Do home improvements, modern amenities & utilities positively affect house prices? We think so!
Buying a home is more complicated and expensive than ever before, and first-time buyers in particular are struggling to get that first foot on the property ladder. Along with arrangement fees, legal costs and a substantial deposit, first-timers and families upsizing for the first time are also faced with the potential costs of modernising a home. Whether it’s a matter of cost or time, many buyers simply want to get the new keys to their home and move straight in. If you can attend to the major amenities, utilities and decorative features in your home, you could get a pleasant surprise from your next property valuation.
Updated utilities are great home improvements and can lead to higher house prices
If your home is more than thirty years old, there is a chance that it may need rewiring. The easiest way to find out whether rewiring is required is to check the type of fuse box that is in place. Modern wiring requires a modern fuse box with a residual circuit device (RCD), and if your home doesn’t have one, it will be one of the first jobs a new buyer will have to carry out – affecting your home valuation. Rewiring before putting your property up for sale could result in a final sale price that more than makes up for the cost of the work, as buyers will often pay a premium for a property that is ready to move straight into.
Because rewiring a home is a disruptive and messy job, it is always a good idea to schedule any cosmetic works – including new wall and floor coverings – after the heavy work has been finished. Rewiring is also an opportunity to increase the number of power outlets in your home, as well as upgrading your light fixtures to something more attractive and contemporary. It is often the small details in a home that have big influences on property prices.
The state of plumbing also plays a significant part in the formulation of house prices, and carrying out these kind of home improvements, i.e., any works before listing your property for sale could also attract a premium from a buyer. Older pipework can experience a build up of fur, and that can be detrimental to the flow of hot and cold water around the home. If your plumbing system is old, it may suffer from pressure issues, as well as being prone to leaks and burst pipes. By upgrading to a pressurised plumbing system, you could make your home far more attractive to buyers.
Loft conversions and new windows can increase house sale prices
It is possible to convert your loft space for as little as £500 per square metre, and that is around half the price of an extension. The addition of windows in the loft and a permanent staircase could vastly increase the size of your home – opening it up to countless more potential buyers. Building regulations apply to loft conversions, however, so it is vital that you seek an expert’s advice before committing to a potentially expensive project.
Double-glazed windows – usually made from uPVC – are widely considered as essential features in homes these days, and not having them can severely affect a home valuation. As well as requiring the minimum of maintenance, they reduce noise from outside and increase a home’s energy efficiency. Wherever possible, it is always a good idea to replace windows on a like-for-like basis – installing uPVC windows in a period property could seriously harm its value.
Your home is your castle, but selling it means you need to make it appealing to the widest range of buyers possible. Buying a home – particularly for the first time – is now more difficult than at any time over the last thirty years, so doing some home improvements and getting your house ready to move into has the potential to add thousands to its value. If you need to sell your home to buy another then consider a quick sale and sell to Flying Homes, we will buy any house cash!