{"id":2953,"date":"2022-01-26T04:44:27","date_gmt":"2022-01-26T04:44:27","guid":{"rendered":"https:\/\/www.yopa.co.uk\/homeowners-hub\/?p=2953"},"modified":"2022-01-24T16:44:41","modified_gmt":"2022-01-24T16:44:41","slug":"how-to-make-your-home-more-valuable","status":"publish","type":"post","link":"https:\/\/dy36.stage.yopa-dev.co.uk\/homeowners-hub\/how-to-make-your-home-more-valuable\/","title":{"rendered":"How to make your home more valuable"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\">For the vast\nmajority of us, our homes will be the most expensive asset that we own and in\n2021, we saw a bumper year for house price growth. <\/p>\n\n\n\n<p class=\"wp-block-paragraph\">This was thanks\nin large part to the extension to the stamp duty holiday, a continued shortage\nof homes available on the market versus buyer demand, and the changing\npreferences of buyers in the wake of the Covid-19 pandemic. Predictions of a\nhouse price crash once the temporary stamp duty rates ended on 30 September\n2021 appear to have been unfounded, with the demand for properties continuing\nto outstrip supply and keeping house prices buoyant. As of November 2021, the\naverage house price was \u00a3270,708 and for 2022 and beyond, many industry\ninsiders point to a steady, albeit less pronounced house price growth. <\/p>\n\n\n\n<p class=\"wp-block-paragraph\">However, with\nthe costs of living rising at their <a href=\"https:\/\/www.bbc.co.uk\/news\/business-60050699\">fastest rate<\/a>\n(5.4%) in nearly 30 years, it makes sense to future-proof as much as we can and\ntreat all of our investments wisely, and that includes our homes. <\/p>\n\n\n\n<p class=\"wp-block-paragraph\">So, how do we\nensure that we retain, or even increase the value in our properties?\nConversely, are there any pitfalls to avoid so we don\u2019t inadvertently <em>decrease<\/em>\nthe value of our homes? <\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Below are our top\nsuggestions for making your home more valuable, and some property renovations which\ncan actually end up having the opposite effect.&nbsp;\n<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Tips to make your home more valuable<\/strong><\/h3>\n\n\n\n<ul class=\"wp-block-list\"><li><strong>Undertake\na<\/strong> <strong>structural MOT<\/strong>.\nAlthough you will always want to ensure that your house is structurally sound\nregardless of whether or not you are planning to sell, according to the <a href=\"https:\/\/hoa.org.uk\/advice\/guides-for-homeowners\/i-am-selling\/top-tips-how-to-make-your-home-more-saleable-and-valuable\/\">Home Owners Alliance<\/a> a significant 71% of new buyers are\nlooking for well-maintained windows and 68% are checking out the condition of\nyour roof when they visit, so it pays to make sure everything is in working\norder prior to selling. If you had a comprehensive <a href=\"https:\/\/www.yopa.co.uk\/homeowners-hub\/what-do-surveyors-look-for-during-a-house-survey\/\">survey<\/a> undertaken when you bought your home, refer back to the survey\nreport. Most will include a traffic light system highlighting the priority of\nany work needed so there may be issues which need your attention now, even if\nthey were not deemed a priority at the time. You can request a visit from a\nqualified surveyor at any time and if you have particular areas of concern, you\ncan also request a defect report rather than a full structural survey which is\nmore cost effective and will focus on just one issue. If you bought a new-build\nproperty, it is important to make sure you keep an eye on any issues which have\ncropped up once you have lived in the house for 12 months or more. Make sure\nyou follow these up within the 6 or 10-year window of your architect\u2019s\ncertificate \u2013 which is the warranty you should have received when you purchased\nthe house that covers you against any structural issues for the stated time\nperiod. <\/li><\/ul>\n\n\n\n<ul class=\"wp-block-list\"><li>Consider\n<strong>energy efficient upgrades. <\/strong>This can be an easy way to add value and\nattract buyers, particularly in the climate conscious world we now live in.From\nsmall adjustments like installing energy efficient light fittings and tackling\ndrafty doors and windows to splurging a bit on a new boiler, any tweaks you\nmake can all add up to push you up the scale on your <a href=\"https:\/\/www.yopa.co.uk\/homeowners-hub\/how-much-is-an-epc\/\">EPC rating<\/a> and add around <a href=\"https:\/\/www.moneysupermarket.com\/gas-and-electricity\/value-of-efficiency\/\">14%<\/a> in value to your home. Although very energy efficient,solar\npanelsare best avoided for a home you won\u2019t be staying in since they can\nbe both costly to install and contentious when it comes to the aesthetics. <\/li><\/ul>\n\n\n\n<ul class=\"wp-block-list\"><li>Refresh<strong>\ninterior and exterior paintwork<\/strong>. This is a very cost-effective way to make\na big impact, particularly when it comes time to put your home on the market.\nKerb appeal is crucial when it comes to selling houses and fresh paintwork, coupled\nwith a tidy, landscaped front garden and well-maintained front doors and\nwindows can add 2-3% to the overall price of your property, and clinch the sale\nin the first place! <\/li><\/ul>\n\n\n\n<ul class=\"wp-block-list\"><li><strong>Update\nyour<\/strong> <strong>bathrooms<\/strong>. Whilst\npersonal taste is completely subjective and you don\u2019t want to waste money on a\ncompletely new bathroom for a property you won\u2019t be living in, the bathrooms can\nhave a massive impact when it comes to selling your property. Retiling or even\na simple regrout and replacing old shower seals can make your bathroom look\nlike new and a few decorative touches like matching towels and a new mirror can\nwork wonders. If you have the space, such as understairs cupboard or large\nporch area, adding a downstairs toilet can also be a massive selling point to young\nfamilies or more mature buyers, or anyone who doesn\u2019t want their visitors\ntraipsing upstairs to use the loo! The cost is not prohibitive either, with a\nsmall cloakroom costing around \u00a31,500 and adding an impressive <a href=\"https:\/\/hoa.org.uk\/advice\/guides-for-homeowners\/i-am-improving\/how-to-add-value-to-your-home\/\">\u00a326,000<\/a> to the value. &nbsp;<\/li><\/ul>\n\n\n\n<ul class=\"wp-block-list\"><li><strong>Convert unused space. <\/strong>For homeowners with a driveway and on-street parking, a garage conversion could add up to 15% to your home\u2019s value and be a cost-effective alternative to an extension, often falling under permitted development rights \u2013 although obviously check with your local planning authority before you get the builders in! Cellar and loft conversions are also popular ways of utilising existing unused space and an additional bedroom and ensuite can add anywhere from 15% &#8211; 30%. However, they can be more costly (for instance if you need to lower the floor of your existing cellar or raise your roof height to meet planning regulations) or actually eat into your existing bedroom space depending on where your loft staircase is located. <\/li><\/ul>\n\n\n\n<figure class=\"wp-block-image\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"682\" src=\"https:\/\/yopa-production-wordpress-content.s3.eu-west-1.amazonaws.com\/homeowners-hub\/uploads\/2022\/01\/converted-driveway-1024x682.jpg\" alt=\"\" class=\"wp-image-2955\" srcset=\"https:\/\/cdn.yopacrm.yopa.co.uk\/homeowners-hub\/uploads\/2022\/01\/converted-driveway-1024x682.jpg 1024w, https:\/\/cdn.yopacrm.yopa.co.uk\/homeowners-hub\/uploads\/2022\/01\/converted-driveway-300x200.jpg 300w, https:\/\/cdn.yopacrm.yopa.co.uk\/homeowners-hub\/uploads\/2022\/01\/converted-driveway-768x512.jpg 768w, https:\/\/cdn.yopacrm.yopa.co.uk\/homeowners-hub\/uploads\/2022\/01\/converted-driveway-50x33.jpg 50w, https:\/\/cdn.yopacrm.yopa.co.uk\/homeowners-hub\/uploads\/2022\/01\/converted-driveway-1500x1000.jpg 1500w, https:\/\/cdn.yopacrm.yopa.co.uk\/homeowners-hub\/uploads\/2022\/01\/converted-driveway.jpg 2000w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\"><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>When it\ncomes to home renovations, approach the following areas with caution to avoid\nactually <em>losing<\/em> value in your property.<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\"><li><strong>Removing\nperiod features<\/strong> \u2013 A\nrecent study has shown that removing popular period features such as a\ntraditional fireplace, beams or cornicing or replacing wooden windows with UPVC\ncan reduce your property\u2019s value by an <a href=\"https:\/\/www.bbc.co.uk\/news\/business-60050699\">eye-watering 10%<\/a>.\n<\/li><\/ul>\n\n\n\n<ul class=\"wp-block-list\"><li><strong>Going\nopen plan \u2013 <\/strong>Pre\npandemic, homeowners were pulling down walls right, left and centre to create\nlarge, open spaces for the family to enjoy. In the era of home working and\nlockdown togetherness and with multi-generational living on the rise, demand\nhas <a href=\"https:\/\/www.propertywire.com\/news\/open-floor-plans-less-popular-after-coronavirus\/\">fallen<\/a> for open plan space in favour of separate office and\nliving areas. As such, consider flexible options like bi-fold doors and\nmulti-functional layouts which mean you can get the most out of your\nspace.&nbsp;&nbsp; &nbsp;<\/li><\/ul>\n\n\n\n<ul class=\"wp-block-list\"><li><strong>Installing\na brand-new kitchen \u2013 <\/strong>Whilst\nkitchens are one of thefirst rooms prospective buyers look at when they\nwalk into a new home, with an average price tag of around \u00a38,000 (and that\u2019s\nbefore you factor in new white goods, removing previous units or any plastering\nand redecorating) installing a brand-new kitchen just to sell your home is\nunlikely to bring a return on the money you have invested. As noted above, a\nfresh lick of paint can work wonders and if your units are still serviceable\nbut a little tired there are many <a href=\"https:\/\/www.kitchendoorworkshop.co.uk\/\">companies<\/a> which supply new cupboard doors to fit\nyour existing units for a much more reasonable fee. Tweaking the layout can\nalso really appeal to potential buyers. Indeed, studies have shown that\nchanging your kitchen layout to allow space for both cooking and dining can add\naround 15% to the cost of your house, often more than a costly loft conversion.<\/li><\/ul>\n\n\n\n<ul class=\"wp-block-list\"><li><strong>Sacrificing\na bedroom \u2013 <\/strong>Whilst the\nidea of a spacious master suite or a walk-in wardrobe may seem tempting,\nsacrificing a smaller bedroom to create more space elsewhere can be costly when\nit comes to reselling your property. According to <a href=\"https:\/\/www.rightmove.co.uk\/news\/articles\/property-news\/cost-moving-up-property-ladder\">Rightmove<\/a>, UK buyers are paying an average of\n\u00a368,000 to trade up from a two to three bedroom property, an increase of \u00a34,000\nin the last 12 months. <\/li><\/ul>\n\n\n\n<ul class=\"wp-block-list\"><li><strong>Costly\ncustomisation \u2013 <\/strong>If you\nare living in your forever home (congratulations!) then your only concern is\nhow the house works for you and not any future buyers. If you know that you are\nlikely to move in 10-15 years, then installing costly features like a swimming\npool, heavily landscaped garden or a wine cellar are very unlikely to bring you\na return on your investment since they cost thousands to install and maintain.\nThey may also bring fewer potential buyers through the door given that these\nkinds of modifications are very much down to personal taste and can be costly\nto remove.&nbsp; <\/li><\/ul>\n","protected":false},"excerpt":{"rendered":"<p>For the vast majority of us, our homes will be the most expensive asset that we own and in 2021, we saw a bumper year for house price growth. This was thanks in large part to the extension to the stamp duty holiday, a continued shortage of homes available on the market versus buyer demand,<\/p>\n","protected":false},"author":4,"featured_media":2954,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[6,2],"tags":[],"class_list":["post-2953","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-home-improvements","category-selling"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.7 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>How to make your home more valuable - Yopa Homeowners Hub<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/dy36.stage.yopa-dev.co.uk\/homeowners-hub\/how-to-make-your-home-more-valuable\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"How to make your home more valuable - Yopa Homeowners Hub\" \/>\n<meta property=\"og:description\" content=\"For the vast majority of us, our homes will be the most expensive asset that we own and in 2021, we saw a bumper year for house price growth. 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