In previous years, simply buying a house in London was enough to guarantee value rises of 10-20% per year. These days, if you want to significantly increase the value of your property, you will need to make your house as attractive to prospective buyers as possible.
Create New Rooms
In London, space is at a premium so adding an extra room is a great way of adding value. There are a number of options available to you including loft conversions, extensions and conservatories, and creating an extra room can add up to 12.5% to the value of your home.
Upgrade Your Kitchen
The kitchen is the most valuable room in the house and can make or break a potential sale. Giving your kitchen some love and attention and installing new cabinets or work surfaces can add serious value to your home.
Pay Attention to Features
Many homebuyers are willing to pay more for a property with original or unique features, so make the most of them. Luxury plaster work lends an elegant air to a property, so consider hiring ceiling rose plasterers to restore existing features or even create new ones.
Get Rid of Your Garden
This may sound counter-intuitive, but if you live in London, where parking is at a premium, paving over your front garden to create a drive helps make your property more attractive to buyers, adding up to £50,000 to its value.
Plan Ahead
If you can’t afford costly extensions or renovation work, just securing planning permission can help increase the value of your property. The process may cost you £1-2000 but the house is more likely to sell if potential buyers know permission for the work has already been granted.
There are many ways in which you can add value to your home. However, before going ahead with any expensive renovations, make sure you calculate the costs and how much value could be added to your property – that way you can be sure that it’s worth the time, money and effort.
Photo credit: Lordship Lane, London N17 by A R Driver
