Adding Value to your Home
THEODORA MICHAELOUDIS >
Consultant SolicitorTue 16 April 2019
‘Home Sweet Home’ is the classic saying but it is so true when you consider that where you live is where you spend the majority of your time. It is the place you spend time with your family, relax, unwind, reflect, dream and make plans. It therefore not surprising that many choose to get involved in family/individual projects to add value to their home. For many adding value is about maximising space, creating a more clutter-free environment, by organising their belongings and possessions and moving towards a more minimalist style of living. Below is what you can consider:-
Consider the type of value you want to add
Adding value is about what is right for you! It is not just about what others are doing but what feels right to you, and provides you with the quality of life you need. It is about adding value to your wellbeing as well. After all, most people don’t just buy a property for a season only, but for several years, and therefore the living space you create is important for creating balance and harmony.
It is often the case that in the pursuit of decluttering you end up creating more open plan spaces. Having more open plan spaces are known to add value to your home. When it comes to selling your home a potential buyer will want to see what they can do with the space to make the property where they want to live in. Therefore making a property attractive to a larger pool of potential buyers is important.
Adding value does not just extend to the home but also to the garden as the right garden can add up to 20% to a property’s value. Privacy is important and having high fences is just as important to potential buyers as is a well maintained and well designed garden.
It is no surprise that making the right alterations to your home can add value. Many consider loft conversions, adding an extension, adding a conservatory, converting into flats, converting the garage into living space and converting a cellar. Subject to obtaining the requisite consents from the council such alterations can add considerable value to your property.
Subject to some exemptions, the EPC (Energy Performance Certificate) is now required when selling your property. Nowadays a potential buyer is more interested in buying a property which is more energy efficient with a higher rating which will result in lower fuel bills.
Price of a property
Some consider buying a property cheaper so that they can add value through making alterations, and increase the price. However, when making such a decision, location is also an important consideration.
If you have any questions you'd like to ask Theodora regarding your property, please get in touch. Click here to see Theodora's profile and contact details.
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