If you are thinking of selling your home in the near future, you are going to want to get as much money for it as possible. Not only will you need to make a profit on your home if you are looking to move into a bigger or better property, but you will also need to make sure that your home does not go ‘underwater’.
‘Underwater’ properties are those that are in negative equity. This is where your home is worth less than you paid for it and when selling up doesn’t cover the cost of repaying your mortgage. There can be many reasons that this can happen. For example, there may have been developments in the area that have affected the value of your property which will have been built after you moved in- a road, for instance, could drop the value of your home.
While many things regarding the value of your home may be out of your control such as a dip in the housing markets, there are some things that you could do to add value to your home.
In this article, we’ll take a look at some of the ways that you could increase the value of your home.
Checking That Your Value Increase Is Financially Viable
While there are lots of things you can do to your property which will increase its value, it doesn’t necessarily mean that you should do these things.
Before you invest in making changes around your home, weigh up whether the investment is worth it. If something offers very little return compared to the amount that it costs, it may not be worthwhile.
Look for the changes that will make the maximum increase for the minimum spend.
Convert Your Attic Into A Living Space
One of the best ways of increasing the value of your property is to look for unused floor space and convert it into a room that can be used. One such example would be to convert your attic into a living space.
There are lots of things that you could do with your attic depending on the size of it. If your attic is big enough, you could convert it to a bedroom with an en suite bathroom. For smaller attics, you could choose to turn it into an office, a playroom, or a games room.
Convert Your Basement
Again, to use up existing floor space, you could convert your basement into a living space. This is a very versatile space which could be used as any room you choose. You could turn your basement into a kitchen, dining room, living room, or even a bedroom with an en suite bathroom.
Generally, basements can be the size of one floor of your home, so you could fit quite a lot down there.
If you are converting your basement into a kitchen, think about what you will do with your existing kitchen. You could turn that into an office, living room, or even a bedroom.
Use Your Garage As a Living Space
If you don’t use your garage or have two garages, then you may want to convert your garage into a living space. Depending on where the garage is in proximity to your house, you may have a range of options. If the garage is attached, you could create a living room or kitchen and dining room in there. If it is detached, you could make the garage into a small and self-contained annexe flat with bedroom, living room area, kitchenette and en suite.
Get Planning Permission For An Extension
An extension would add value to your home, however, it is a very costly undertaking. Much of the stress around building an extension will come from the planning stages. If you were to get planning permission for an extension to be built, then you could sell your home with planning permission in place. This would add some value to your home without the need for you to spend out on actually building the extension in the first place.
Think About Car Parking Solutions
Having somewhere to store a car is a big draw to many home buyers. There are lots of different options that you could put in place that would add value to your home. For example, you may wish to have your driveway paved so that it is not only functional but so that it looks great.
Think about using domestic carports. A carport will help protect a car from the elements and is more desirable than not having one.
Create The Illusion Of Space
One of the ways that you can help the sale of your home, is to give the illusion of space. If your home appears more spacious, then it may well sell quicker and it may also sell for more.
There are many small changes that you can make before putting your home on the market that will give the illusion of space. For example, painting the entire home in bright and warm colours will help it to feel airier which will improve how light and how big the room appears.
When staging the property, use your furniture wisely to make the room appear more spacious. Make sure that your home is free from clutter and that nothing looks too cramped or crowded.
Carry Out All Of The Small Maintenance Issues
There will, no doubt, be a number of small maintenance issues around the home that need doing. For example, you may need to give something a lick of paint here or repair something else somewhere else. All of these minor jobs add up and they will be noticeable to someone when they come to view your home if they are considering buying.
Go through your home and make a list of all of the small jobs that need to be completed and work through them in a methodical fashion. The more of these small jobs you get done, the better your home will appear.
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