Maintaining or increasing the value of your home is an important way of maximizing your investment. Whether you intend to sell in the near future or you simply want to keep your options open, adding value to your property will stand you in good stead.
However, it’s essential to know what improvements to make, if you want to generate a good return and increase your property valuation. With this in mind, take a look at the areas of your home which have the most impact on its value:
1. Kitchen
The kitchen is the heart of your home, so it’s not surprising that it has such a major impact on house prices. Many potential buyers want to avoid the hassle and cost associated with having a new kitchen fitted, which is why a well-appointed kitchen can add a surprising amount of value to your property.
2. Bathrooms
While the number of bathrooms in a property can affect its value, the fixtures and fittings, as well as the décor, can have an impact too. Again, potential buyers often want a home that they can move into and do minimal work, which means high-quality fixtures and a pleasing aesthetic are a must. If you have the space, creating a spa-inspired bathroom can be a sure-fire way to maximize the impact it has on the value of your property.
3. Exterior
Many people are surprised at how much the exterior of a property can affect how much it sells for. While a property developer or investor won’t be put off by an overgrown garden, a potential homeowner might be. Increasing the kerb appeal of your property should, therefore, be a top priority if you want to add value to your home.
Should You Have Your Home Valued?
Property prices can change significantly in a relatively short period of time, so getting an up-to-date valuation can give you an idea of what your home is currently worth. When you request a valuation from reputable estate agents, like mbhomes.co.uk, you can get an idea of how much the property is likely to sell for or how much it could generate on the rental market.
Once you have this information, you’ll be able to make a decision about whether now is the right time to move, remortgage, or let your property. If you want to maximize your income, for example, you could rent a smaller home and let your property out to tenants. Alternatively, if you want to release equity, you could sell your current residence and buy a smaller and cheaper property.
Planning a House Sale
If you are thinking of selling your home, it can be useful to take a strategic approach. By getting a valuation, you can decide whether to invest in home improvements to increase its value, for example. This will give you enough time to undertake any repairs or make changes that will have a positive impact on the value of your home and increase the return on your investment.
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