I've got a leasehold on a nice one-bedroom ground floor flat in a London cul-de-sac and I'm looking for ways to push the value up. Any particular home-improvement nuggets I should be aware of? Suggestions with estimated costs especially welcome.How do increase the value of my flat?
Hi!
You will need to provide the most modern, fresh, open, clean look you can - as cheaply as you can.
Firstly, have a look at other flats in your area (go to www.primelocation.co.uk and www.findaproperty.com) and look at the top selling price for a 1-bed flat like yours. What have they got that you haven't? New-builds and flats near to tube stations and shops may be sold for more than yours no matter what you do - but there are still definitely things you can do to reach a higher selling price:
KITCHEN = The most important room, many would say. If your kitchen is more than 5 years old, or a dark wooden style, consider updating it. This can be much cheaper than you think. I replaced a kitchen in a house I developed for only 拢200! You can simply replace the worksurface granite-like one. You could just replace the cupboard doors and drawer fronts; or paint them. Or, you could buy a cheap kitchen and replace your old one. Most of them throw in a free appliance, such as a cooker, these days, so take advantage of this. Buyers are put off by dirty old appliances. Choose a light colour for your kitchen, such as white or maple. Whilst high-laquered black or red kitchens are very chic, there is no point spending your money on this and they are highly individual. You want to appeal to your widest market, even if you feel it looks bland.
BATHROOM - make sure it is VERY clean. Health department clean! White walls are the best way to go. If you have old or bright tiles you may wish to consider replacing these, or painting with a specifically-designed tile paint. Buy a new shower curtain or glass screen, if your shower is over the bath. You can also buy white grout pens to brighten up the gaps between the tiles.
DE-CLUTTER - this the one thing you should do, even if you decide not to decorate. It doesn't mean shove everything into your hallway cupboard. Take down all personal pictures - the only ones left should be modern art work or black and white prints. Pictures that show your individual tastes like huge paintings of tigers, motorbikes or hawaiian girls can put people off. In the bathroom, clear ALL cosmetics, including toothbrush, etc and hide them whilst you are showing people around. It may sound extreme, but the bathroom is the one place buyers need to imagine that nobody's lived before. Try placing a few unlit, scented candles in a modern colour such as grey, cream and brown and perhaps a purpose-bought, unopened attractive bottle of bubble bath in a similar colour.
FURNITURE - consider putting some of this into storage if you have a lot of it. As long as you keep the essentials (e.g. one sofa in the lounge, coffee table, dining table/breakfast bar, double bed, wardrobes) it shouldn't look too sparse. You don't want the buyer to come in and feel that they won't have space for their furniture. If your furniture is out of date (i.e. divan beds, wooden bar stools, 80s/90s sofa) consider renting furniture for a short time. It's surprisingly cheap and makes all the difference.
DECOR - you need to think neutrals. Pastel colours like lemon, sky blue, pink and (worst of all) peach may seem neutral as they are pale, but believe me - they will put some people off (myself included)! Bright colours like red, blue, purple, etc may seem very Ikea, young and trendy, but again, it can put some people off. Neutrals like white, beige, mocha and light grey are all good choices. However - you need to make sure you accessorise your rooms well. Choose modern vases, flowers, unlit candles, boxes, picture frames, rugs, cushions etc in modern or bright colours such as black, red, fuschia, or brown to add interest.
REPAIRS - if you have ANYTHING from a broken fire alarm, dodgy heater or even a chipped bathroom tile sort it out now.
CARPETS - wooden laminate flooring is inexpensive and modern. If you cannot have wooden flooring due to restrictions in your contract, go for cream, white or beige carpet. Yes, it gets dirty quickly, but it's the most appealing colour when people walk into your home. If you have carpet in your bathroom, get rid of it now!
LIGHTING - If you have normal hanging bulbs, update them. Either buy some funky, modern lampshades from somewhere like Argos (when I say lampshades, I'm talking silver, laquered or clear ones in modern materials - not fabric ones). If you can, buy some new light fittings, such as tracklights and spotlights.
Ask your estate agent for an honest opinion of what you could change. The more you sell it for, the more they'll get, so they should be willing to help you. Tell them you didn't decorate it yourself and they'll be more likely to give you an honest appraisal.
Most of all, you need to remember that you want to give buyers a modern, spatious, light and airy flat. If there's a better flat nearby for a similar cost, they are going to buy that one. So do everything you can to close the gap.
Good luck!
xx EmmieHow do increase the value of my flat?
according to all those 'location location' type programmes you need modern kitchens and bathrooms and when yuo get it valued have no clutter around the place. Also built in storage is good.
I think a lot of people now look for a new kitchen and bathroom area. no clutter and very plain decorations. stay away from colours neutral all the way.
Add a indoor Olympic swimming pool approx 1.5 million pounds.
white and trendy kitchen cupboards
white bathroom suites
a fitted wardrobe in the bedroom (especially for women buyers)
space - declutter
modern lights shades
wooden floor in the passage, bathroom and kitchen
i sold my 1 bed flat in January and i gained 拢10000
more than the original price the estate agents suggested
just by modern furnishings and wooden floors
it only cost me 拢1200 to do it up
trust me
Yeah, neatral colours, and make it look as new and clean as possible. oh and make sure its tidy
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