It is a challenging time for anyone hoping to sell their property at the moment, as sky-high mortgage rates are deterring lots of buyers. That is why many homeowners are doing what they can do to add value to their home.
One of the best ways to boost a home’s asking price is to make it bigger, as homebuyers will be more tempted to make the leap if they are able to get a larger property than they first thought.
President and co-founder of real estate investment marketplace New Western Kurt Carlton told Yahoo! Finance: “Anything that adds square footage or increases the bed / bath count instantly raises the value of a home.”
Property owners with unfinished basements, room for a loft conversion, or enough space to extend into the garden should take the leap if it means they can increase the number of bedrooms or bathrooms, add a study, or make the living space bigger.
Other ways to increase the value is to install a new kitchen. Realtor at Sotheby’s International-Montecito said even modernising countertops and cabinetry “can provide significant ROI”.
This is also true for making cosmetic updates in the bathroom, as it makes the property look more attractive than if it appears outdated and in need of repair.
A renovation job that is not worth doing, however, is building a conservatory. Vince Courtney, chief sales officer at Purple Bricks, said conservatories look dated, are not energy-efficient, and not appealing to homebuyers who want open-plan spaces.
Instead of fitting a conservatory, consider a house extension in Telford, such as opening up the kitchen-diner into the garden or going into the loft.