Adding value to your property

With fierce competition in both property sales and rentals, it’s advisable to think about how you can make your property stand out in this overcrowded marketplace.

Supply is currently outstripping demand by some considerable margin, and the only way to maximise the return on your property investment is by adding value.

At a glance it might not seem sound advice to spend a significant amount of money on your property when you intend to sell or rent, however, it is a proven fact that certain things will add value and are worth the effort and expense.

Even if you’re on a tight budget, don’t just leave your property as it is. There are things you can do which will help you achieve your asking price, whether selling or renting.

Take a look at our top 10 tips and see how you can make the most out of your property.

First, the obvious one, extend your property. Though a drastic option, enlarging your property from, say, a three bed to a four bed, will move your property up into the next price bracket for rentals and sales.

Adding a conservatory will make your property stand out from the crowd, and increase its value.

Creating a mezzanine could achieve an additional bedroom and en-suite, again pushing your property up to the next price bracket.

Install a new kitchen and bathroom. The majority of buyers prefer to have this done beforehand, but keep it simple, fresh and clean. With neutral colour schemes, it will appeal to a larger audience.

Divide one large room into two smaller rooms, creating that additional bedroom or study.

Maximise your outdoor space, use decking and terracing to create additional living zones.

Adding a ‘garden’ room, which can be used as an office or utility room, will add another dimension to your property, creating greater appeal.

Consider adding environmentally friendly items such as insulation or solar hot water. They make a difference to prospective buyers, providing lower running costs to sway their decision.

If not in place, double glazing is a must. Without it, you will detract from your properties value.

Ensure your property has some form of heating and air-conditioning. As above, a must.

Finally, make sure you show your property in its best light, ensuring it is clean, tidy and well-groomed with a fresh coat of paint.

By Brett Hawkins
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Brett Hawkins is the managing director of GMT 24:7, a local expert in all areas of general building and property maintenance, with offices in Lagos and Almancil. |