The main focus for any property investment is to increase its resale value, bringing a higher return on investment: Homeowners want their properties to be worth more than when they initially bought it.
There are several great ways to ensure that this is the case, ranging from expensive structural changes to minor improvements that make a big difference.
To help give you an idea of how you can increase your house valuation, we’ve gathered a list of 5 simple changes you can make that will skyrocket the value of your home.
5 ways to increase your London house valuation
Invest in a bespoke kitchen
For many buyers, having a nice kitchen is their main focus. This is because the kitchen is usually one of the main social and family areas in a home and should therefore be stylish yet practical. Investing in a bespoke kitchen ensures that all space is utilised and that it’s built to withstand the wear of daily life.
According to the Royal Institution of Chartered Surveyors (RICS), having a new kitchen can increase your house valuation by up to 4% which makes it a sound investment.
Consider upgrading to wooden flooring
Wooden flooring is in high demand because of its durability and the luxurious feel it brings to any room. However, at an average of £20 – £40 per square metre, it can be costly to replace the flooring in your home with high quality hardwood – a reason that many homeowners opt for lower cost options such as soft wood or tile.
Nonetheless, a study conducted by the National Association of Realtors found that buyers are willing to pay more for properties with hardwood flooring. Furthermore, the Flooring Association also found that the overall value of a property can be increased by 1 -10% just by upgrading from carpet to wood floors.
Get an luxurious bathroom
Another way to improve your house valuation is to update your standard bathroom to a luxurious bathroom. Most people prefer to invest in a bespoke bathroom suite because of their durability and custom layout; however, minor changes can also make a huge difference aesthetically.
Although this can be expensive initially, having a modern and sophisticated bathroom can increase the value of your property by between 3 and 5%.
Be creative with lighting
Getting creative with lighting can not only create different atmospheres in a room, but can also lead to rooms feeling and appearing more spacious and open plan. Modern lighting aspects, such as LED strip lighting underneath cupboards or oversized floor lamps, can add a modern and chic twist to any room.
Also, try to let ensure your property has as much natural light as possible by opting for larger windows or patio doors and not blocking any windows with furniture. Natural lighting alone can increase the value of a London property by a few hundred pounds.
Add curb and garden appeal
Garden space is extremely limited in London, so if you’re lucky enough to have it, don’t be afraid to make the most of it. Adding a selection of bright flowers, laying down decking or adding an outdoor seating area are just a few things that can really bring your garden to life.
First impressions are essential when it comes to selling your property, so having a well-kept garden improves the possibility of a quick sale, whilst adding up to 10% to the value of your home.
What are your thoughts on our 5 step guide to increasing a London house valuation?
We hope you’ve got a few more ideas about how you can increase your home’s value, but feel free to leave a comment and let us know if you think there’s anything we’ve missed! We’d love to hear your thoughts. Why not share these tips with your friends and family?