HOUSE prices have reached new highs this year and it’s becoming increasingly challenging for those looking to buy and sell.
The average property price now sits at £283,000 according to the Office for National Statistics.
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And house prices remain more than £32,000 higher than this time last year.
Average house prices increased over the year in England to £302,000 (13.1%), in Wales to £212,000 (14.4%), in Scotland to £188,000 (11.2%) and in Northern Ireland to £165,000 (10.4%).
We spoke to Chris Husson-Martin, a housing expert from Hamptons estate agent, to find out how you can add value to your home without breaking the bank.
Chris said: “If you’re looking to sell-up this summer you need to make sure your property stands out and you’d be surprised to know that it won’t cost an arm and a leg.”
Adding value to your home won’t just make it attractive to potential buyers, but it’ll also improve your own well-being whilst increasing your equity.
It could open up avenues for better long term loans and mortgage deals.
A fresh coat of paint – from £5
Chris said that decorating is the best thing you can do to add value to your home on a budget.
Doing it yourself will save you even more money, rather than getting the professionals in.
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And it’s as simple as putting a fresh coat of paint on the walls – you’ll add tens of thousands to the value of your home.
You don’t need to look out for expensive paint brands for the best results, said Chris – instead, focus specific paint types: glossy finishes are a thing of the past, while matt finishes are in.
High-street hardware stores offer tester pots so you can easily compare prices and colours across B&Q, Homebase, Wicks and Wilko’s.
Chris said: “A fresh coat of paint on your walls will brighten things up, while little touch-ups can hide marks.
“This will add value to your house without the high cost of a total refurbishment.”
Simple makeovers like this can add thousands of pounds to a home’s value because it “makes a good impression” when anyone first walks in, and suggests that the house has been well looked after.
Make do and mend – from £3.50
Don’t spend thousands on a new kitchen when all you need to do is replace the splash backs and give the cabinets a lick of paint.
It’ll cost a few notes but will add tens of thousands to the value of your home.
Chris said: “Just changing the cupboard fronts and worktops is a far cheaper alternative to installing a whole new kitchen.
“The transformation will immediately add value to your home.”
You can re-grout tiled flooring and splash backs for as little as £10.99 with Screwfix’s low-cost trade range of goods.
And if your grout has just faded in colour, Wilko and other retailers stock grout restorer pens costing as little at £3.50.
If you have standard sized kitchen cupboards, you may be able to pick up some new doors on sites cheaply second-hand through sites like Gumtree or Facebook Marketplace – add some new handles and you’re good to go.
De-clutter – get £100s back
Chris said: “Clutter, unfinished DIY, stained ceilings and damp and mouldy walls are a major turn off for prospective buyers so make sure any works are finished.”
This simple trick shouldn’t cost you much but it’ll add thousands to the value of your home.
The less stuff that’s crammed into the house, the easier it is for a prospective buyer to imagine themselves in it.
And leaving DIY jobs half-finished not only looks unsightly but makes buyers think they are signing up to a bunch of work.
Selling your old goods is as simple as a click of a button nowadays.
You can sell your items to clear the clutter at a whole host of online market places including Depop, Facebook Marketplace, Gumtree, eBay or Vinted.
Let there be light – from £5
Chris said: “Light is a key element to consider – make sure your home is as bright as possible.”
You’ll add thousands to the value of your home just with these simple tricks.
Trim back any overhanging foliage outside that’s stopping light coming through windows or patio doors, and make sure there isn’t any big furniture blocking windows around the house.
Chris said: “If this isn’t possible, you can get creative by using mirrors or lamps to make rooms feel brighter.”
Replace your bulbs to really light things up – newer LED versions are often more energy efficient too.
LED bulbs are between 50% to 70% cheaper to run, although they cost a little more at the outset.
You can pick these up in multi-packs from most retailers including the big supermarkets for as little as £5.
