As property prices start their ascent in the move towards the middle of the year, many owners are thinking of making extensions to their homes. There are two main reasons for this; firstly, with stamp duties and agent fees, buying a bigger home can be an expensive exercise and secondly renovating and extending can be good alternatives to moving. But for those who definitely are selling, upgrading their homes first can be the best way of improving the profit they will make on it.
Having a Purpose
If house owners are making changes to suit their lifestyles, then ending up with a home to suit their needs should be number one on their agenda. Making changes in order to sell for profit requires more strategic planning. Even if they are talented at interior design and full of ideas, it is vital that they know what really adds value to a house and what does not.
Changes That Do Add Value
Kitchen upgrades: Cupboard doors, wall tiles and floor covers. Nowadays, you can purchase ready-to-use prefabricated granite countertops to add value to your kitchen.
Bathroom upgrades: Wall and floor tiles, bath resurfacing, new vanity.
Paintwork: A fresh coat invariably adds a lot more than it costs to do.
Floor coverings: Steam clean carpets, polish timber flooring. Timber is great in living areas, but stick with carpets in the bedroom.
Gardening: Tidy gardens and floor beds, mow lawns and prune shrubs; most landscaping should give a good return on the cost.
Climate Control: Heating in cold climates and air-conditioning in hot climates create a comfortable and welcoming feeling.
Extra rooms: Be careful to keep the room in proportion. Do not add two extra bedrooms unless creating more living space as well.
Garaging: Providing car parking generally adds lots of value. Go for direct access from the parking area into the home, if possible.
A thorough clean: Home should be detailed before it is sold - - first impressions are critical.
What May Not Add Value
Swimming pool and spa: These are lifestyle features for enjoyment and are notorious for not returning the money spent on them.
Expensive fittings: Curtains and light fixtures can date quickly.
Strong fashion themes: Brightly colored walls and wallpaper are a personal taste, so an expert's advice should be sought first.
Extra storage: While it is an important feature, most people would not pay extra because of its presence.
Security alarms: It may be important but one may not recoup the cost at sale time.
Checking the Area
The information given forms the basic guide. House owners should start by checking the neighborhood, as the location of the property is a significant determinant as to what adds value to a house and what does not.
Family homes in prestigious areas are a different story from a small unit in the city. It should be thought carefully as where they are and what are they trying to do.
Creating an ultra-chic, modern apartment in a traditional area favored by young families will probably not reap the financial rewards you had hoped for. Talking to local estate agents would be helpful in knowing what may be popular with buyers in the certain area.
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