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There are many ways in which landlords looking to sell their properties in 2024 can increase the value of their house, through either quick wins or longer-term projects.
With the UK’s property market anticipated to remain competitive, particularly for sellers, maximising property value will be vital to attract interest and achieve your desired price.
We look in detail at some of the primary ways to add value to your property.
Quick Wins to Boost Property Value
The Power of Improving a Properties Kerb Appeal
The first impression potential buyers get of your property plays a key role in the price it achieves. The marketing imagery of a visually appealing property will stand out on property portals, increasing its chances of attracting potential buyers.
By rectifying minor issues such as a cracked window or uneven tiles and taking time to paint and maintain outdoor areas, your property’s kerb appeal will naturally increase. As a result, you will generate greater interest and put yourself in a stronger competitive position within the market.
Benefits of Increasing the functionality of your outdoor space
The garden offers an excellent opportunity to enhance a property’s image. Outdoor spaces modified and improved to include attractive features can outperform competitors on the market, increasing chances of achieving your asking price.
Simple, effective, and budget-friendly methods such as landscaping or adding outdoor furniture can enhance the functionality of an outdoor area while simultaneously enhancing its appeal to potential buyers.
In addition to landscaping and adding outdoor furniture, more advanced enhancements can elevate the appeal and functionality of a garden space, thereby enhancing the property’s overall value.
If you have the necessary resources, adding an outdoor living space, such as a porch or deck, with facilities like an outdoor kitchen or living space can improve the space’s appeal.
Long Term Projects
Maximising Space to Enhance Property Prices
By maximising the available space in your property, you have the potential to boost its value. There are two essential methods that you should consider before you proceed:
Extensions: As square footage is one of the main deciding factors in determining a property’s value, extending the property to include an additional living space could be worthwhile if you are considering selling. It is important that specifications of potential extensions align with the demands and expectations of the property’s area to ensure maximum results.
For example, in certain regions, there is a demand for properties with multiple bedrooms, which would suit families. Therefore, if your area aligns with this trend, converting your extension into a new bedroom may be the best route to optimising your property’s value.
Conversions: Conversions offer a way to maximise your property’s space without adding to its square footage. You can increase value and attract buyers’ interest by transforming areas like the attic or basement into desirable spaces such as an office, recreational space, additional bedroom, or a gym.
Employing Energy Efficiency to Increase Property Value
In recent years, potential homebuyers have become increasingly concerned about energy efficiency. This rise has been fuelled by mounting environmental consciousness and a higher demand for economic living. However, the most notable increase can be affiliated to the continuous rise of energy costs driving homebuyers to seek energy efficient housing.
For property owners embarking on retrofits or enhancements to integrate energy-efficient features, a notable increase in property value can be expected, averaging around 16% when upgrading from an F to a C Energy Performance Certificate (EPC) rating.
Given this evolving trend, landlords seeking to enhance their property’s worth before selling should contemplate modernised energy solutions to entice potential buyers willing to pay a premium. Fortunately, various options are available to retrofit properties for improved energy efficiency.
A worthwhile investment could be to improve insulation to limit energy consumption and enhance the property’s comfort. Alternatively, replacing windows with double or triple glazed options provides a quick and easy option to improve your property’s energy efficiency.
Conclusion
For landlords seeking to maximise their property’s value in the UK market for 2024 and beyond, it is essential to consider all available options. By investing wisely in strategic upgrades and enhancements, you can position your property in an advantageous position to attain your desired pricing.
We appreciate that landlords looking to sell don’t always have the time or resources for extensive work before selling. With such a competitive UK property market, alternative routes to sale are available. We Buy Any House provide a hassle- and cost-free service to those looking to sell their house fast, no matter their condition.
