Signs show the housing market has reached its peak — so how can you get the most value for your property here and now?
It’s a seller’s market as of late, with buyers competing over homes in the most sought-after areas of the country. And the recent rise in demand hasn’t been matched by a flood of new properties on the market, keeping prices high in the coming months.
In this article, we explore ways you can make your home more attractive to buyers during a peak period, so you can maximise the value of your property. Read on.
Extend the layout of your kitchen
The kitchen is the heart of the house. It’s the engine of any home and the place where friends and family gather. As such, a space capable of entertaining and holding the odd soiree is one of the key factors buyers consider when looking around your property.
Is your kitchen lacking the space for gatherings and dinner parties? Well, this could be affecting the value of your home, even during peak periods. Research from Ideal Home suggests that a kitchen lacking in size (and features) can devalue property by £20,000.
On the other hand, investing in a new kitchen could add 10% to the value of your home when the time comes to sell. That is, so long as you have a clear understanding of what buyers are looking for. So here are some amenities homebuyers want most from your kitchen:
Open concept. Your kitchen doesn’t need to be massive, but it does need to be efficient. Open concept is a great way to create the illusion of space by removing unnecessary barriers and walls. If you have room, fit a breakfast bar — they’re a huge hit.
Clever storage. Smart storage is the pinnacle of interior design. And your kitchen is no exception. Providing lots of space to keep utensils in convenient, easy-to-reach spots is a must. Buyers like deep drawers and open shelving.
Lighting. Think dramatic skylights and illuminated cabinets. Buyers love a well-lit kitchen. Why? Because it makes the room more functional and brightens the mood. After all, nobody wants to cater or socialise in the dark.
Get your garden into shape
Some buyers won’t consider purchasing a property without a garden.
Following the pandemic, better outdoor spaces are top of the wishlist for many buyers looking for a forever home. This means getting your garden into shape and presenting it as a sanctuary for relaxation to make your property more valuable.
The value of your garden depends on the location of your property. For instance, in urban areas like London, garden space is rare and comes at a premium; in suburban areas where gardens are more common, then size, presentation, and unique features determine value.
That said, the difference-maker is how well you care for your garden and how ready it is to hand over to a new buyer. The better shape your garden is in, the more value it adds, regardless of location. But you don’t have to be a professional plantsman. Instead, a basic understanding of gardening can help get your garden prepared for the buyer’s new vision.
For example, dry clay soil is a common issue that can put prospective buyers off from making a bid on your property. It stops natural drainage so the garden becomes easily waterlogged, plus it’s extremely unfertile, making it difficult for plants to survive. The solution is to apply an organic conditioner to turn the hard clay formation into loose soil, thereby preparing your garden for new buyers and warding off any potential worries they might have.
Create extra space for a home office
In a post-pandemic world, flexible hybrid work is now the norm for many professionals on the market. This means buyers have a new demand on their checklist — the home office.
Converting the loft or even the garage into a home office space is another great tip to help get more value from your home in the current market. Many buyers are looking for a property with space that allows them to work comfortably from home, as well as rest and play. Your house has to do it all, so if your home lacks a spare bedroom, for example, converting an unused space into a functional home office can help make up for this fact.
Moreover, establishing a home office in your garden is also a popular trend that can add value to your home. Recent research from The Motley Fool indicates that garden rooms such as an outdoor office add around 5% to the value of the property. This is because buyers are looking to have a degree of separation between work and play for a better work-life balance, particularly now hybrid work is the norm.
Conduct a deep clean
A clean home adds value to your property when trying to sell. It’s a small factor on paper but means the world when prospective buyers take a tour of your property. After all, we never imagine our dream home cloaked in dust with mystery crumbs trapped under the sofa.
Prospective buyers often need to feel a home is ready to move into, especially if they are paying full price during peak periods. So ensuring your home is spotless for viewing casts your property in a positive light, helping buyers imagine living there. Long-standing research by Rightmove (and published in The Guardian) show that bad odours alongside dirty bathrooms and kitchens are among the biggest buyer turn-offs.
When selling a property, you likely want the job done right — an expectation that likely means hiring professionals to conduct a deep and thorough clean of your home. After all, the refreshing results from a professional clean are hard to replicate by yourself. From brushing down dirty old carpets to hard to reach parts of the oven, the pros don’t miss a spot.
If you are looking for ways to maximise the sale of your home, discover the value of staging and styling with Fine & Country Property Staging. If you are ready to sell your home or would like an expert's insight into which home improvements will best benefit your property sale, get in touch with your local Fine & Country agent today.