Tips for Increasing the Value of Your Home

Image courtesy of barnyz
Image courtesy of barnyz

If you want to sell your home, then you will want to get the best possible sale price for it. There are many things that you might consider doing in order to make it worth more money, but you possibly have limited time and budget and so you need to consider which options are the right ones for you.

You need to make sure that everything that you choose to do will actually increase the value of the home. Some things may just make it more likely to sell rather than actually increasing the value of it. You also need to decide whether it is worth putting the money into the home to increase the value when you may need the money to do improvements on the new house that you buy.

It can be worth getting your home valued by an estate agent and asking them what you can do to increase the value. They will know more about what has sold in the local area, which people are looking for and how much they are prepared to pay.

It is worth thinking about the potential buyers for your home and what they will be looking for in a home. A first time buyer will not be looking for the same things as a family or an elderly couple. Consider who lives in your neighbourhood, what size your house is and the location of it, in order to consider what might need improving.

Some people think that decorating will help but this depends on how it looks. If it is really dirty and scruffy then it probably will make a small difference but otherwise the buyers are likely to want to put their own stamp on the place anyway and so decorating is probably a waste of time and will not add value unless there are repairs or damp treatments that need to be done first.

To add significant value you will need to add a room or refurbish a kitchen or bathroom. This will mean a significant investment and you will need to decide whether you think that it is worth it. It can be hard doing something like this if you are moving out though as you may feel that you want to enjoy it once it is done. However, it can be a mean to you getting a bigger home or one in a better location so you need to focus on this.  You will need to decide whether you are going to extend, convert a loft or basement or how else you might be adding a room and whether that will increase the value. Sometimes a person would prefer an attic to be for storage, for example, rather than as a room. It is also worth remembering that work you do could go over budget and may end up costing you more than the increase in value of the property.

It can be more worthwhile making changes before you decide to move so that you can enjoy them before you move. So while you are living in a home keep thinking about improvements you can make that will increase the value so that when you do sell you will not have to do extra work.

 

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Rachel Henderson is a professional freelance writer from the UK. She writes on many subjects but specialises in personal finance. As well as contributing to various blogs and websites she has her own website tracking her own money making process http://www.turnonepoundintoonemillion.com and sells her books through http://www.bowbridgepublishing.com.

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