Increasing the value of your property, probably your biggest investment, it is something we always try to achieve, and regardless if you have bought the house as an investment of your home; adding value to the property only means improving the look and feeling of the house; however, if you are planning to put it on the market there are many things you can do to make it more attractive to potential buyers; de-cluttering is the first thing you should do; people normally hate to see cluttering in a house and although basic, many of us still forget to clean it properly while it is in the market.
If you are applying for a mortgage then a formal valuation will need to be carried out; however, there are many simple checks you can do before buying a new property or if you are planning t sell; it is fundamental to know what others will be checking in your home; this will allow you to make adjustments regardless of their needs in order to accelerate the sale and get a better deal for your property.
You will also save a lot of money in legal fees, surveyor costs, taxes and time if you know the property you are buying is worth less that what it is selling for; you would be surprised the amount of people that normally pull out in the middle of the process looking all the time and investment up to that point.
Buying a house is not simple, especially when you are not sure what to look for; the first thought should be; how can I improve it? As a general rule, people love big spaces, therefore if you can knock down a wall and join the kitchen and dinning room together, this is normally a good idea; this is why you need to know the if a wall is load bearing or not; the state of the windows is a good thing to check, are they double glazing? If not, then you might have to change it; what about the stairs? Are they too narrow? Will you be able to move all your things into the house?
If you have recently bought your home, then it is unlikely you will have the funds needed to make any structural changes such as adding a new bedroom, converting the loft/attic or knocking down a wall; however, there are simple things you can do to increase home value and the best part? You will not have to spend a fortune in order to achieve this: if you have a garden at all, then try to tidy it up, many young families normally look for a garden and a well-maintained one will create a good impression to any future buyers.
Redecorating is a simple and affordable way to add value as well; if you decide to paint your home to put it in the market, then this should be a neutral colour, regardless of your taste or how pretty is your home, a new house owner will normally paint the home all over again; however, a neutral colour will give them a blank canvas for them to imagine what to do with the space.
If you have the funds and time to make structural changes to your property before putting it in the market, then you must do your homework. It is important to know the value of your property and how much similar properties have been sold in your local area; now, how much money do you want to invest? Will it actually increase value dramatically? Try not to overspend, all structural changes will add value, but some of them won’t make a big profit.
If you live in a big city such as London or New York or it is the first time you buy a property; then it is likely that your new property is below 100 square metres; if this is the case you will have limited space for all the things you want to do, so the walk-in wardrobe might not happen this time; however, there are plenty things you can do to make your small apartment look bigger and better.
Nowadays it is possible to buy furniture that have been designed for small properties and although a big sofa is a dream for many of us; a smaller one will fit your home better; same applies for your work computer, many of us tend to buy laptops, therefore the most likely thing is that you will need a smaller desk.
If your apartment has been built over two floors, then there is the possibility of adding a mezzanine floor on the space next to the stairs; this can be used as your library or study area.
There are many things you can do to overcome the fact that your apartment is small. It is shocking to realise that after paying so much money for your place, this is probably half of what you were expecting; however, this is something that many first time buyers normally go through, the important thing is to work with the space you have and make it better, make it work in your favour; a few things you can do are:
Design and Light: the rule is simple: the darker your apartment, the smaller it will look; if you are working in a small space then bright will work better, the effect of the light creates a visual effect of spacious; therefore, try to go for white or neutral colours, even the flooring; in the kitchen try to go for off-white tiles and you will notice the change straight away; the light normally reflects and transmits the brightness throughout the whole house.
Are you planning to put your house in the market? Since many lender providers have become tougher when approving new mortgages, it is important to improve your home as much as possible; small changes to your property will have a big impact in the eyes of others; a few things you can do in order to achieve this are:
- De-clutter your home.
- Re-decorate: paint doors and windows as well as the walls with neutral colours.
- Any cracks in the walls: they must be repaired; this will for sure put off many potential buyers as the first thing that comes to mind is: structural problems and big maintenance work.
- Maintain hour house clean.
- Bring life to your home with houseplants: they add warm and life.
- Work on your garden and make it attractive for families.
These are just a few tips that you need to follow in order to improve the value of your property and make it more attractive to buyers.