If you are looking to increase the value of your home without adding an expensive extension, self-storage company Space Station has some ideas on how you can add up to 20 per cent to the price.
Maximising your property’s value before you put it on the market means you may have a better sum to put towards your next home.
Convert a room into a bedroom (20 per cent increase in value, £51,000 of average house price)
The number of bedrooms in a property has a considerable effect on its price, more than the addition of an office or gym. If you have a room that could be converted to a bedroom, this is a great way to add up to one-fifth to the value of your home.
If you really need office space, consider making a room dual purpose, with a sofa bed that can be put out to show buyers how the room would look as a bedroom.
Convert loft space (20 per cent increase in value, £51,000 of average house price)
Although this option will be more costly, reclaiming the roof space as living space may also add one-fifth to the price you can ask for your home. Make sure that you comply with building regulations so that you can legitimately offer the space as an extra bedroom. If your loft currently acts as storage space, declutter as far as possible and install storage around the edges and under the sloping roof area at the edges of the room.
Create an open-plan living area (15 per cent increase in value, £38,000 of average house price)
Open plan kitchen and living areas are currently popular with buyers. Removing a wall can make your home appear considerably larger as well as creating a warm, family space which buyers will appreciate. Take professional advice before removing any walls to ensure that you don’t inadvertently take down anything that is load-bearing.
Install another toilet or bathroom (5 per cent increase in value, £13,000 of average house price)
An extra toilet downstairs or an en-suite bathroom can add value to your home, particularly if it is an older property with only one existing bathroom. Buyers look for more than one bathroom, particularly in a home with four or more bedrooms.
Create storage solutions using spare space (up to 5 per cent increase in value, £13,000 of average house price)
People always need more storage, but as well as being incredibly useful, careful use of odd spaces can look really attractive. Bookshelves in an alcove or attractive baskets under the stairs can make a feature of storage and add individuality to a home. If you are lucky enough to have a basement or a garage that you can convert to useful storage, this will add more value. Even if you are only able to add a modest amount of storage, it will make your property more desirable to buyers.
Space Station’s marketing manager Vlatka Lake says: “Adding value to your property is something that can be easily done by any homeowner, and whatever the size of their budget.
“We hope that these tips can inspire proper to make the most of their spare space, helping them to maximise their property value when they come to sell.”
If you are thinking of buying or selling a property and you would like to speak to one of our expert conveyancers, ring us on 0333 305 5189 or email us at info@lpropertylawyers.co.uk
