Houses can sit idle on the market for a long time, especially in the past six or so years when the market has slowed. Getting higher offers starts with getting people through the door, and so here are some of the ways to improve a home’s market price.
A Kitchen Remodel
For many people, the kitchen is the main factor in a buyer’s decision-making process. It’s the most human place to be, where we cook, eat and socialize.
Minor updates may be all you need, like replacing outdated cabinet hardware (or painting them), installing a modern backsplash, and buying an affordable “kitchen island” (cabinet on wheels). It’s about showing how their family will come together.
A Lick of Paint
A fresh coat of paint is the best bang for your buck. While it may not tangibly improve a home’s value, it can increase the appeal, and especially for cheaper homes, encourage buyers to feel like it’s not run down or damp. Tearing out old carpets in favour of new laminate can be very affordable, but transform a home and even make it feel bigger.
A Functional Home Office
More people are working from home, and so a dedicated office space can be a non-negotiable for a sizeable chunk of buyers. Converting a small spare room is one option, but an annex could be a more convincing one.
Improve Accessibility
For larger homes, improving how residents move between floors can increase functionality. With people living longer, installing a passenger lift can make a home more future-proof for ageing buyers. It’s not just about functionality, but transforms the home into something more sophisticated and modern too.
Improve Energy Efficiency
With energy bills skyrocketing along with concerns for the environment, more buyers are now hyperaware of the importance that energy efficiency has. Double-glazed windows are a definite upgrade, but upgrading attic insulation or new underfloor insulation can work wonders.
Contemporary Fixtures in Bathrooms
Bathrooms are high-traffic areas – they’re spaces that often show signs of wear and tear. Replacing old faucets, updating the lighting, and simply regrouting tiles can convince the bathroom no longer “needs doing”.
Boost Curb Appeal
First impressions happen at the driveway of course, so it’s worth repainting the front door and power-washing the siding. Little things like having a tidy garden can make buyers feel like this will be a respected home from the outside-in.
Create an Open-Plan Living Area
Older Victorian homes often have many pokey, small, rooms that can feel dark. Taking out a non-load-bearing wall here and there can create a more family-oriented space that is brighter and more inviting.
Smart Home Technology
With a very ageing property stock in Britain and Ireland, cheap installations of smart thermostats, security cameras, smart locks, and automated lighting can really impress as it’s something many homes are behind on. It can be a point of differentiation despite being cheap.
A Loft or Garage Conversion
Sometimes, the way to really push the needle is to make the floorplan bigger, and so increasing the square footage is most often done by converting the loft or garage. Make sure of no asbestos, as this removal pushes up the price, and also make sure your property’s value isn’t already capped by the street it’s on.
It’s worth remembering that some homes simply cannot go above certain thresholds due to limitations like the road, their reputation, no parking, and so on. Here, you have to begin with the low-cost improvements and then consider the other investments more carefully.