If you are thinking about selling your property any time in the near future, then you will no doubt want to maximize its potential value. Whether you bought your home a year ago, or thirty years ago, it is natural to want to make a profit on the sale.
But there are so many factors that will affect the value of a property. The price that you paid for your home when you bought it may have been higher than the value now, or you may have got it at a bargain price. Things could have changed in the area, and this could have affected the value of your home. Something could have been built nearby which has knocked your value down. Or of course, your home may need some work doing to it, and this could affect the selling price.
Negative equity is a situation that nobody wants to be in. But if you are worried about losing money on the sale of your home, there are measures you can take to avoid this.
Modernize Your Property
If your home is getting on in years, there may be a number of elements that require bringing into the twenty-first century. Homes that are over thirty years old may not have wiring that suits our modern demands. We live in an age where we own an electrical device for everything. We have smartphones, tablets, laptops, TVs in every room, routers, and so much more running all at once. These all put a strain on electrical systems that were based around just a handful of appliances being used at once. By bringing your electrical systems up to date, you may add some value to your home.
Another area that you may want to look at modernizing is your heating installation. Having economical and effective heating in your home is important to home buyers, and if you only have old systems in place, they may not have the best energy ratings or give out enough heat to warm the home.
Other areas you may want to look at modernizing include your kitchen and your bathroom. These may appear dated or worn out.
Convert Your Attic Or Basement
One of the major ways that you can increase the value of your property is by increasing the living space. By adding additional rooms to the house, you can really add a substantial amount to the value.
If you have an attic that is not used as a living space, you could look at having this converted. This would make a great additional bedroom, with an en suite. Or, you could use it as an office space.
If you have a basement or a garage that is attached to the home, these can be converted to maximize the space on offer. Often, these spaces make for great dining rooms or kitchens.
You may want to completely rethink the whole of the layout of the home to work around these additional spaces that you create.
Extend Your Property
While extending your property can be expensive and complex to plan, it may well add on a considerable amount to the overall value.
When putting in an extension, it is important that you apply for planning permission first. Often this can take time to come back, and it may get rejected if it will cause problems for neighbouring properties.
Making your home look great throughout will definitely help with selling it. Creating a more professional finish with neutral colours will allow potential buyers to get a feel of how the home will look when it is theirs.
Painting walls using white paint is helpful as it will reflect the light that is coming in and will make the rooms appear bigger. To aid this, before you start the process of showing your home to would-be buyers, you should reduce the amount of furniture you have so that the house feels more spacious.
Look At The Exterior
To add curb appeal, don’t forget to put in some thought to the exterior of your property.
By cleaning your windows and gutters, and by painting your walls, you will create a more appealing property from the outside.
The garden is also an important area that could add value if it is kept in good condition. Make sure it is tidy when it is up for sale. If possible, make sure you have flowers growing in the flower beds and that your decking or patio have been cleaned.