Being sure of a house prices is like knowing lottery numbers: you’ll choose from a few options but really all you can do is hope for the best. High prices mean areas are more prosperous, possibly attracting new business, transport links and shops, and low prices mean affordability, with first time buyers and down-sizing older homeowners taking advantage of ‘hidden gem’ areas.
August has seen properties across Britain hit a three-month low, growing at 2.1%, slowing down from a growth rate in July of 2.9%. The housing sector across Britain has slumped since the Brexit vote in June 2016. So with inflation continuing to rise and consumer confidence deteriorating, how can you avoid your house becoming devalued and add value to your property?
Structure your structure
It’s easy to get caught up in the cosmetics of a home, but any structural problems you might be suffering from will not only add value to your house but give you peace of mind too. Let’s not kid ourselves – this can be expensive work – but it’s essential work, and neglecting it only means more headaches as you come to sell your property; a building surveyor won’t be fooled by hiding issues like damp or structural cracks in walls under cosmetic changes.
Take on the disruptive jobs
If you need no structural work, great. But the dust isn’t stopping there – the annoying, fiddly jobs like updating the electricity (rewiring, a new fuse box, adding extra sockets with new faceplates), and fixing old pipework and plumbing exposes great opportunities to not only make your house seem up-to-date and safe, but also makes everything easier for you while you live there. Even adding space in your loft – for storage or a daring conversion – will be sure to add more to your house’s value.
Tackle superficial flaws
Blemishes are bothersome. Peeling paint unsightly, and on its own, it won’t be a reason why buyers and valuers don’t pay top price for your home. However, when you add this problem to a list of other issues, like sticking doors, dripping taps, cracks in plasterwork and loose tiles, they paint picture of a house that could use some upkeep – which doesn’t make it valuable. These are fairly simple fixes that can be completed quickly and will do wonders for the aesthetic appeal of your property. Plus, you get to live with these problems being fixed too – why put up with small defects?
Work outside as well as in
A beautiful garden can do wonders for the feel of a property. A perfect house with a scrubby jungle of a garden will never get the price as a well-kept property with a nice green space outside. Talk to a designer or landscaper for ideas, and make sure you put emphasis on privacy; fences or hedges are a must.
You can’t always second-guess the economy, but value in a house can be attained with some extra work and some forethought. Talking to those in the know can also help you out, so why not give iSell a ring today to find out how we can help you get the best out of your next remortgage?