Do you Need a Market Update on your Property?

Tuesday 16 Apr 2019

When the time comes to sell your house, the first thought that comes to mind is ‘what’s the value of my property?' There are a number of factors that affect the value of your property, many of which are fluid and change with time. Many homeowners make an initial investment by purchasing the property and then try to increase the value of their investment over time. Changes to the property may increase value. However, there is a distinction between changes that are needed and changes that you want. Closing in the back porch, for example, to create a warm sunny space for the winter may seem like a great idea but if it’s done without proper planning permission, it may decrease your home’s value – either by impacting on its structural integrity or as a result of the risk that the council could issue a demolition order to you or any future owner. There are many improvements large and small that can be made, but the best approach is to do your research, stick to basics and make sure you do things thoroughly and professionally. Here are a few things you can do that will improve value and your lifestyle: •Landscaping – Create a low maintenance and stylish garden. •Painting – A fresh paint job can make the world of difference to the outside appearance of your property. However, try not to stray too far from the existing colour scheme. •Internal spaces - Removing a non-load bearing kitchen wall can expand a living space and add considerable value. The change in your property listing from ‘separate kitchen’ to ‘open plan living space’ can make a huge difference to buyer interest. •External spaces – Creating new spaces in your garden opens the opportunity for a wider range of buyers. There are dozens more possibilities but starting with the basics keeps things achievable and affordable. Make sure you talk to your real estate agent during your property appraisal about the improvements you’ve made. They will often have hot tips about what buyers are currently looking for, giving you food for thought for future improvements you can make.