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What Increases Property Value The Most

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  • 19-10-2022
What Increases Property Value The Most

What increases property value the most? Secure Automation provide electric gate installations throughout Newcastle and Tyne and Wear. We look at the factors which can increase the value of your home including automated gate installation.

What increases property value the most?

Suppose you want to increase the overall value of your property or household and wonder how best to update its features and what changes or major renovations are worth making to present it in the best possible light to near-future homeowners or tenants.

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In that case, we encourage you to search about your home, looking into every available room and analysing to search for faults, dated furnishings or decor, dirt, dust or anything that could put homebuyers off buying the property or renting it out. Do anything you can to make the property move-in ready.

Do the livable spaces lack unique, exciting, modern features that naturally entice customers and clients? Is it cosy, spacious, aesthetically pleasing to look at and functional?

If not, it may be time to convert rooms or furnishings into a beautiful, studious home office, add a patio with high-quality decking materials and stone veneer or extend the household to make way for an en suite, dining room or guest bedroom. You want to ensure the home's exterior features and interior adds convenience to the existing home with low maintenance devices alongside modern materials and beauty. Look through remodelling magazines for information and inspiration.

When in doubt, you can always contact local real estate professionals or qualified property designers for further insight into what is trending in your local area. We also recommend contacting financial advisors for a cash-out refinance should your property rise significantly in value. They will be able to advise on your current or second mortgage and the process of releasing home equity loans or personal loans you have garnered whilst in possession of the household. 

Ways to increase the resale value of your home

These are our top tips on the best ways to increase the resale value of your household or property. It can often be challenging to ensure your home is unique and stands out while making sure it appeals to a broad audience of local home buyers and potential future tenants. 

There are so many ways you can boost the overall value of your household or property, one of the best ways to start is by decluttering the content inside and giving each space a deep clean. It is an almost inexpensive task regardless of the size or scale of your home, especially if you already have all the products, tools and machinery bought. You may even want to go all-out and hire a professional cleaning service, and these are typically paid per hour.

However, if you are looking to save money, we recommend thoroughly completing the work yourself. Go through your furniture, home decor, ornaments, bedding, clothing, and books, and scour through cabinets for things you can sell or donate to charity shops. Clean out the drawers and other storage places, ensuring you get rid of everything you no longer want or need. A clean space with less stuff everywhere is more likely to entice customers and clients.

Growing families are always looking for more rooms and space in new homes. Implementing more usable, functional space into your existing property or home can up the value significantly and allow you to expand your target audience. It also makes plenty of sense for financial decisions in areas where space and land are limited or simply cannot be found on the market.

Homes are typically priced and valued depending on various factors; however, the most significant aspect is the livable square footage, so if there is more, it will shoot up in value. Adding a study, gym, bathroom upgrades or guest bedroom will increase the functionality of the entire household and persuade future buyers to invest in or rent the space.

Making the space different from others in the living area is also a way to enhance the value and make your household or property stand out on the market and seem more attractive. Please be wary of the kind of room you intend to add or create one or two-storey extensions for will inform the higher asking price; for example, a laundry room will be cheaper to implement than an en suite bathroom or a new master bedroom. 

You'll no doubt want to look for smarter ways to increase your home's value so that you can save money by lowering utility bills and labour for your new tenants or homeowners, as this feature will entice them to purchase. One of the best ways to ensure your home or property is completely energy efficient is by installing a hi-tech smart thermostat, or you can go the extra mile by paying for installations of solar panels on your roofing.

The perfect high-quality thermostat will enable tenants and homeowners to accurately control the climate of their homes from anywhere in the house or outside the premises. It allows them to manage energy costs when you're away on holiday or from the comfort of their couch. Such investments in smart home technology offer huge highlights and are a significant selling point that will add plenty of home value. Your clients and potential buyers will rest assured that they will have low energy bills, comfort, immense functionality and convenience for everyday use.

A quick update of your central heating system or water heater down in the basement can cost anywhere between £180-£450, averaging around £270 or so. To maximise the energy efficiency of your current or newly updated system, we also recommend repairing or replacing leaky windows, upgrading insulation in your building and installing more energy-efficient appliances, such as washers, dryers, ovens, etc. However, please be wary that new appliances and windows are typically more costly. 

The UK's most popular form of home improvement projects this year is wallpapering and painting. You'll find that adding a fresh coat of paint or brand-new wallpaper can alter the entire interior of a home, making it go from dated to modern, and it's not as costly to do so compared to other forms of home renovation. Assess your rooms for odd colour schemes or dated patterns that no longer suit the times or your own style and aesthetics.

As time goes on, our tastes and homebuyers' tastes also change. The competitive costs you'll face will usually depend on the type of rooms you wish to paint. For example, the bathroom is usually the smallest room in the house and will typically cost less to coat in paint than rooms with much bigger or usable square footage, such as the living room. Exterior paint can also be another way to spruce up the environment on doors, fences, and more.

When it comes to curb appeal, you'll want to keep a checklist of all aspects of the front of your home that you could adapt or update to enhance its overall appearance. For example, all can make a massive impact, whether completely redecorating your front garden and doors or thoroughly cleaning the driveway, windows, and lawn mowing.

According to recent reports, approximately 93% of the UK's potential buyers are more likely to view your home if the exterior is well-maintained, so upgrading the landscape can help you achieve much more. Add new ornaments, flowerbeds, water features, outdoor fireplaces and wood burners, beautiful outdoor lighting, etc.

Speaking of enhancing the curb appeal of your home or property, you can work wonders by simply replacing an old, paint-cracked or rusted front door. Instead of an old foggy green door peeling and blending in with the dull surroundings, perhaps opt for a brand-new solid mahogany door with oval lead glass and shiny new brass to add a breath of fresh air to the surroundings, or new vinyl sliding doors for your conservatory.

One focal point can dramatically change the entire perception and appearance of a home, so your front or exterior doors are a fantastic place to start.

If you wish, you can save money by staining the door yourself!Upgrading the front door or garage doors may also include heightening the level of home protection with brand-new devices, such as security cameras and lighting. Real estate agents and police officers often encourage homeowners to invest in such technology as they act as practical, useful deterrents.

Various buyers in the UK and worldwide view the kitchen as the heart of a home and its central feature. We greatly encourage you to focus on it and update its appearance and appliances if they are outdated to garner a solid sale.

However, we wouldn't recommend maximising the space if you struggle to utilise it due to its original layout and cannot afford to do so due to your financial circumstances. A kitchen extension can be pretty expensive for someone who won't be living in the space; kitchen renovations can typically cost around £72,000, and you, the homeowner, may not make more than this value when selling the home.

However, we do suggest doing whatever you can afford to do to spruce up the area, shiny new appliances, redecoration, light fittings, etc. You can add granite countertops, brand-new hardwood floors, heated towel racks, updated cupboard doors and other minor remodelling aspects. 

For those planning to sell their home, we highly recommend opting for home staging services instead of costly cosmetic home improvements. Home staging services involve rearranging furniture, redecorating or installing new features and other aesthetic strategies that allow sellers to present their home or property in the best light possible. Approximately 73% of staged homes are typically sold at or above their list price, which is often around £36,152 higher.

Often you'll find that staged homes move much faster off the market, usually nine or so days faster than an average home, perhaps due to their visual appeal and existing furnishings. Plenty of potential buyers across the market will select pre-set or staged houses as they may not be as creatively gifted as others and wouldHome Staging instead move into a space that has already been designed.

Tyne and Wear - Property Value

The average price of properties throughout Tyne and Wear over the past year was approximately £179,071 or around that sum.

Its most prominent sales were typically terraced properties that sold for prices of around £159,688, flats at costs of £119,743, whereas semi-detached houses sold for a lump sum of £182,510.

Overall, the national average costs were down by 7% compared to the previous year and yet 3% up compared to its peak in 2019 at around £173,649.

Are you looking for gate automation in Tyne and Wear? Find out more about our automatic gates throughout South Shields, Northumberland, Sunderland and Newcastle.