This is my first Rated People blog post, so I want to kick things off by setting out what adding value means to me…
It’s about making your home a better place to live. It is about enhancing your property so it is a place to take pleasure from; it is not simply about turning a fast buck.
The primary reason you chose a property should be to shelter your family. My constant advice has been to buy for the long term and to select somewhere that can be adapted to suit your needs as they evolve. If you are planning to spend a certain sum on improving your home, you might as well get the benefit – and pleasure – out of it yourself, rather than doing it as a last ditch attempt to get as much money as you can when you finally put up the ‘for sale’ sign.
There are lots of ways to add value – it can mean anything from simple DIY projects or insulating the loft, to extending it and creating a brand new space.
While many home improvements add to the saleability of a property, the cost of the project does not necessarily add an equal amount to the value. Fortunately, it’s what you do with the money you have that makes a bigger difference than having lots of money to start with!
There are a few golden rules to adding value to your home
1. The price bracket of any fixtures and fittings needs to match the price bracket of the property. Don’t go putting a cheap floor in an expensive house and conversely don’t spend a fortune on a swanky kitchen in a tiny flat. Every property has a ceiling price – over which people will not pay, regardless of what you do to it – know what yours is.
2. Do not overdevelop. Carrying out a major basement dig out on a small house with only a couple of bedrooms would make it bottom heavy. A house has always got to remain balanced and the rooms in proportion to one another.
Over the next few months I will be writing more blog posts for Rated People, with insider tips and lots of ideas and suggestions about what to do, what not to do and how much to pay for it!
Best wishes PHIL
Looking for tradespeople you can trust to complete a project to add value to your home? Post your job on Rated People and up to three tradespeople will get in touch to quote on your job. You’ll be able to view their individual profiles, complete with previous customer recommendations, to help you decide who to hire.