Buying property is not just about acquiring a home to live in, it's also probably the biggest investment you'll make. Making the right improvements can dramatically increase a property's re-sale value, and shrewd homeowners are taking full advantage.
In the first of a series of guides, UpMyStreet gets you off the starting block with your plans to increase the value of your home.
Budget
Before you decide where to focus your attention, you need a realistic budget - and then you need to stick to it. This will dictate what improvements you make, and your potential profit. A bigger budget won't necessarily guarantee a greater return.
Labour and materials
Costs range significantly in price, so shop around for value for money. Be tactical about where you splurge and where you skimp - kitchen surfaces are high impact for example, whereas other features are less so. For good tradespeople, get recommendations from friends, or from locals using the UpMyStreet message boards
Choosing your project
Some of the main money-makers when it comes to increasing the value of a property:
- Adding space - Increase your home's square footage for maximum resale value. This could be a loft extension, conservatory, extra bathroom or even just some clever space-saving devices.
- Energy efficiency - With the new Energy Perfomance Certificates in Home Information Packs (from June 2007), energy efficiency will have an increasing impact on the value of a home. A new boiler, home insulation or double glazing will score you a higher rating and make heating your home cheaper - always a plus point for buyers.
- Outward appearance - This is the first impression a potential buyer has of your home. Even minor changes can make a big difference - pay close attention to the roof, and front & back doors, and restore period features where you can.
- Garden and parking - Both green space and off road parking score highly with buyers. Maximise the space you've got using your common sense, or get expert advice.
Personality
Keeping your home neutral - with whitewashed walls and beige decor - is often recommended as the route to selling at a higher price. But one of the main factors in deciding to buy, is how a property feels to the buyer. The ideal is to strike a balance between something they can make their own, and a home that you have brought to life, restoring its features and infusing it with your style.
Know the market
Research your neighbourhood to zone in on the demographic most likely to be interested in your home. If you bear their preferences in mind - a new kitchen in a family home, an open-plan living area for younger couples etc. - you could reap the rewards.
Avoid the pitfalls
Make sure you know what not to do
Related articles
Did you know?
Features buyers want most
- Environmental features such as a solar panel - 82%
- Attic rooms and loft conversions - 68%
- Period features - 63%
- Walk in wardrobe - 62%
Most important room to buyers
- Kitchen - 54%
- Living room - 30%
- Bathroom - 2%
The biggest turn-offs
- A home at risk of flooding - 94%
- Poor building work or DIY - 91%
- Proximity to a road or railway line - 88%
- An untidy house - 55%
Source - Nationwide survey, April 2007
Email us
Have you had a home improvement nightmare or made a good profit on your property?
Let us know if you'd like to share your story for a future UpMyStreet feature...
Useful links
- Average property prices - Property market trends for your area
- Neighbourhood profile - Get the lowdown on your area
- DIY and home improvements - Find stores and suppliers near your area
Your comments (12)
glen (Teignbridge), on 25/03/2008 at 15:43
we had blow air heating in our first house. couldn't sell it for ages.. and we beleive it was because of that. it was more expensive to run too. as we found out in our next property which had a gas boiler. The person who did buy in the end immediately replaced the warm air with a gas boiler. hope this was helpfull
gth3 (Glasgow City), on 18/03/2008 at 14:11
I have put in french doors to my flat about 3 years ago, im keen to sell the property this year.
Do i need planning conset for the work ive done or ive heard of a letter of comfort?
If so, where do i get one?
Carole (Stockton-on-Tees), on 20/12/2007 at 19:55
Wayne wrote:
IS IT TRUE YOU MUST HAVE A STAIRWAY TO A LOFT CONVERSION,NOT A LADDER FOR THE WORK TO BE RECONISED AS AN XTRA BEDROOM.
AND HOW MUCH WOULD IT ADD TO THE VALUE OF PROPERTY,3 BEDROOM TO A 4,CHEERS ANY HELP MUCH APPRECIATED,WAYNE.
Hi Wayne, you do need a proper staircase to a loft conversion, you also need building and fire regulations. If you do this it will add double what you have spent on the conversion. You will add 80% more floor area to your home. If you do not go through building regulations, you will find it very hard to sell your house without a completion crtificate from your local building control. More info on www.loft-conversion-specialists.co.uk
Ron Stoke (Staffordshire Moorlands), on 20/11/2007 at 19:39
Wayne wrote:
IS IT TRUE YOU MUST HAVE A STAIRWAY TO A LOFT CONVERSION,NOT A LADDER FOR THE WORK TO BE RECONISED AS AN XTRA BEDROOM.
AND HOW MUCH WOULD IT ADD TO THE VALUE OF PROPERTY,3 BEDROOM TO A 4,CHEERS ANY HELP MUCH APPRECIATED,WAYNE.
If you use the loft conversion as a livable room ie bedroom, bathroom study then you do, however, if you use the loft room for storage purposes then a ladder is acceptable. Always ensure that any structural changes are done properly and within building regulations.
Wayne (Wyre Forest), on 11/11/2007 at 11:32
Peter wrote:
DOES A CELLAR CONVERSION ADD VALUE TO THE PROPERTY ?
IVE SEEN MY DAD TURN A DAMP DINDGY SELLER INTO A CRACKING OFFICE FOR A TAXIS COMPANY.
I RECKON IF ITS NOT BEING USED FOR STORAGE
GO FO IT MATE,WAYNE
Skip to comments | Add a comment
Wayne (Wyre Forest), on 11/11/2007 at 11:26
IS IT TRUE YOU MUST HAVE A STAIRWAY TO A LOFT CONVERSION,NOT A LADDER FOR THE WORK TO BE RECONISED AS AN XTRA BEDROOM.
AND HOW MUCH WOULD IT ADD TO THE VALUE OF PROPERTY,3 BEDROOM TO A 4,CHEERS ANY HELP MUCH APPRECIATED,WAYNE.
Peter (Northampton), on 26/08/2007 at 18:25
DOES A CELLAR CONVERSION ADD VALUE TO THE PROPERTY ?
Chris (Tonbridge and Malling), on 24/08/2007 at 13:34
SABAS wrote:
This article is very important and like an eye opener to me. Can some one tell me if changing the heating system such from warm air to central heating system may also add value as well.
Not sure if changing from warm air heating to rads would actually add value to your house but if you are selling your house most people prefer gas central heating with radiators, therefore it is likely that your property will sell more quickly.
SABAS (St. Edmundsbury), on 23/08/2007 at 20:32
This article is very important and like an eye opener to me. Can some one tell me if changing the heating system such from warm air to central heating system may also add value as well.
SABAS (St. Edmundsbury), on 23/08/2007 at 20:30
The fact that I'm a novice in this area makes this article very very important to me. Please can someone tell me whether a chnge in the heating system such as warm air to central heating will actually add value as well.
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