According to the most recent figures, the UK property market is headed for its worst annual performance in almost a decade. As part of this, house prices declined by nearly £10,000 on average in October, with this trend likely to continue against the backdrop of Brexit.
With this in mind, people who are hoping to sell their home for a profit will need to reduce the cost of renovating the property in question, while also prioritising the improvements that they can complete individually.
In this post, we’ll look at the simple DIY changes that can increase the value of your home in a challenging marketplace.
Install New Flooring and Carpets
Flooring is often the first thing to be replaced when home-owners refurbish their property, as this is likely to become worn out over time (particularly in high traffic areas such as the hallway and stairs).
This can be especially damaging in the case of carpets, which are a common source of the stains and lingering odors that really undermine the appeal of your home.
Make no mistake; installing new carpets can really revitalise your home interior, with this move thought to deliver an average profit of £2,000 and a return on investment (ROI) of 50%.
This is based on an estimated spend of £4,000, however, which includes the cost of labour for having carpets professionally fitted. You can instantly reduce this cost by removing the old carpet and laying the new one by yourself, while investing in cordless tools and battery packs that enable you to sand the floorboards underneath.
Repair the Exterior of your Property
It’s estimated that we only have seven seconds to make a first impression on others, and this rule can be applied directly to those viewing your property.
This is why repairing the exterior of your property is so important, as this is one of the first things that potential buyer see when visiting your home.
According to Zoopla, reinvigorating your home’s exterior will deliver an ROI of 75%, based on an average cost of £6,000. Once again, however, you can reduce this cost considerably by doing a great deal of the hard labour yourself, such as cleaning dirty windows, replacing chipped door frames and attending to any cracked roof tiles. To make sure this is effective it is useful to have the correct equipment such as cordless tools.
Adding a fresh coat of paint can also make a significant difference, while this is a cost-effective measure that has a big impact on your exterior.
Clean up your Garden Space
On a similar note, the front garden is also one of the first things that potential buyers will see when visiting your home.
The back garden is also important, as this can easily become overgrown and messy during the winter months.
Clearing the debris from your garden is an excellent place to start when looking to optimise the value of your home, while you should also ensure that all dead plants have been removed and that the lawn is well-maintained.
This will ensure that your home boasts a warm and welcoming feel. It will also deliver an ROI in excess of 88%, particularly if you minimise your spend by completing all manual tasks by yourself.