England, Wales, Scotland & Northern Ireland
Residential Market
Here's how to add £50,000 to your home if your planning to sell in 2024
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Adding value to your home doesn't always require extensive renovations or a hefty budget. Simple, strategic updates can significantly enhance your home's appeal and increase its market value.
Every Investor expert, Bert Hofhuis gives homeowners wanting to add value to their homes a breakdown of easy and accessible ways to add value to your home:
Paint and Colour Refresh
Impact of a Fresh Coat: A fresh coat of paint can transform a space. Neutral colors are universally appealing and can make rooms feel larger and brighter.
DIY Opportunity: Painting is a manageable DIY project for most people. Just ensure you prep surfaces properly and use quality paint for lasting results.
A fresh coat of paint can potentially increase home value by around 1% to 3%. For a home valued at £250,000, this could mean an increase of £2,500 to £7,500.
Update Lighting Fixtures
Modernise with Lighting: Replacing outdated light fixtures with modern ones can instantly uplift a room's appearance.
Energy-Efficient Options: Consider LED lighting or energy-efficient models to add both aesthetic and functional value.
Energy-efficient lighting could add about 1% to 2%, translating to an increase of £2,500 to £5,000 on a £250,000 property.
Revamp the Kitchen
Minor Kitchen Updates: You don't need a full kitchen remodel. Updating cabinet handles, faucets, or adding a new backsplash can make a big difference.
Appliance Facelift: If your budget allows, upgrading to energy-efficient appliances can enhance both the look and functionality of your kitchen.
Kitchen Updates: A minor kitchen remodel could yield a return of around 3% to 5%, possibly adding £7,500 to £12,500 to the value of a £250,000 home.
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Bathroom Makeover
Simple Changes: Replacing old taps, showerheads, or adding a new toilet seat can refresh the space.
Deep Clean and Re-grout: Sometimes, a thorough cleaning and regrouting can make tiles look brand new.
Bathroom Makeover: Simple bathroom updates might boost value by 2% to 3%, equating to an increase of £5,000 to £7,500 for a £250,000 house.
Enhance Curb Appeal
First Impressions Count: Simple landscaping, like maintaining the lawn, planting flowers, or repainting the front door, can boost curb appeal.
Exterior Lighting: Adding or updating outdoor lighting can make your home look more welcoming and secure.
Enhancing Curb Appeal: Improving the exterior can add approximately 2% to 5% in value, which could mean an additional £5,000 to £12,500 for a £250,000 property.
Flooring Upgrades
Carpet Cleaning or Replacement: Professionally cleaning or replacing worn carpets can freshen up your home.
Hardwood Appeal: If you have hardwood floors underneath, consider refinishing them for a classic, appealing look.
Flooring Upgrades: New or refurbished flooring can add about 3% to 5% to home value, potentially increasing a £250,000 home’s value by £7,500 to £12,500.
Create an Outdoor Living Space
Deck or Patio: Adding a simple deck or patio can increase your home’s living space and appeal.
Outdoor Furnishing: Even modest patio furniture and planters can create an inviting outdoor area.
Outdoor Living Space: Adding a deck or patio could add around 2% to 5%, translating to an increase of £5,000 to £12,500 on a £250,000 property.
Declutter and Organise
Less is More: A clutter-free home appears larger and more inviting. Consider innovative storage solutions to keep things tidy.
Minimalist Approach: Streamlining furniture and decor can make rooms look more spacious and elegant.
Declutter and Organise: This can make a home more appealing, potentially adding 1% to 2% in value, or £2,500 to £5,000 on a £250,000 home.
Energy Efficiency Improvements
Insulation Upgrades: Improving insulation in attics, walls, and basements can reduce energy bills and appeal to environmentally-conscious buyers.
Smart Thermostats: Installing a smart thermostat is a minor update that can enhance your home’s tech appeal and efficiency.
Energy Efficiency Improvements: These can vary widely, but on average might add 3% to 5%, increasing the value by £7,500 to £12,500 for a £250,000 property.
Regular Maintenance
Keep Up with Repairs: Regularly fixing small issues prevents them from turning into major problems.
Routine Check-ups: Regular check-ups on heating, plumbing, and electrical systems can ensure everything is in working order.
Every Investor expert, Bert Hofhuis says:
Adding value to your home can be a rewarding process that doesn’t have to break the bank. By focusing on these simple, doable updates, you can enhance your home's appeal and functionality, making it a more attractive and valuable property on the market. Remember, sometimes the smallest changes can make the biggest difference!
