WHY SHOULD YOU RENOVATE YOUR PROPERTY TO INCREASE OVERALL SALES VALUE?

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RENOVATE YOUR PROPERTY

WHY SHOULD YOU RENOVATE YOUR PROPERTY TO INCREASE OVERALL SALES VALUE?

You have been living in a nice house for so many years and planning to shift to a better property shortly. You will contact a real estate agent to list your property in the market. You have got your hopes high of getting a fair price, but it turns out that you are getting an offer of fewer amounts as compared to what you were expecting. How to solve this problem and increase the value of your property?

The best way to increase your property value is to make alterations in your home. By looking at a few of the previous year’s trends, it is prevalent for people to make renovations in their homes before selling it in the market. But not all the renovations tend to increase the value, and you might want to know what exactly you can look into to fulfil the purpose:

Upgrading your kitchen

As the kitchen is the heart of the house, it is essential to make the kitchen updated from appliances to tiles and marble. Invest and upgrade your kitchen according to the latest trend and preferences. You can create an open planned kitchen with a little seating area to have morning breakfast or evening snacks. You should also keep in mind to create a pantry and add enough spacious cupboards for a family to store items easily.

Increase your outdoor area

In any property, an outdoor space is considered to be an essential aspect as the family members like to spend their evenings or weekends outside in this area to chill or for dinner parties with family or friends. A neat, tidy and well-organised outdoor area adds up to your property value. Build a sitting space with outdoor furniture that is suited for every season. Create a small space as a garden area with plants and grass maintained adequately. A trimmed lawn with clean borders attracts attention. If you think a new family will like grilling meat outside, then get installed a grilling station for this purpose. Repaint the house from outside and renovate your parking space. It will add kerb appeal to the home.

Consider adding living space in the house

Consider adding living space in the house
Consider adding living space in the house

Who will not like to have an added living space in the house? An extended bedroom or a garage converted into a living area for the family is some of the options that you can consider. You can convert loft or basements into something useful that might attract positive attention to your house.

However, you need to consider for planning permission or to get the space checked by the local planning authority. Your garage or basement can be converted to a hangout space such as a mini home theatre room, playroom, or for an extra office space. You can also convert a garage for an additional sitting space in case you don’t have an outdoor area in your house. Similarly, your loft can be renovated to an extra bedroom space. It will potentially add a 15% value.

Add an extra bathroom

One of the expensive additions can be adding a bathroom. However, with careful planning, you can build a bathroom in a budget. Contact an architect to plan out how to maintain the existing space to create a bathroom to make it useful and appealing. You can also renovate your old bathroom with new and improved sanitary ware. You can opt for a cheaper frame model. An attractive bathroom space will add around 5% value in the sale cost.

Need extra funds for home improvement?

Sometimes one might need more funds to renovate a house to increase value in the market. But before asking your family or friends for the required funds, you can consider contacting lenders for such loans. Banks are also an option, but it might take some time to get approval. If you have a bad credit score, your application can be rejected.

The best option is to contact direct lenders online for effective loans with no guarantor and bad credit history. You can apply for unsecured and secured personal loans, payday loans, doorstep loans, or easy loans for the unemployed (if you fall under this category). Short term loans tend to have a high-interest rate with high APRs. Please keep in mind if you can afford that much of the repay amount. If not, go for simple personal loans and choose a repayment period according to your feasibility. Selling your current property to buy a better house is not an easy task. People who might come to look at your listed property will consider both pros and cons. Try to change the cons to pros to increase the house value. Keep in mind what a new family would like in their dream house. Adding a living space in the home also helps. A newly improved outdoor space adds to the attractiveness of the house and might be the first good impression for everyone. You can also consider looking at some similar houses with the same listing price in the market. It will help you in noting down the essential points about what other house’s USP is.

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