Will redecorating increase my house value?
Homeowners are often told to redecorate their house before they sell, but how much value is there in doing this? If you’ve been wondering how redecorating can increase your house value and help you sell faster, this is the article for you!
I want to redecorate but I’m on a budget, is it worth it?
You can redecorate on almost any budget and it will always help when it comes to selling. If your budget is larger, you can do more extensive redecorating that will contribute to increasing your house value but if you’re on a lower budget there are still benefits –
- Appealing to viewers:
While more simple redecorating won’t really affect your house value, it will make your property look more attractive and this will make it appeal to more potential buyers. A fresh coat of paint goes a long way and could be the difference between a viewing and a sale!
- Encourage a higher offer:
Your potential buyers will put in an offer generally below your asking price which is where you’re able to negotiate with them to find a price that you’re both happy with. If you’ve recently redecorated, this will save the buyer a job when they move in and will give you some leeway and will often result in a slightly higher offer than you would have received if you hadn’t decorated.
What will increase my value the most?
If you’re looking to add value to your house, there are several options for you –
- Adding a bedroom:
This is one of the best ways to add value to your property and can be done in several ways, making it a very popular option for homeowners. Whether you choose to build an extension to add a bedroom, renovate a room such as a dining area that isn’t used, or converting a loft space, you can decide which works best for you and add as much as 20% to your house value.
- Renovate the bathroom:
Bathrooms have become even more of a focus point than they were with so many buyers looking for a relaxing space rather than just a bathroom. Depending on the condition of your bathroom beforehand, a renovation could increase property value between 5-10%, but there are a few things to keep in mind. Where possible, have both a bath and a shower as often people will prefer one over the other. You don’t have to have both as separate entities, you can have the shower over the bath, this will just ensure that you don’t lose out on a sale because of your viewers’ preferences.
- Spruce up the garden:
Outside space is now one of the most popular features of property and so many buyers are looking to move forward with houses that can offer it. Thankfully, outside space can come in all shapes and forms, so whether you’re selling a house with a large garden or a flat with a balcony, you can benefit from this.
Spend some time doing up your outside space, especially if it hasn’t been particularly well-maintained in the past. Trim hedges, cut grass, get rid of any weeds – you want it to look as welcoming as possible and highlight just how useful it would be to your buyer. If you don’t tend to use the space much, try to show how the future buyers could; add a table and chairs, or some potted plants to spruce the place up. Having outside space will automatically increase your property value, but you want to make sure that your buyers can see the potential in it.
Can I sell a house that hasn’t been redecorated?
For some, redecorating to sell takes time and money that they don’t have or simply don’t want to put into the house because they’re ready to move elsewhere. You can still sell your home without redecorating first, but it may be a slightly slower process as the other houses in the area which are essentially your competition will likely be redecorated to increase interest. Generally, if you do spend some time redecorating, you will be able to sell your house fast compared to if you choose not to.
Any amount of redecorating can help to increase your house value, and usually, the more you do the more your value will increase. Just remember when you’re doing your improvements though to outline a budget and stick to it as much as possible – this will ensure that you don’t spend more than the amount that your value will increase to keep you in the best profit!