Interest rates, the cost of living and speculation about what exactly will happen to the housing market in 2023 means many would-be sellers are choosing to wait and see before putting their homes up for sale. If you’re one of them, you might be wondering how you can add value to your property and make it a more enticing prospect. Here are three key renovations to consider if you want to boost value and attract today’s buyers.
Loft conversions bring significant space, with at least one extra bedroom and bathroom. It’s reckoned that this renovation will add around 24% to the asking price of a London home. If you are thinking of a conversion to add value, rather than for your own needs, do plenty of research into the selling price of homes in your area with that extra bedroom, and make sure you don’t overspend.
Since the Covid-19 pandemic brought an explosion in home working, office space has been a key demand from buyers. If your home has limited space for an office – and you have a reasonably-sized garden – a home working outbuilding is a great choice. Garden offices give you a dedicated workspace and can be constructed with minimal disruption to the home. They are estimated to add more than 10% to the value of London properties.
Bathrooms with the wow factor really do grab buyers’ attention. Constructing an additional walk-in ensuite is very much on-trend this year, particularly with older buyers from the baby boomer or gen x cohorts. Adding an extra ensuite could boost your home’s value by 5%.
Read more on the Estate Agent Today website.
Buying and selling at the same time?
Here are 10 things that could go wrong, and often do go wrong, and what, if anything, you can do to avoid them.
Buying and selling at the same time?
Here are 10 things that could go wrong, and often do go wrong, and what, if anything, you can do to avoid them.
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