your front door a bold colour like red or yellow and plant some brightly coloured flowers in front of it. Put up hanging baskets or use potted plants on a porch or terrace. Or go high-tech with motion-sensor lights and speakers that play music when people get near your door—it’s all about making an inviting first impression!
7) The Yard Makes All the Difference
Landscaping and curb appeal are crucial when it comes to increasing your home’s value. While you may have thought of landscaping before, don’t overlook simple things like fresh mulch or putting plants around your mailbox—even seemingly small things can make a big difference in how potential buyers perceive your home. And remember: Having a well-kept yard doesn’t just increase home value—it’s also something neighbors will notice! That can only be good for business. Of course, another way you can add curb appeal is by making sure your house is clean and ready for visitors; after all, if everything looks great from a distance, you’ll get more interest from passersby.
8) Get a Pre-Qualification Letter from a Lender
If you’re looking to increase your home’s value, a renovation project is likely on your list of ways to accomplish that goal. Before you start ripping out walls and gutting bathrooms, however, it’s important to know whether or not a renovation is in your budget. A good place to start: getting a pre-qualification letter from a lender. This document outlines an estimate of how much financing you can qualify for. So if £100K is all you can handle in terms of a home renovation project, it’s time to put away those power tools and opt for remodeling ideas that don’t require as much investment.
9) Fix That Leaky Faucet!
A leaky faucet might not seem like a big deal, but it can seriously add up. According to various estimates, repairing a small leak could save as much as 500 gallons of water per year. If you are trying to increase your home’s value, that extra savings could be just what you need for repairs or upgrades without dipping into your pocketbook. While fixing a leak isn’t exactly rocket science, it’s probably best left in the hands of a professional—that way you can spend your time figuring out how else you can make improvements to help boost your home’s value. With that said, here are some ideas: 1) Consider putting in new flooring.
10) And, Finally, Price It Right!
You may not realize it, but you can inflate or deflate your home’s value just by adjusting its price. Real estate agents say that a house that lists at £200,000 is more likely to sell at £180,000 if they price it well below its comparable sales. But pricing high is also a strategy—it makes your home seem more desirable and forces buyers into a competitive situation (or they walk away). That’s why homes are often priced higher than they’re worth; if no one bites, sellers can always drop their price later on. In general, experts agree that pricing right usually comes down to finding a number that feels right for both you and your buyer.
A home is a long-term investment, not an asset that should be expected to perform like one of Wall Street’s more highly valued companies. Investing in improvements that increase your home’s value isn’t about making your property worth as much as possible now; it’s about preparing it for resale when you go to move, increasing its marketability, and helping you get as much return on your investment as possible. Whether your home will be a primary residence or an investment, maximizing its value is always smart. Here are 10 ways you can start doing just that today