- Check the best mortgage deals
- Pryor on property: news and views One of the ways of making the most money from your home is to make it attractive to buyers. Remember that if you don't keep your property up to date any buyer will be thinking of how much it will cost to make the improvements and drop their offer accordingly.
Some improvements are worth spending money on and can add value to your home. Other work may actually cost more than the value it adds or positively detract from the price.
Some do's and don'ts
- Do try to spend money on making the crucial kitchen area appealing to potential buyers.
- Do spend some money on a nice front door. Most people make a decision before they even go inside.
- Do invest in central heating. It costs about £2,000 for the average three-bedroomed home.
- Do install a fully-fitted bathroom. You can have the full monty, for £1,000 upwards. Spend the most you can afford. Keep the room classic white and don't go for anything faddy.
- Consider a conservatory. A good one will add five per cent to the value of your home. They cost from £10,000 but are real investments - especially if you sell your home in summer.
- Do fit a security system. Crime is on everyone's mind and burglaries are on the increase all over Britain. Spend around £500.
- Do plant shrubs. By tidying up your borders and adding a splash of colour you can add £1,000 to the value.
- Don't skimp on the bathroom and don't use any colour scheme except classic white.
- Don't over-decorate. Stick to neutral colours - less is more.
- Don't clutter your rooms. It can make your home look small and dark. Even if you like clutter potential buyers won't pack away as much as you can while you are selling.
- Don't have stone cladding. It is expensive and will put off buyers.
- Don't attempt any jobs yourself unless you are a DIY whizzkid. Bodged jobs are a big turn-off to prospective buyers.
- Don't have UPVC double glazing if you have an old home. As a general rule it is best not to double glaze any house built before the turn of the century.
- Don't spend vast amounts of money on carpets and curtains. People's tastes are different.
- Don't put in a swimming pool. They cost around £15,000 plus £500 a year to maintain. They put buyers with young children off. Pools only add value to houses worth £300,000 or more in areas where other houses have pools. Put one in a house worth less than this and you will lose the money you paid for the pool as well as reducing the asking price.
And if you need a loan to help pay for your home improvements then check out the best value deals with our loan finder.
Back to the Mortgage guide index
Previous page : Next page
