Achieving the Best Value for your Property

The UK housing market is as buoyant as ever – demand is outstripping supply, sales are completing faster, and prices are at an all-time high. It seems that the market couldn’t be easier for sellers – but you’d be wrong to assume so. The cost of living crisis and soaring inflation are starting to have an impact, making it harder for buyers to justify spending so much money on property, with many purchasers searching for homes with that extra ‘wow-factor’ to justify their spend. That’s why today, we’re bringing you our top tips for how to achieve the best value for your property to ensure that whichever direction the property market takes, your listing remains competitive.

The Great Outdoors

Firstly, if you have a garden – or any form of outdoor space for that matter, such as a balcony or terrace – make sure it’s just as well kept as the rest of your property. Not only can ill-maintained gardens be an eyesore, but any potential purchasers may be put off by the prospect of extensive garden renovations, which will undoubtedly cost them valuable time and money. The pandemic has shown us that spending time outdoors can be beneficial for our mental and physical wellbeing, which has led to a surge in interest in houses with abundant garden space. Potential buyers will be willing to pay more for your property if it has a well-maintained garden, with a recent survey by the AA suggesting that it could boost your asking price by up to 5 per cent. If you have a smaller garden or balcony, don’t worry – ensure that the space is clean and well-maintained to create the illusion of more space and show that the area is still functional, and ask your selling agent to mention the best nearby parks and walking routes in your listing.

The Race for Space

If you have considered getting an extension and successfully obtained planning permission for your property, you’re in luck – having planning permission can increase the market value of your house and make it more appealing to potential purchasers. Obtaining planning permission is a relatively inexpensive procedure which can significantly boost your property value. It shows potential buyers that they have the ability to mould the property to suit them and that their home can grow with them if they choose to expand their family, or should they require more space. This is especially true if your permission allows for an extra bedroom, with this potentially adding a ten per cent boost to your property’s asking price according to RESI. More square footage is becoming increasingly important in the aftermath of the pandemic, where hybrid working has encouraged many employees to set up their own home-office spaces in spare bedrooms and conservatories. Ask your selling agent to emphasise the range of uses for an extension in your property’s listing to achieve the best value for your property.

Fine Tuning

If you’re not able to spend an abundance of time or money on extensive renovations, you can still boost the value of your property by perfecting the smaller details. Taking small steps to neaten your property indicates to any viewers that the home has been looked after and routinely reviewed for any minor damages, which thereby boosts their confidence in the property. Signs of distress can downvalue your property – in fact, a recent survey indicated that decluttering your property and doing some cheap decorating can boost the value of your home by ten per cent. This fine-tuning not only makes your property look good in person, but in photographs as well, making your online listings look more appealing and generating more interest.

Go over your skirting boards and cupboards with an extra coat of paint to hide any wear and tear, and pay attention to any discoloured sealant in your bathroom or kitchen. To create an extra-sensory element of luxury to your home, consider using reed diffusers or room spray, and opt for warm-toned light bulbs over harsh, clinical ones to create an ambience that feels homely and comfortable. If you’re in doubt about any potential redecorating, try to keep things light and neutral – lighter colours allude to more space, and neutral tones provide a ‘blank canvas’ effect which will appeal to most viewers. Not sure about how to optimise or decorate your space? Consult with a staging company to see how you can show your property in the best possible light – staging services will also be able to loan you furniture and décor exclusively for photoshoots, meaning you don’t have to spend too much money on items that you won’t be keeping.

Want to achieve the best value for your property?

Centrick’s team of award-winning property experts know the UK property sales market like no other. By keeping a close eye on market trends, we know what purchasers in your area are looking for, and how you can optimise your property accordingly to help it achieve the best possible price. For more tailored advice on how to achieve the best value for your property, contact our team today using the form below – we look forward to hearing from you soon!