How to add £50k to the value of your house, in less than one week

According to the Federation of Master Builders (FMB) and the Home Owners Alliance (HOA), you can enhance the value of your property by almost £50,000 simply by removing an internal wall to create an open plan kitchen and dining area.

 

Chief executive of the FMB, Brian Berry, said the work would cost less than £3,500, take seven days to carry out, and would add £48,417 to an averagely priced home in London.

 

"By investing in low-cost, high-return projects, not only will you make your home a more pleasant place to live, you’ll also be increasing its value significantly. Better still, these projects take no time at all so the hassle factor will be kept to an absolute minimum," he said. 

 

But what if this isn't an option? What other projects could you invest in to significantly add value in a short amount of time? Here are some options:

 

  1. Build a garden room or outside playroom. Typical costs for this project will be in the region of £6,500, but will add an average (in Surrey) of over £35,000. A massive £28.5k profit.
  2. Update your kitchen. With careful planning this could cost in the region of £4,000, but could add almost £27,000 to the value of your property.
  3. Turn a cupboard into a downstairs toilet. With an initial outlay of just over £2,500 it could add up to £24,000 to the value of your property
  4. Add an en-suite bathroom.  Converting part of a bedroom into a a bathroom can cost as little as £4,700, but add in excess of £14,500 to the value of your home.
  5. Add a driveway. If you have the space, buyers will pay more for a property with added parking space. For an investment of £2,200 you could add £13,300 to the value of your property.
  6. Install decking. For just under £4,000 you could add decking and lighting generating additional value of up to £9,000.

 

Potential returns will vary by property and location. Contact us if you'd like specific advise, before you invest the money.

10 Pitfalls To Avoid When Selling Your Property

Buying and selling a home can be a stressful process, so it's important you are aware of the pitfalls that can cause a sale (or rental) to fall though. If you address these early in the process your chances of the deal going through is much greater.

 

According to the NAEA (National Association of Estate Agents) Propertymark, these are the factors that most commonly cause issues:

 

1.      Nuisance neighbours. If you've had an issue with a neighbour eg over boundaries, shared access or anti-social noise you're better off being honest early in the process rather than risk it affecting things later down the line.

2.      Structural problems. If you know of any structural problems with your property, you should fix them straightaway. Or, as a minimum, get a contractor to provide an estimate for the work, so this can be included as part of the negotiation. 

3.      Japanese knotweed. This invasive plant has deep roots that can damage the foundations of properties. If you think you have any, call a professional to get rid of it. Not only can it significantly devalue your property, it puts it at risk of subsidence and could affect the ability to get a mortgage on the property.

4.      Rail timetable changes. If you're within a commuter belt. Changes to timetables can affect the saleability (or rental) of your property.

5.      Planning permission. Have you had any work carried out on your property whilst you've been living there? Such as extensions or conversions? If you have, make sure you have all the documents you need to prove they have been completed in accordance with local planning regulations.

6.      Remaining lease length. If your property has a short lease time remaining, you should provide this information as early as possible.

7.      Flight paths. Noise form airports is cited as one of the common reasons why a purchase fails to go through. Be honest with prospective purchasers (or tenants) about how much you can hear and at what time of day you're disrupted.

8.      Parking disputes. If you have a dispute with a neighbour over street parking or shared driveways, try to resolve them with your neighbour first. If necessary, check the deeds of your property to see where boundaries lie.

9.      School catchment areas. This is one of the most important factors for parents of school age children. Make sure you are up-to-date with the local schools, so you can advise if your property falls within the catchment areas.

10.  Damp.  Not only can damp cause damage to a property it can also be a health risk. Most cases of damp are simple and inexpensive to fix. If you're concerned get a specialist company in who can advise what works need carrying out and the potential costs. You may need to factor this into the sale price of your home.

Why changing the colour of your front door, could help you sell more quickly!

It's long been understood that colour has the power to transform behaviour and shape the way that we perceive a wide variety of goods and services. Businesses spend millions in branding and marketing to encourage us to chose their brand above others.

 

In our homes, we also use colour to affect the mood and ambience of each room. With brands such as Dulux investing heavily in the branding of colours to reflect the style, heritage and personality that we want to portray.

 

One of the most often overlooked items, when considering our colour schemes, is the colour of the humble front door. Yet this is one of the first things that potential buyers or tenants will see. Helping them form an impression of your property, long before they step through the front door.

 

Current colour trends typically take property owners down one of two roads. Bright yellow, pink and turquoise are very much on trend, giving properties a wow factor with a flash of vivid colour. The other option, also popular, is to adopt a more traditional, subtle, muted colour such as deep blue, dark grey and sage green. As timeless colours they help create an impressions of style and heritage.

 

So, can the colour of our front door influence the potential sale or letting of your home? Many agents think so. But, it would appear, that the choice of colour is dependent upon where you live.

 

Here's what Country Life suggest:

 

 

Taking all of the above into account, according to Country Life's research blue is the most popular colour when it comes to selling or letting a property.