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  • Writer's pictureThe Cedar Crest Team

Boosting Your Home's Value

Creating an impression of spaciousness and privacy and delivering a striking first impression


 

boosting home value

 

Enhancing your home's appeal through general tidying and refurbishments can significantly increase its attractiveness to potential buyers. Given sufficient time and investment, major projects could yield substantial returns. Nevertheless, smaller changes can also have a remarkable impact.


Before considering listing your property for sale, evaluating and implementing any home improvements that could enhance your chances of meeting your desired price is beneficial. It’s always advisable to consult with an estate agent to understand which features are most impactful when selling in your locality. Home improvements that create an impression of spaciousness, provide privacy and deliver a striking first impression will boost your home’s marketability.


 

Boosting your home’s value can be achieved through a variety of methods. Here are some to consider:


INSTALL A MODERN KITCHEN


A kitchen renovation is a common home improvement project, and for good reason. The kitchen is often the hub of a home, serving as a multifunctional space for dining, homework and socialising. As such, it’s no surprise that it’s a focal point for potential homebuyers. An inviting, well-lit and sociable kitchen can leave a positive first impression, potentially aiding in a quicker sale.


The increase in property value from a kitchen renovation depends on the cost of the improvements and the condition of the existing kitchen. Presenting buyers with a modern, appealing kitchen eliminates the need for them to consider renovation costs, potentially aiding in securing a sale and possibly enhancing your property’s value. That said, it’s important not to overspend on kitchen renovations. A complete overhaul can add value to your home if your kitchen is notably outdated or worn.


However, if your kitchen is already in good condition with neutral tones, a significant investment in renovations might not yield an equivalent increase in property value. Often, impactful kitchen renovations can be achieved with a modest budget. Minor changes like repainting, replacing cabinetry doors or updating countertops can significantly enhance the space. Other updates, such as new tiles and improved lighting, can also refresh your kitchen’s aesthetics.


 

CONSTRUCT AN EXTENSION


If your current home is becoming too small for your growing family, if appropriate, building an extension could be a more cost-effective solution than moving to a larger property. The bigger the extension, the more space it creates and the higher the value it can add to a future sale price.


The type and size of the extension will influence the added value, but the primary focus should be on what suits your needs best. For instance, if you need more living space, a double-height extension might be ideal as it provides additional living space downstairs and an extra bedroom upstairs. You might need planning permission for an extension, and having the relevant plans and permissions can increase your property’s value, even if you don’t proceed with the construction.


 

CONVERT A GARAGE, LOFT OR CELLAR


If an extension isn’t feasible due to budget, space, or planning restrictions, consider other options like building a conservatory or converting your loft, garage or cellar. When considering a loft conversion, remember that you’ll need to accommodate a full staircase, which can consume considerable space. Therefore, thorough planning is essential to ensure it adds the necessary space without limiting the existing rooms.


If you’re contemplating a garage, loft or cellar conversion, consider which option is the most practical for your specific needs and property type and which will add the most value. While all options should add approximately the same amount of space to your house, a garage conversion is usually the least expensive, with loft conversions costing at least twice as much. Cellar conversions are typically more costly.


 

IMPROVE ENERGY EFFICIENCY


In its 2021 Net Zero Strategy, the UK government has reiterated its goal to upgrade all homes to an Energy Performance Certificate (EPC) rating of C by 2035. In an era where environmental sustainability is increasingly prioritised, homes boasting energy efficiency garner higher property market values. Eco-friendly properties can command a premium due to the extensive benefits their energy-saving modifications provide.


They lead to lower utility bills and help avoid costs associated with regular maintenance. This added value further mirrors the superior quality of life these green enhancements bring to homeowners, which includes health advantages and amplified comfort within the residence. Therefore, residential energy efficiency should be viewed as a worthwhile investment. It presents immediate savings on a month-to-month basis while also promising potential lucrative returns when the property is put up for sale.


Given that all homes are now rated for energy efficiency and homeowners must acquire an Energy Performance Certificate (EPC) when selling, any improvements to your home’s energy efficiency will make it more attractive to potential buyers. Consider installing a new boiler or insulating the loft or walls. Additionally, fitting double-glazed windows and doors can enhance your home’s appearance while making it more energy-efficient.



 

CONVERTING IT INTO MULTIPLE SEPARATE PROPERTIES


If you own a large building, converting it into multiple separate properties could significantly heighten its value and potentially create a steady stream of rental income. However, this route can be intricate and might require you to vacate the premises during renovation temporarily.


To successfully divide your property, you’ll require the services of a solicitor to advise on freehold ownership issues, to draft leases for the new residences and to identify any legal impediments, such as deed restrictions, that could derail your plans. Before initiating any construction work, consult with the planning department of your local council to ascertain if you require planning permission. Be aware of the fact that local planning policies may impose limitations on aspects such as parking, the size of each flat or the number of rooms per unit. Sometimes, there might be a blanket policy against conversions into flats.


 

CREATING AN EXCEPTIONAL GARDEN SPACE


This can be a game-changer when selling your property. Not only does an exceptional garden space captivate discerning buyers’ attention, but it could also accelerate the sales process and elevate your property’s value. A well-maintained garden contributes significantly to the property’s overall impression and valuation. Integrating a multi-functional garden room into your property can remarkably enhance its value.


With the rise of remote work, a dedicated office space set apart from the main house is increasingly appealing to potential buyers. Garden rooms can also serve as tranquil spaces for relaxation or vigorous exercise zones. Boosting garden privacy is another critical aspect that buyers value. Even if your property is within sight of other homes, implementing strategic measures like pergolas for screening or clever planting can effectively shield your outdoor space. Consider using tall planters or high-growing plants to create a secluded area, grow wisteria through a pergola to privatise your patio or use trellises along your fence for climbing plants.


Designing an engaging space for entertainment can impress buyers who enjoy hosting gatherings. This could involve incorporating more hard surfaces into your garden or crafting distinct zones for dining, relaxation or play. Take into account the sun’s movement across your garden to establish suitable entertaining areas and introduce outdoor lighting to enliven your garden during evening hours. If feasible, consider installing an outdoor kitchen to elevate al fresco dining. Although less common in the UK, having one can distinguish your property.


However, bear in mind the cost implications and whether it aligns with potential buyers’ preferences. Ample garden storage and robust security are essential considerations for buyers, especially those with pets or children. Evaluate the security of fences and garden gates and ensure secure storage for expensive items like gardening equipment and bikes. Enhancements like improved locks, blacked-out windows, CCTV or security lighting can deter potential thieves and reassure potential buyers.


Lastly, if the budget doesn’t permit, never underestimate the power of a thorough clean-up and touch-up. Although these may not directly add value to your property, they can significantly brighten up the place and create a positive impression on prospective buyers.


 

>> TIME TO FIND THE RIGHT MORTGAGE DEAL? <<


Whether you’re a first-time buyer or looking for a more competitive deal, we can help you find the right mortgage.



Cedar Crest Ltd – telephone UK T: +44 (0) 203 883 1017,

HK T: +852 6645 4462 – email info@cedar-crest.co.uk 


Your home may be repossessed if you do not keep up with repayments.


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