As the UK property market remains buoyant, even in the face of global financial turbulence, the phrase ‘it’s a seller’s market’ has never been more pertinent.
In fact, according to investment company RWinvest, the property market is one of the top
opportunities to secure passive income in 2022, owing to enormous tenant demand and steadily
rising price growth.
That said, it would be folly for homeowners to simply sit on their hands and rest on their laurels, hoping that luck will find them the best possible price for their property. Instead, there are several steps you can take to make your property stand out and be sale ready.
Today, we’ve spoken to premium home interiors brand Neville Johnson, who work closely with leading property experts to curate stunning home decor and lucrative returns on investment, alongside property experts Foxtons, to reveal the five renovations that could add value to a home.
With over 35 years’ experience in creating made-to-measure homes, Neville Johnson knows a thing or two about getting the best out of a home. Here, they consider, in particular, the power of rethinking and repurposing spaces, including how a well organised, open space will add instant appeal to a buyer.
Mal Shaw, Sales Director at Neville Johnson, tells us that, “Selling your property can be one of the most exciting times in a homeowner’s life, but it can also be a stressful one. We hope that our new step-by-step guide will serve as a useful resource for homeowners looking to carry out desirable home renovations ahead of selling their properties.”
With all that in mind and without further ado, here are a few highlights from that guide; these 5 home renovations to increase your property’s value in 2022.
Stairway To Heaven: Staircases
Although often overlooked, the staircase is typically the first thing you see when you walk into a home. Because of this immediate visual impact, it can be a dominant part of your décor and has the potential to create an impeccable first impression on visitors.
According to commentary from Foxtons, the property experts report that when hosting viewings, the potential buyer will make up their mind on the property within the first 30 seconds of walking into the home, so a hallway with a well purposed staircase is a key element to when creating an impact.
And if you’re lucky enough to have an expansive ground floor with an open-plan living room, you might even benefit from a spiral staircase. Check out some convincing reasons to install one here.
Clever Storage: Fitted Wardrobes
At a time when homeowners are putting a premium on space, fitted bedroom furniture is sure to help add value to the property by offering smart, functional storage solutions.
A buyer expects to see clever storage solutions in properties of all sizes, especially as new home developments from national house builders are providing excellent storage solutions as standard, setting a new benchmark for buyers.
In traditional properties, fitted wardrobes can be a great solution for maximising storage options while still being sympathetic to original features. On the flip side, in more modern properties, bold styling choices stand out.
Think even bigger with your smart storage additions. Floor to ceiling bespoke shelving, and neat, vertical cupboards are both great ways to maximise space in a compact room, too. More streamlined than freestanding storage, built-in furniture designed specifically for its room helps to put every single centimetre of space to use.
Read: 5 IDEAL ways to add more storage space to your home
A Study In Chic: Multifunctional Studies
Having a multi-functional study space has historically added value to a property, offering the prospective buyer flexibility and the chance to imprint their own personality on a place soon after moving in.
Such rooms have become even more valuable since the pandemic began, as new working trends mean people need their homes to double up as office spaces.
A bespoke study or home office space is of course a massive asset to a home these days and could be said to rival the bedroom that it might be replacing in terms of adding value.
Read: How to get the most from your budget property renovation in 2022
Dressed For Success: Dressing Rooms
A fitted dressing room can make people fall in love with a house, calling to mind a sense both of opulence and of convenience, which is the perfect marriage for the modern homeowner, don’t you think?
The popularity of dressing rooms is part of a resurgence in focusing on adult spaces in the home, away from the mayhem and madness of shared living spaces like the lounge and kitchen.
A master bedroom with dressing room and ensuite adds huge value to a property, with buyers willing to fork out on a dedicated space for pampering. In fact, according to the Daily Record, adding an ensuite can add £10’000 worth of value to your home, whilst a dressing room or walk-in wardrobe could bring an additional £7’500 when you’re looking to sell up and move on.
A Whole New World: Home Libraries
As more of us are now working from home, it has never been more important to have a space that we can use to escape from home-working life.
Yep, we realise that requiring a getaway space within your home is a little perverse, but that just goes to show just how much life has changed over the past two years.
During that time, we have seen a huge increase in home library projects. Depending on the style of the property, a traditional library, complete with mullions, skirting and cornicing or a contemporary library with shelf lighting and seamless doors, can be a real focal point, adding a real sense of quality and, subsequently, value to the home.
Ryan Ninnis from Foxtons suggests, “presenting a stylish, well designed, and functional home to buyers is a key way to differentiate and sell your property quickly. We regularly see increases in value of 15-20% for owners who have made home improvements that appeal to the demands of the local market.”
And hey, even if you don’t have the spare room for a home library, you can still create a reading nook in even the smallest of spaces to bring that escapist vibe to life.
The Bottom Line
The property market has never been more competitive, and now is the time for sellers to make the most of their assets.
We hope these 5 steps on adding value to your property showcases help you find the home improvement idea to suit both your needs and budget. Good luck!