Do Less To Make More: Clever Choices When Updating A Property

Spring is upon us and with house prices increasing, now’s a great time to put your home on the market. You want to make sure your home is looking its best to maximise your profits and give the property the best chance of selling quickly, which can often be easier said than done. But you also need to strike the right balance between enhancing the value and capitalising on its best features, without overdoing the budget and eating into your potential profits. 

Here’s how to make clever choices when updating a property to maximise the impact while minimising your efforts. 

 

Understand what your property is worth 

It’s a good idea to understand how much your property is worth currently so you can make an informed decision. Not all home upgrades give the same return on investment, so it pays to be informed so you don’t pay over the odds and price yourself out of your local area. Whether you’re looking to work with a local estate agent or go it alone with an online agency, do your research before you make any changes to your property. 

Many factors go into a property’s value, from the amount of time you’ve lived in the property and how well-maintained you’ve kept it, to whether the property has unique features such as a south-facing garden or off-road parking, and, of course, the local market. You also need to take into account what you paid for the property initially, so you can be sure you’re going to make a profit. Compare your original price with other properties on the market which are similar in size, so you can see what properties are going for now. Alternatively, speak to an estate agent who will be able to advise you. 

Not everything is within your control as the owner, but there are changes you can make that will elevate the property and make it a more appealing proposition to a buyer. Big projects like loft conversions and adding garages or conservatories are often the go-to projects for adding value, but this isn’t always practical for a variety of reasons, not least the cost and the time it takes to get these projects approved and completed.  

 

Add extra storage

The race for space means that more and more property buyers are seeking properties that offer them the chance to grow. Storage space is one of the most desirable aspects of a home, and it can significantly increase the value. It’s something that we all need, from storing personal belongings to clothes, documents or kids toys. So, adding in more cupboards, drawers and hidden storage areas can pay dividends with very little upfront cost to you as a seller. Integrating more storage solutions into your property could result in an increase in value of £10,000 plus. 

There are several areas of a standard property you can add clever storage, without needing to completely renovate the room. For example, concealed nooks in corridors or underneath stairs, space in the eaves, dead space on either side of a chimney breast, or above sinks in kitchens and bathrooms can all be converted into cabinets and hidden storage areas which are invaluable to a homeowner.

Choose the right flooring for each room

Flooring plays a huge part in how a property looks and feels, and to a prospective buyer, it’s something that can make or break a home. Consider how off-putting it is to find a dingy carpet in the bathroom or broken vinyl tiles in a kitchen — it brings the look of your home down and can make it seem more drab and tired than it probably is. But replacing the flooring is a cost-effective way to make your property look modern, stylish and more comfortable. 

There is a lot to consider when it comes to flooring, from the colour, pattern and texture to the material you go for. You might be looking for flooring that’s easy to maintain or that will improve the energy efficiency of your property to reduce heating costs. Solid hardwood floors are one of the most popular options with buyers, for their versatility, timelessness and low maintenance, but property owners can also replicate the look and feel of real wood with luxury vinyl flooring, opting for plush carpets in areas of the home where you want cosiness, such as bedrooms. Each room in a home is different, so make sure the flooring you choose reflects the look you’re going for as well as your lifestyle needs. 

Install modern lighting

If the lighting in a property is dated and doesn’t perform well, it brings down the ambiance in the home. A well-lit home not only makes the space look brighter and more welcoming, but it can also enhance its functionality and aesthetics. By replacing outdated lighting fixtures with newer, more energy-efficient models, property owners can reduce their energy bills and increase the property’s appeal to potential buyers. 

Additionally, modern lighting options such as dimmer switches, smart lighting and accent lighting can add a touch of luxury and sophistication to a home, without you needing to do much by way of time-consuming upgrades. You could even just update what you already have by replacing outdated bulbs with LED bulbs, replacing blades on faded fan lights, or adding an attractive chandelier to add drama and interest to a living or dining room. 

Invest in smart tech

Smart technology is an in-demand feature of modern homes, and by being proactive and fitting these devices into your property, you can make it a more appealing option to prospective buyers. It can not only help your property sell quicker but it can also increase the value, as it’s one less job for the buyer to need to do when they move in. 

Smart thermostats, for example, can improve the energy efficiency rating of your property and cut the carbon footprint of the home at the same time. It means lower energy bills for buyers when they move in, especially if you combine it with other energy-saving technology like smart storage heaters or solar panels. Likewise, adding smart home security to the property like smart door locks makes the property more secure and safer for a buyer, while smart lighting transforms the ambiance of a home and is a convenient addition.

Upgrade the heating and ventilation

Potential buyers will want to know that the heating works well, so they can feel comfortable during the colder months. So, if you haven’t already, have your central heating system serviced and repaired if necessary. If you have an older boiler, it may be worth updating it to a more energy efficient model. Eco issues are one of the biggest priorities for a homeowner, so the more you can do to make a property more sustainable and eco-friendly, the better. 

Similarly, an air conditioning system makes a home more comfortable in the summer and whether you install it in a home office, a conservatory or a bedroom, it creates a more relaxing and pleasant living environment. A home with an efficient air conditioning system can be a significant selling point for potential buyers who prioritise comfort and convenience. Moreover, air conditioning can help improve indoor air quality, reducing the risk of respiratory issues caused by allergens and pollutants. These are perks that are quick and cost-effective to install but which have a big impact on the salability of the property. 

Replace old windows

Replacing old windows can have several benefits for adding value to a property. New windows can improve the energy efficiency of the property by reducing heat loss and air leakage, resulting in lower utility bills for homeowners, which can be especially attractive to potential buyers who are looking for homes with modern and sustainable features. 

Double-glazed windows can also enhance the aesthetic appeal of a property, giving it a fresh and updated look that boosts kerb appeal, and improve the safety and security of a property, providing added peace of mind for homeowners and potential buyers alike. The average price for installing uPVC A++ rated windows, one of the most economical options, in a semi-detached property is around £7,500 though this varies depending on how many windows you’re replacing. But it remains one of the highest-yielding changes when it comes to return on investment, increasing the home’s value by as much as 10%. 

Get planning permission

Getting planning permission may mean a little bit of outlay for you initially, but the rewards will make it well worth your time. An upfront expense of around £400 for a basic planning application could yield you as much as an extra 10% of the property value when your property sells, so it’s ideal if you know you’ll be selling soon. 

You might want to sell up quickly and don’t have time to take on a big conversion project yourself, or you might be upgrading an investment property and are looking to maximise your profits. In either case, buyers are willing to pay a premium to avoid the paperwork that comes with applying for planning permission, and if they know that they’re able to go ahead with a loft conversion or a rear extension without having to deal with any red tape, it can make your home all the more appealing. 

Landscape the garden

A messy, overgrown garden is more than just an eyesore for you as the owner — it’s off-putting to a potential buyer. But the good news is that a few simple tweaks can transform an outdoor space into something inviting and stylish. And in many cases, these tweaks won’t cost you anything more than a few hours of your time. Whatever the size or shape of your garden, you can make sure that flower beds are weeded, hedges and shrubs are trimmed back and lawns are mowed so that the garden at least looks tidy. 

If you want to go one step further, you can invest a bit more into landscaping the space to make it look curated and put together. For example, planters on a patio area or some seating can be a great look that makes your garden look well-maintained. Outdoor storage is another way to level up your garden to make it more appealing when it’s on the market, such as a shed for storing bikes, power tools or gardening equipment.

Fix niggling problems

Lastly, if you’re on a time crunch or have a very limited budget to work with, simply fixing up those small tasks around the house that have been on your to-do list for months can make a big difference. For example, squeaking doors which need the hinges lubricated or door latches that stick can be quick to fix but make the home feel better maintained. 

Look at each room and find those spots that are dragging down the look of the space, from dripping taps which need tightening up, lifting floors or peeling wallpaper that needs to be stuck back, or carpet stains that need cleaning. You might also want to update small details such as door handles and light switches which can modernise without you needing to spend a fortune. You’ll be surprised how big of a difference it can make the whole property when these small areas are fixed up. 

Transforming a property doesn’t need to mean a full renovation. In fact, small changes soon add up and could make a big difference to the look of a home. Whether you’re investing in a home to flip for a profit or you already own and want to maximise the value of your home so it’s ready to sell, it pays to be discerning with where you spend your time and money to get the most bang for your buck. Ultimately, thinking about how a prospective buyer will look at your property will help you make the right changes and ensure that the transformations you make bring in a bigger profit when it’s time to sell.