You Can Boost Your Property Value

25th September 2020

You Can Boost Your Property Value

With the stamp duty holiday in place, there is a considerable level of interest and activity in the housing market. It is natural for homeowners to look at the market, and review what houses are being sold for or what local asking prices are.

If you don’t plan on selling your home soon, but you would like to ensure you are in a strong position to do so in the future, consider boosting your property value. At Merrys, we are pleased to say we have assisted many local homeowners in selling their home, and we can help you reach the right buyers.

What changes do you wish to make to your home?

According to research carried out by the Tap Warehouse, upgrading your kitchen and bathroom can improve the value of your home by 10%.

With the average price of UK home’s standing at £235,298; this represents an increase of £23,529. This would see the house value move up to £258,827.

According to Zoopla, as of the start of September 2020, the average value of property in Northampton is £258,484. 10% of this sum is more than £25,000, which is a sum many homeowners would like to add to the value of their home.

Desirable features in the kitchen include:

  • Spacious and modern storage units

  • Island or breakfast bar

  • Glass doors leading outside of the property

Desirable features in the bathroom include:

  • Good quality tiles and grouting

  • A stand-alone bath-tub

  • A power shower

Four top tips from the experts at Tap Warehouse are as follows:

  1. Clean the grout on your tiles or re-grout the tiles – which will result in the bathroom or kitchen looking newer than it did before

  2. When decorating with selling in mind, opt for neutral colours, as this will help you appeal to more prospective buyers

  3. If you are looking for an affordable way to upgrade the style of your kitchen or bathroom, you will find upgrading the taps is a great idea

  4. Any homeowner who cannot justify the cost of a breakfast bar or kitchen island should consider buying a standalone unit

Make the right changes in improving your home

Tom Drake is a DIY specialist at Tap Warehouse, and he said; “Bathrooms and kitchens are two of the most expensive rooms to renovate, so poor quality in either of these is likely to give buyers the perception they'll need to invest a lot of money on renovations.”

It is vital you carry out research on what changes are best for you. We know the local area, we know what homes have to offer, and we know what buyers want. If you want to connect with buyers in the right manner, call on us and we will be more than happy to assist you.

Tom also said; “However, if you make the investments yourself before you place your home on the market, you’re more likely to increase your profit. After consulting with property professionals, we uncovered that investing into the kitchen and bathroom can increase the average house value by 10% (£23,529). In our experience it's often the smallest details that can dramatically improve the perception of a home. Simply installing a new tap or a modern shower can completely transform an entire room.”

We know a lot of people are looking for guidance and assistance right now. If we can be of any assistance, we will. Therefore, if you have any housing market questions, please contact Merrys today, and we will be happy to help.

If you’re a buyer or renter going on viewings:

You can still go and view properties that you’ve had your eye on, but you must follow our simple guidance to ensure your viewing goes as smoothly and as safely as possible:

Protecting yourself and those in the property you’re viewing

Whether it’s on your way to a viewing, or once you get there, remember these three key pieces of advice from the government:

• Maintain a 2m distance from anyone you aren’t living with – we know this can be tough at times, but it’s possible. If you ever forget what 2m looks like, imagine taking two long strides, or visualising the height of your front door!

• Wash your hands regularly (and thoroughly) and avoid touching your face – we’ve all got the dry hands to prove it, but this remains one of the most important pieces of guidance right now to help prevent the spread of coronavirus.

• Minimise contact with surfaces outside of your home – this can be hard as we touch so many things throughout the day, often without thinking about it. Common things include door handles, lift buttons and ‘stop’ buttons on the bus.

Why not start with an online viewing, if available?

You’ll still need to view the property in person, before being able to proceed with an offer, but it’s a great place to start. Particularly helpful if you’re not entirely sure whether it’s suitable for you, it’s also one less journey you’ll need to make. If you’d still like the view the property, the agent will be pleased to know you’re serious.

Before the viewing

In line with government guidance, anyone experiencing coronavirus symptoms should be staying at home, to help prevent further spread of the disease.

To give confidence to all parties present at the viewing that this guidance is being followed, and to help the agent manage the viewing in the most efficient way possible, you should be asked to complete a handful of questions before your viewing such as:

• Has anyone in your household had COVID-19?

• Has anyone in your household displayed COVID-19 symptoms or not yet completed a required period of household self-isolation?

• Are you in the high-risk category?

The current owner, or tenants, of the property you’re going to view will have also completed these questions, as will the agent if they’ll be present on the viewing, so don’t be afraid to check with the agent on this if it’s a concern.

We would also recommend asking the agent as many questions as possible before the viewing, to help save time on the viewing itself.

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