If you’re looking to sell this year, you might be wondering how to add extra value to your home before listing. It’s not always obvious, though, what are the best ways to do this, so it is easy to become fearful of sinking money into a project that might not increase the sale price.
Fortunately, research by an estate agent comparison website1 has revealed some of the best things it believes you can do to have a good chance of a price boost. Here are four ideas:
Home / garden office
The rise of hybrid working has made home offices increasingly desirable. The research suggests that converting a spare bedroom into a purpose-made office or creating office space in the garden can provide a boost of about £9,500. At around £12,000, this can be a costly improvement, but might add around 7.5% (roughly £21,500 for an average UK house) to your home’s market value.
Deep clean
A good old-fashioned clean is a very cheap way to add value! For less than £1,000, you can make your house sparkle, and with an estimated 2.8% added to the market value of your home, a deep clean can be a great investment. Of course, if you take on the cleaning yourself, you could save even more!
Repaint and redecorate
This isn’t guaranteed to make money since colour schemes and home décor are highly subjective. However, the research claims that a good redecoration, for a cost of about £3,000, can add 3.1% to the property’s value, which means a profit of around £6,000 for an average priced home. Focus on the rooms most in need of a freshen up to minimise costs and maximise gains.
EPC improvements
Improving a lower-rated home’s Energy Performance Certificate (EPC) to at least a C rating will add about 3% to the market value. This won’t come cheap, though, with an estimated cost just over £6,000, leaving you with a possible profit of around £2,500. So, whether it is worthwhile will depend on your specific improvements and how far you can increase the rating.
1GetAgent.co.uk, 2023
As a mortgage is secured against your home or property, it could be repossessed if you do not keep up mortgage repayments.
