Thu, 27th August, 2009 - Posted by
Many homeowners and property developers who undertake home improvements will do so to raise property values. As the UK slowly emerges from the recent recession, dragging the housing market behind it, the average price of homes in the country is gradually returning to a more normal value.
Normal, in this sense, means a recovery from the past year of recession hit prices. Normal also means that many homeowners will be able to look at their homes as the investments they once were – likewise, property developers can begin to escape the relative lull that has forced numerous companies out of business.
Nevertheless, whilst the economy will ultimately determine the value at which a property can sell, there are many things that homeowners can do to increase its potential sale price. Extensions are among the most valuable of such improvements because these add real space, whilst typically adding several thousands of pounds worth of profit to a future sale. Installing a fitted bathroom or kitchen, insulating cavity walls and undertaking a loft conversion are also useful for generating more cash when the time comes to sell. However, not all such home improvements need to be major jobs.
Apart from adding a new room to a house, a prime mover of an early sale is creating a good first impression. This will invariably demand a spot of DIY and redecoration, as the first task would be to paint all the walls white in order to maximise the appearance of space and avoid negatively influencing a potential buyer’s interest in the property. Finally, it is essential to present a light and open hallway, as this will set the tone of a viewing.