How To Improve Your Property For The Purposes Of Valuation
Feb 8, 2024
Valuing a property is an important step when owning a home. Whether you’re looking to tweak your agreement with the lender or sell the property, here are some tips to help improve your property for the purposes of valuation.
First impressions count
When it comes to selling a property and putting it on the market, it’s crucial that you’re making those first impressions count. It can be the difference between getting potential buyers through your doors or having them head to another property instead.
Even a bit of clutter in a room or a scuffed wall can make a place look unkept and even if you’ve kept the place in good condition, that first impression is all that’s needed to put someone off.
Many buyers will be fickle when it comes to searching for properties and what they see at first glance, although perhaps not something that should sway a buyer away, might well be enough for them to turn their heads and buy elsewhere.
10 tips to improve your property and increase its value
If you’re looking to improve the property for the purposes of a valuation, then there are a number of tips to improve it. With that in mind, here are ten ways to get started and hopefully boost the value of your property.
1. Add an extension
A great way to boost your property’s value and perhaps one of the biggest influences, is to add an extension. It’s not always possible for some properties but if you’ve got the planning permissions and the space to do so, then you might definitely want to add an extension to the space.
This is a useful way of maximizing the space that you have available on your property but perhaps hasn’t been utilized yet. When it comes to adding an extension, there are certain rooms that will prove more useful to add to the property than others. For example, it’s worth adding on a bedroom or bathroom rather than an extra reception space or expanding the kitchen.
However, you want to make more of your property not only for sale but for you. You might not want to move just yet and instead are simply curious about a valuation. Think about what you want to do with your existing space and how best to make the most of it. Of course, it’s important to assess your budget and to know what you can afford too!
2. Convert your loft space
The loft space is an existing space that’s not often utilized when it comes to expanding a home. For valuation, it’s another space that if you’re willing to update or make changes to it to improve and make it habitable, will increase the price your home is worth.
While it might not always be the easiest space to get to, there are engineering feats when it comes to home design that make it more accessible nowadays.
Loft conversions are a lot more affordable than adding on an extension because the room already exists. There’s also a lot that you can do with a loft space, whether that’s creating an extra bedroom or incorporating it into a study space that doubles up as a guest room.
There are some limitations to loft conversions, especially when it comes to natural lighting and the setup to get in and out of the loft easily. It might be worth working with a design specialist who is experienced when it comes to creating rooms in loft spaces.
3. Declutter the home
Your home should feel spacious, regardless of how big or small of a property you have. However, one challenge that many homeowners face is the amount of clutter that they have and hold onto.
While clutter doesn’t impact the valuation of your home, it can certainly cloud judgment when it comes to getting the property valued. If you’re looking to sell your home off the back of the valuation, then it’s good practice to keep your home free of clutter so that it’s much easier to sell when it comes around to getting it sold.
If you struggle with clutter, then try to ask yourself a number of questions before buying more things for the home. Make sure to take a regular walk around your home to tidy up and clear out any drawers or cupboards that might be harboring clutter you don’t know about. It’s usually found in those places you’ve forgotten about.
4. Fix any minor problems
When it comes to updating your property for the purpose of valuation, it’s good to focus on the minor problems. These are the little areas of damage that might diminish the room itself and cause the surveyor to mark down the price as a result. The better the condition your home has been kept in, the higher it’s going to be valued.
As the months and years go by while living in the property, do pay attention to any damages that have been caused. Try to fix any minor problems in order to stay on top of the overall condition of the home. Ultimately, you do have influence over the value of your property, rather than it just being about the local area you live in and the general state that the housing market is in.
Whether it’s a furnace repair or fixing a leaking tap, it’s helpful to do all of this before the surveyor comes in.
5. Upgrade fixtures and furnishings
Furnishings and fixtures should be upgraded and modernized where possible. While some people like a rustic home, we live in a modern world where the demands of a household nowadays are up there.
It’s definitely worth looking at replacing plug sockets with smart phones that have USB ports available. Replacing worn or tired white goods or broken tiles in the bathroom are just a few changes that can make a real difference to the value of the home based on its condition.
Take note of all the furnishings or fixtures that still need to be updated or haven’t been looked after in a while. Even if you moved into the home when it was brand new, that doesn’t mean it’ll become worn and tired over the years. Focus on improving the areas that really need your attention and you’ll find that the overall look of your home is a lot more desirable.
6. Focus on curb appeal
Curb appeal – it’s one thing that most homeowners will forget about, despite it being the first thing you see when you arrive on the property. Improving the home’s curb appeal reflects the valuation of your property. Is the driveaway amicable for a number of cars to park there? Does the garden have plenty of visible space or is it overgrown and needing a cut back?
The curb appeal of your property is individual to each home but it’s something that can really make or break the price you’re after when it revaluing your property.
7. Increase storage
Storage is an important one and it’s something that many forget to prioritize when it comes to improving a property. While surveyors are able to see past the clutter, it’s always good to help make their job easier by getting rid of all the excess clutter on the floors or in places where it shouldn’t be.
Increasing your storage options is worthwhile and it’s something that you want to consider carefully. There are plenty of generic storage plastic boxes that you could get for bits and bobs. However, if you’re looking for something more stylish, then you could always look at getting
8. Give everything a new lick of paint
A new lick of paint makes a world of difference to the look of your home. Even if you don’t think it needs it, go around the entirety of the house and give the walls a fresh coat of paint or two. It resets the spaces and makes them feel fresh and brand new.
You might want to pick out a new color or even go a bit further with some wallpaper. Wallpaper is a little more challenging, so it’s good to know that this might be a choice you avoid if you don’t want the hassle.
9. Replace any old or worn flooring
Old or worn flooring can look a little unsightly but can also become a hazard depending on the material. For example, carpet and other less durable materials on the floor can gather and cause a tripping hazard for those walking on it. Wooden floors are susceptible to becoming scuffed, so it’s good to rebuff these types of flooring where possible.
10. Add technology into the home
Finally, be sure to incorporate some technology where you can. When it comes to your home, adding technology is a good way to boost the property’s value, especially with the likes of solar panels, for example.
With technology added to the space, it makes it a more valuable property for those who are looking for something modern that they can move into straight away. It’s not only beneficial for the purpose of valuations but it’s also good for selling too.
Consider these tips when you’re looking to improve your property for the purpose of valuation this year.