When selling a property, it’s important to get as much value from it as possible. If you’re planning to sell or just looking to increase your property’s value for the future, there are various methods to consider to suit your budget and timeframe. With the UK property market set to remain competitive for the remainder of 2024 and into 2025, it’s a great time to consider ways to maximise your property’s value. In turn, you will improve your chances of achieving a higher price when you decide to sell, whether now or in the future.
One of the first things that may come to your mind when we discuss adding value to a property, is a full renovation. However, this isn’t always possible, especially if you would like to sell your house fast. It’s important to remember that a how a property looks and the demand it gets when on the market will often influence the price it ends up selling for. We’ve created a guide of alternative options to consider whether you’re looking for quick and simple solution or a more long-term investment.
Quick fixes
Increasing the functionality of your outdoor space
If you’re on a budget but would like to explore quick opportunities to improve the value of your property, your outdoor space is a great place to start. By making small changes to your garden, you can increase its functionality, in turn improving your property’s perceived value. Here are some options to consider:
- Improving the landscaping of the garden
- Investing in some outdoor furniture
- Weatherproofing your seating areas
By adding these features to your garden, you’re making it a more appealing and functional space for potential buyers. In turn, you can generate more demand when it hits the market, which will increase your chances of achieving the best value.
Improving interior aesthetics
As we have mentioned, the appeal of your property has a significant influence over the selling price you can achieve, making your interiors an important feature. We understand that some interior updates can be costly. However, we have gathered some simple yet effective updates for you to consider:
- Paint: If you haven’t added a fresh coat of paint to your property’s interior in a while, now would be a great time to take on this task. Consider using neutral paints to create a timeless look which will appeal to a larger selection of buyers
- Flooring: If you have been living in your property for an extended period, some wear and tear is expected. If your flooring has experienced some of this wear and tear, consider upgrading to more modern options like hardwood or laminate
- Lighting: Buyers will often look for homes that have lots of natural light, and this is something that can be a non-negotiable for them. Although it will be on the pricier side and take some more time to complete, adding a sky light could be a worthwhile investment
Long-term strategies
Maximising a property’s space
If you have the time and resources available to explore longer-term strategies, then maximising the space of your property is a beneficial route to increasing its value. There are two methods that you should consider when maximising your space: extensions and conversions. Let’s look at each option to help you understand which one might suit you.
Extensions:
The square footage of a property is one of the main factors that’s considered when it’s being valued. It can be challenging to achieve a substantial increase in your property’s value unless you can increase its actual size. Therefore, if you have the space available, expanding your property will be a valuable opportunity to explore. Through the extension of your home, you are not only increasing its size, but you are also adding extra living space. This will increase the property’s functionality, potentially further benefiting its value.
However, if you decide to opt for an extension, it’s important to make sure it will align with what buyers in your area are looking for. This will help maximise your property’s appeal and make it more attractive to potential buyers.
For example, your area may have a high-demand house with multiple bedrooms to suit a family buyer. If this is the case, you should ensure your extension includes an additional bedroom to meet this demand.
Conversions:
Another option for maximising space in your property is through conversions. If your property has a room that doesn’t serve a valuable purpose, like an attic or basement, you could convert it for practical uses, like an office or recreational area. Conversions are a great way of maximising space if you don’t have room for a full extension but still want to enjoy the benefits of added functionality to your property value.
Continuing with the example of an area that has a high demand for multiple-bedroom properties, conversions can still accommodate this demand. If your property has a large bedroom, you could split it into two separate bedrooms, making a one-bedroom property into a two-bedroom property. However, it’s essential to carefully plan this type of conversion to guarantee that the dimensions of the new bedrooms will maintain their added value.
Meeting energy efficiency demands
We have witnessed a considerable shift in buyer preferences over the last number of years to a more sustainable way of living. This has been further accelerated recently by the cost-of-living crisis and rising energy costs. As a result, we have witnessed properties that boast energy-efficient and sustainable designs, generating more demand and gaining higher prices once sold, compared to traditionally designed properties. These are examples of some energy-efficient features to take a look at:
- Double-glazed windows
- Insulation improvements
- Solar panels
If you upgrade your property with one or more of these features, you can help yourself stand out in the competitive UK property market while also ensuring you’re getting the maximum value.
Conclusion
Whether you’re preparing to sell or want to invest in your home’s long-term value, there are various methods to help your property stand out and achieve the best possible value once on the market. As we have mentioned, we expect the competitiveness of the UK property market to stay strong, so making some strategic enhancements before selling will be important to achieve the best price for your property.
If you’re looking for a quick sale of your house but don’t have the time or resources to make enhancements before going on the market, standing out among other properties in the area can be challenging, potentially prolonging the selling process. If this is the case, the team at We Buy Any House can help you sell your house quickly, no matter what condition it’s in.
