Do renovations really pay off?

Before selling your home, you might be thinking about ways to add value or unlock potential so buyers can get a feel for what it would be like to live there themselves. But renovations are costly and may not pay off. So, what can you do to make a change without spending too much?

Whilst it’s always a good idea to spruce up a property before it goes on the market, the key is to know exactly what changes really add value before making any big decisions.

In this quick read, we look at ways to increase value without spending thousands of pounds.

Kerb appeal

First impressions count, and if the exterior of a property looks unkempt, buyers are going to be put off before they’ve even stepped through the front door. Whilst tidying up, fixing broken pipes and hiding bins immediately neatens a property up, what other changes could add value?

• Paint or replace your front door for an immediate makeover.
• Add some greenery with hanging baskets.
• Repaint the exterior of the property to make it look fresh and welcoming.
• Make sure the parking area is clearly marked out.

Redecorate

It might seem counterintuitive to spend money redecorating a home you don’t intend to live in, but freshening up a property’s paintwork can add serious value. Choose neutral colours to create a light, airy feeling, and pack away clutter to add space. Adding storage solutions such as shelves or cupboards can also make a property feel more spacious.

Extensions and/or loft conversions

If you want to add serious value and can spare the cash, consider extending your home or converting the loft or garage. Research has shown that adding an extra one or two bedrooms to a property can boost its value by around 20%, and even more if your property is in a city.

Speak to an agent if you are considering a large renovation project to see how much real value an extra room could add. Remember, extending or adding a dormer could require planning permission.

Kitchen focus

Replacing a kitchen is costly, but as one of the most used areas of a property, it could be worth the investment. Minor renovations to add the wow factor include painting or replacing cabinet doors, changing door handles, fixing superficial defects, descaling and thoroughly cleaning all appliances. Open shelving adds a sense of space, whilst new lighting could completely transform the whole appearance.

Garden makeover

You don’t need to completely redesign the garden to add value, but making sure it looks its best is a must. Hire a gardener for a one-off revamp if you don’t have the time (or patience) to do it yourself. Make sure buyers see the potential of the garden by adding furniture or a BBQ so they can imagine spending their summer in the sun.

Are you looking to sell your home? Contact our team at Cooke & Co Estate and Letting Agents so we can value your property and get things moving.