Five Tips to increase the value of a property
Looking to add value to your property? This is something more people are looking to do prior to selling their property. Whether this be a home renovation project, or simply remodelling the internal layout. Each can have a positive effect on a property in terms of adding value. So here we cover five common tips to guarantee that boost of value to a property.
- Structural Issues
One of the most obvious means of adding value is sorting out any structural issues that a property may have. If a property has any of these, then it can really lower its value until addressed. This covers both external and internal and an example could be installing a new bathroom. Common structural defects include the likes of a leaking roof, cracks in walls and rotting in parts of the property.
- Updating doors and windows
Another tip is to update doors and windows around the property. Many can look damaged and outdated and instantly puts a negative look over the property. You can add a composite door by the likes of Truedor, which have been the innovative product on the market and offer much greater sustainability than traditional options.
- New Heating
Another great way of adding value to a property is updating the heating system. Many old properties do not have central heating or use a very old system. This is why adding an updated version can have a great impact. Another great way of helping to improve with the efficiency of heating in a property is to make sure all drafts are sealed, replacing old windows and adding insultation.
Updating seems to be the common theme for adding value, and changing the wiring and plumbing is another great way for adding value to a property. However, this could be costly in some cases due to having to lift floors and chasing out plaster walls. Updating the electrics is something many properties will need to do and you can usually tell if this needs doing by seeing if it is an old fuse box. Updating plumbing in a property is also something that will need to be looked at. Old pipework can lead to burst pipes, which is a common issue if not updated when needed.
- Adding an extra bedroom
One of the most effective and guarantees for adding value is an extra bedroom. The number of bedrooms always has a big impact on a value of a property, so this will always add to the sale price. The extra space can be created from dividing existing space and adding or removing walls. Another option is to convert a loft or cellar.