On 19th May Funds centre published another article by Alice Lilley. The article can act as a quick guide for home sellers. She said that Most of the sellers go way beyond what they can afford in redecorating and renovating there houses when they plan to sell it off. Most o them think that doing so can help them in getting a higher price for there house. However this may happen in some cases but its not always the case. According to recent research from Direct Line Home Insurance, we have spent more than ?154 billion on DIY jobs that have actually lowered the value of our homes.
When planning to sell the house the owner should make sensible pound-to-pound basis redecorating. For example the right paint job – generally in neutral colors that will appeal to everyone – can add up to 10% to the final value of your home, Small touches such as window boxes and hanging baskets can make a home look cared for, covering worn sofas and chairs with large throws in a neutral colors Also don’t forget to clearing out clutter to make your home seem more spacious, stay on top of general household maintenance such as replacing broken light bulbs and showing the full value of your storage space by keeping cupboards, the basement and attic tidy too. Finally, make sure the house number or name can be seen from the road, and that your doorbell works.
If you have a bit more money to spend in the hope of increasing your home’s value, it is important to make sure that any improvements are appropriate to the character of the property. Stained glass, picture rails and original skirting boards in period properties should rarely be replaced with modern ones, for example.
Those planning to take on home improvements themselves should also beware of expensive mistakes as botched DIY jobs can significantly reduce the value of a property.
Now let’s come toward renovating. one of the main considerations is whether the change is in keeping with other properties in the area. Its no sense to improve a house to the point where its desired sale price is more than 20% higher than other houses in the immediate neighborhood. And while putting in a swimming pool may seem like a good idea, not everyone will see a pool as a positive. As well as the running costs, potential buyers with small children may in fact see it as nothing more than unwanted worry. An extra bathroom should keep its value, as long as it is not built at the expense of a bedroom and can add 5% to the value of your home, while a garage can add a further 5% and will almost always recoup the investment. Lofts, especially those that add an extra room and maybe even a separate bath or shower room, can boost the overall value by 10%, as long as they are well done. And central heating system replacement may be expensive, but it can be vital to holding up the sale price of your property. Again, however, the location of your property will have a major impact on the added value of renovations such as these.