Most of us who are lucky enough to own a home spend a bit of time worrying about property values. We all suffer the nagging fear of owning a house whose value fails to keep up with the market.
Getting a Good Price
Whilst planning the future of my elderly parents’ home, I came across a fascinating small business that advises on how to maximise the value of a property you want to sell. I think the strapline, aimed at the home-seller, was something like “we cost you less than the value of your first price reduction”. The lady who runs it is brilliant at identifying how to present your home in such a way as to get the best sales value. You would be amazed at how much you can add to the price by careful preparation.
Clean Light and Space
My new friend says that homes sell because viewers fall in love with their potential. That doesn’t mean that people see a wreck and feel the urge to do it up. Most of us want to move in and be happy from Day One so things must look nice and liveable from the start. At the very least the place needs to be clean and look loved. But we also want to see potential.
Light and space sell homes for the simple reason that we all love to live with them. Windows and doors are things that improve the look of a home and that new owners are unlikely to want to replace immediately. That means that they can usefully be upgraded specifically in preparation for a sale. By making a house look nicer they can easily earn back their cost because new owners can be confident that they don’t need to be moved on in the near future.
Conservatories and Orangeries
My friend pointed me at a piece of research published by Towergate Insurance in 2017 which proves that conservatories and orangeries can particularly produce real value in a home. The study showed that they add an average of 5% to the value. On a house worth £300 000 that’s £15 000. Actually, Savills, the Estate Agency, are on record as saying that for some properties that uplift can be as much as 12%. That’s a potentially significant return on an investment, particularly since the new space also provides a fantastic asset before the moment that you choose to sell.
I should caution you though, that adding on to your home needs to be done carefully. The new space needs to look good and suit the style of your home and garden. You also need to be sure that you meet all the relevant planning and building regulations.
The Dovecote team are used to managing all these issues and we have a good understanding of how to go about it. We can help get you it right so that you both add a fabulous space to your home and make sure it’s a long-term investment for your future.
Just get in touch with us when you are ready to begin planning.