DO's & DON'Ts of Adding Value to Your Property

Adding value to your property can be tricky. It is difficult to know whether what you are doing will bring enough value in return to cover the costs of the installation. I have devised some DO's and DON'Ts on how I think you should tackle adding value. 

DON'T outgrow your street:

The first thing I will say is to not outgrow your street. Although all these tips are likely to add value to your home, if you over do it, it will only haunt you. If your street value is on average £250,000 and your property is valued at £400,000 it surely won't have a prompt sale. Someone who want an expensive house will not want it on a cheaper road. 

DO add curb appeal to your property:

Neglecting the outside of your property is a huge mistake. Tidy your front garden, get your windows cleaned, have effective guttering and fresh paint on the walls. Failing to keep up with these easy steps can wipe up to 5% of your value according the experts. Curb appeal is the cheapest measure you can take to retain your home's value according to Halifax. 

DON'T lose a bedroom: 

If you are thinking of converting a bedroom into an office or an extra bathroom, here's a simple word of advice; DON'T! This will certainly devalue your property. Do not lose any of your bedrooms at any cost. This can make your family sized 3-bedroom house be known as a smaller 2-bedroom house. Does not bring benefits to your home when you are selling. 

DO consider a conservatory:

It is without a doubt that a conservatory is a highly desirable feature to a home, especially if you garden is the south. This will therefore be reflected in the price. A conservatory is a cheaper and easy way to add space, and value, to a property. 

DON'T sacrifice your garden:

Outside space is an admirable asset to a home. Overdeveloping your home may take up too much of your garden. Do not have an extension at the expense of your garden, it can definitely reduce the property's value. It is crucial to get the balance right. 

DO get a paved front garden:

This is a must if you live in the urban area but something to ignore if you have a country home. If you live in an area where parking space is an important, forget about the flower beds and convert your front garden to a paved entrance. Planning permission is likely to be needed and it could cost you £10-20k but the value could be up by £50k in an expensive urban location. 

DON'T have extravagant interior:

You may have a love for leopard print and incorporate it into every aspect of your life, but not every potential viewer is going to be just like you! When you are looking to add a lick of paint to your walls, be sure to keep the colours neutral. Extravagant decor will make the value of your house decline. 

DO consider a loft conversion:

A loft conversion is one of the easiest ways to add a bedroom to a property. If your property has the potential of having loft conversion - go for it. It has been said that if you Spend £20,000 on a loft conversion and you can add £40,000 value to your house. A survey carried out by mortgage lender GE Money concludes that on average, a loft conversion adds 12.5% to the selling price.  

DON'T install a basement conversion:

A basement conversion is one of the most expensive forms on conversions you can do. It costs around £300 per sq. ft. So unless your property is worth more than that, you won't be seeing any turnaround of that investment. However, if you have a basement, it will become more desirable and will sell much quicker. 

DO groom your pets:

You may believe that having a pet may devalue your house but that may not be the case. 39% of people in the UK have either a cat or dog! This will not detract the potential buyers UNLESS, they are poorly looked after. Pets can lower your asking price of 5% but that is only if they are intimidating, smelly or the house is over run by them. 



DON'T have swimming pools fitted:

A swimming pool may seem like a great technique to add value and excitement to a property, but it really is not worth it. To many professionals, a swimming pool is a high-maintenance and expensive problem which may put them off purchasing an otherwise perfect property. A well designed swimming pool can cost around £850k and it carries yearly maintenance costs of roughly £1000. It is a huge hole to your pocket for a feature that will put off many. 

DO ditch your garage:

A study from RAC foundation stated that 53% of people in the UK have a garage but only 24% of those park their car in them. Houses were built in mind of much smaller cars than the modern ones of today. Garages have become more of a 'storage place'. A good idea is to use the garage to create more living space. You could extend your living room or a kitchen through to you garage, or even convert the room into a downstairs toilet or bedroom. Another good idea could be a part conversion. You may want to keep half of your garage for storage but the other half could come as good use. 



We hope this answers some questions you had about what you should and shouldn't do to add value to your property. If you have any further questions or queries, please do not hesitate to contact us here at Glocal Residential either by calling us on 0121 655 5188 or you can email us at info@glocal-residential.co.uk.