Property experts Tepilo highlight how sellers can increase the value of their home quickly, and why the next few months are a great time to sell up.
The clocks have sprung forward, the spring equinox has been and gone (heralding longer, lighter days) and Easter is just around the corner, which all means that now could be as good a time as any to sell your home.
Why? Well, longer days (and more hours of daylight) mean more time for would-be buyers to view homes, equally helped by the upcoming long weekend.
The Easter break may be treated in a similar way to Christmas by some – with time off used to browse for properties or to cement initial interest in potential homes.
As a result, you are likely to have an active buyer audience in the next few weeks (late March and April are often busy periods in the housing market) and, to take maximum advantage of that, you need to be fully prepared.
Adding value to your home
Even better, you could add nearly £50,000 to the value of your home in just a week if new research carried out by the Federation of Master Builders (FMB) and the HomeOwners Alliance (HOA) is to be believed.
The research looked at the home improvement projects which can add the most value to a home in the shortest space of time, and how this varied by region.
For example, an averagely priced home in London could see an uplift of £48,417 in seven days by simply removing an internal wall to create an open plan kitchen and diner.
In Surrey, £35,611 could be added to the value of an averagely priced home in just two weeks by building a garden room or outside playroom for children, thereby making a home significantly more attractive to buyers with young families.
Elsewhere, simple kitchen improvements – such as new flooring, new worktops and new cabinet doors – could increase the value of an averagely priced Dorset home by £26,838 in just eight days.
An extra toilet
The findings also showed the positive impact of a downstairs toilet. An averagely priced home in Surrey could see its price rise in value by £26,708 in just seven days thanks to the addition of a downstairs loo.
Similarly, converting part of the master bedroom into an en-suite bathroom could add nearly £15,000 in 11 days to an averagely priced home in the capital.
With the ability to park easily such a key priority for would-be buyers, the construction of a new driveway (which typically takes about 4-7 days) could help to add almost £14,000 in just nine days to an averagely priced abode in Surrey.
Meanwhile, decking and lighting in the back garden could help to increase the value of an average home in Dorset by nearly £9,000 in just a week.
Low-cost, high-return projects
According to Brian Berry, chief executive of the FMB, homeowners would only need to invest less than £3,500 to create an open plan kitchen and diner, but this would add a whopping £50,000 (give or take a few pennies) to the value of a typical London home.
Those looking to move up the property ladder will be eager to increase the value of their home as much as possible, with low-cost, high-return projects able to achieve this while also making living space more appealing.
An added bonus is the short turnaround time for such projects, which means hassle, time, stress and cost will all be kept to a minimum. If you’re worried about the disruption that home improvements could cause to your home at a time when you’re looking to sell, worry no longer – as most of the projects outlined above can be completed in double quick time and with minimal disturbance.
Take advantage of the better weather
The arrival of spring should also herald the arrival of better weather. Granted, another mini Beast from the East is forecast – bringing with it fresh snow, bitter colds and travel chaos – but after that, the temperatures should start to feel more spring-like.
This means that carrying out home improvement projects becomes more appealing. Of course, if you decide to improve your home, it’s vital that you hire the services of a professional, reputable company. Friends and family members may be able to offer recommendations, but you could also use the FMB’s free ‘Find a Builder’ service or a site like TrustATrader.com to source someone suitable.
Warmer weather should also encourage more buyers to house-hunt and more buyers to attend viewings. Try and arrange viewings during the day and make sure your home looks up to scratch. If possible, flood your home with lots of natural light and point out your property’s best attributes.
Whether you’re looking to increase the value of your home with one eye on selling in the future, or looking to sell now, the Easter period and the spring months should provide ample opportunity (and ideal conditions) to make that achievable.