Simple Tips to Add up to £50k to Your Property Value

The start of 2020 has been incredibly unusual and challenging, with the majority of the UK spending a lot more time in the house than they normally would.

However, there’s been a property productivity boost as a result. We’ve seen a surge in people sprucing up their homes and kickstarting a good spring clean, with the sales data of tools and paint confirming this. Tool sales shot up hundreds of percent and the odds are that you’d find it tough to get the colour paint you wanted at your local store due to demand.

If you’re thinking about using this extra time indoors to do up your home, we have a few tips for you that’ll not only get your house looking as good as new but also add plenty of value to your property too.

Home Improvement Tips Table

 

Here are some relatively easy and affordable things you can do that will drastically add value to your property.

 

Install Smart Technology

Making energy-saving improvements to your property could increase its value by an average of 14%, and up to 38% in some parts of England, according to a government publication in 2013, based on research by the Department of Energy and Climate Change.

The government’s publication state that improving a property’s EPC (Energy Performance Certificate) from band G to E, or from band D to B, could mean adding more than £16,000 to the sale price of the average UK house. However, some places around the UK will see even more ROI. For example, in the North East, improved energy efficiency from band G to E could increase this value by over £25,000.

Installing Smart Tech

 

The increase in value is due to new homeowners wanting houses that are energy-efficient, confirmed by various housing surveys. A 2017 survey from T3 Sixty and Coldwell Banker said that 91.3% of brokers and agents said they would benefit from the incorporation of smart home technology, with 82% saying they believed smart home technology streamlined a sale. Smart home technology was also identified as a top trend in Zillow's 2019 Design Forecast.

- Spend = £179

- Potential Added Value = £16,000+

 

Spruce Up Your Garden

A great place to start is actually outside rather than in. Research by gardening experts McGregor and estate agent Emoov.co.uk reveals that outdoor space could add as much as £5,000 to your property’s value. They state five important garden transformation tips for gaining this added value;

1. Mown Grass – “An overgrown lawn is a huge turn-off for potential buyers.”
2. Colourful Plants – “A bright, well-kept flower bed grabs attention.
3. Trim The Hedges And Shrubbery – “Kept neatly, they can boost kerb appeal massively and are currently more on-trend than fences and walls.”
4. Clean The Patio And / Or Pathway – “A freshly washed pathway can make a property look brand new.”
5. Pull Up Those Darn Weeds – "Key for any garden’s flowers to bloom.”

Sprucing Up Your Garden

 

If you're finding it hard to get motivated to mow the lawn, try thinking of it as time spent adding some serious value to your property.

- Spend = £0

- Potential Added Value = £5,000

 

Keep Your Trees Tidy

According to the 2018 Remodelling Impact Report from the National Association of Realtors (NAR), the estimated cost of tree care service is $2,000 (£1,670), a whopping 100% of which is recovered when buyers sell their homes.

Keeping Your Trees Tidy

 

However, if you can do this yourself, and have the right tools to do so, you can gain a lot of money with zero outgoings!

- Spend = £0

- Potential Added Value = £1,670

 

Garden Decking

This is one of our more expensive tips, but still extremely cheap in the grand scheme of things, is to install some garden decking. You can buy basic timber decking boards for as little as £15 per metre squared, meaning in order to build yourself a 20m square deck would only cost around £300. If you can afford this outgoing it is well worth it.

Garden Decking - Add Value

 

According to Location, Location, Location star Phil Spencer, speaking with the Telegraph, garden decking can add 2% to your home’s value, and with the average house price in the UK today currently at £247,355, you could be adding around £5,000 (£4,947.10 to be exact) to your property’s value.

- Spend = £300

- Potential Added Value = £5,000

 

Freshen Up Your Front Door

A new doorknob (£35), brass letterbox (£25) or a stainless steel house number (£25) can really do wonders for the look of your front door. Couple this with a fresh coat of paint and you can immediately give your home a fresh and updated look.

Freshen Up Your Front Door

 

When picking a colour for your front door the best option according to Zillow’s 2019 Design Forecast, is black or charcoal grey, as homes with this coloured front doors sold for $6,271 (£5,241) more than expected.

- Spend = £85

- Potential Added Value = £5,241

 

New Bathroom Features

Don’t worry, you don’t have to install a new bathroom suite to add value to your home, you only need to freshen it up with new features.

Adding New Bathroom Features

 

Bathroom features are surprisingly cheap, you can get yourself a set of new taps (£20), a heated chrome towel rail (£50), a big new shower head (£20) all for under £100 and according to NetHousePrices, new features like this can add 2.88% (£7,000) onto your house’s value.

- Spend = £90

- Potential Added Value = £7,123.82

 

Two-Tone Kitchen Counters

The same applies to the kitchen. If you’re looking to add value to your home while on a budget there is something you can do in the kitchen that you wouldn’t expect to work but does.

Adding New Kitchen Counters

 

According to Zillow, kitchens where the upper and lower cabinets are painted in two different colours, sell for a $1,547 (£1,286.61) premium. Counter doors cost anywhere from £14 to over £100 but if you stay towards the lower end of the scale you can upgrade the look of your kitchen by spending no more than £60-£70

- Spend = £60

- Potential Added Value = £1,286.61

 

Correct Wall Colours

Speaking of colours, you can actually increase the value of your property just by picking the right colours for a particular room.

Choosing The Correct Wall Colour

 

Zillow recently conducted research and found that certain colours added value to people’s homes, such as colouring the bathroom in light blue ($2786 / £2,323.29) and the living room in light taupe ($2,793 / £2,329.12) and with a standard tub of paint costing £16, that’s quite an increase for such a little spend.

- Spend = £16 (per tub)

- Potential Added Value = £4,652.41

 

Outdoor Paint

It turns out the interior shouldn’t be the only place we’re painting either. Phil Spencer also stated in his piece in the telegraph that painting the exterior of your home is vital as:

“You have to get buyers through the front door, which means you need to have the outside as spick and span as possible (which could add £5,000). If nothing else, your house should at least look better than your neighbours’.”

Choosing The Right Outdoor Paint

   

So, maybe it's time to get yourself out in the garden and tidy up your paintwork - especially with that potential value-add!

- Spend = £35 (per tub)

- Potential Added Value = £5,000

 

The Results Are In…

So, how much value can you add to your home by making these low-cost changes?

 

- Total Spend = £765

- Total Potential Added Value = £50,973.84

 

That’s up to £50,000 worth of potential value for under £1,000. It might just be worth getting the paintbrush out and firing up the lawnmower. 

For more tips and tricks to increase the value of your home and how colour psychology can brighten up your interior spaces – check out the My Tool Shed blog.