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Tricks of the trade – interview with Phil Spencer

Should you spend a lot of money on fixtures and fittings?

When undertaking improvements it’s important that they suit your property.If you live in a two-bedroom house at the lower/middle end of the market there is no value in adding designer taps. You can get designer look taps that won’t break the bank and instead spend the extra money updating another area of the house to the same standard.

On the other hand, if you have a luxury property then it’s best to invest in luxury fittings to match. Buyers expect the real-deal if they’re paying top dollar.

bathroom sink

What’s the easiest home improvement job that will make a house more saleable?

Getting people through the door is the first challenge. Potential buyers form an opinion of a property in a matter of seconds and it’s not uncommon for people to refuse to take a look inside if the exterior isn’t up to scratch.

Improving the kerb appeal of your property isn’t likely to add value but it will make it more saleable. The good news is that any house can have kerb appeal. Simply keeping the exterior of your house in good repair will mean that buyers assume this will be reflected throughout the rest of the house.

People want to feel like they’re moving to an area where the residents take pride in their street so if you’ve got viewings planned it’s worth having a scout along your pavement to make sure there’s no litter lying around.

Black and white Victorian tiles

Is there a magic formula when buying a property?

Yes – the magic triangle.

magic triangle

Budget, location and space are the variables you need to consider. Chances are you can’t have all three so you need to prioritise what’s most important to you.

Budget is usually fixed so once it’s decided, this is no longer a variable. Space is about the room you need, rather than the ideal amount you’d like to have and it’s best to be realistic. Location, location, location are the three main things to consider when buying a home, so they say. You can change the house but not the location, so you should think carefully before compromising.

Best,

PHIL

Phil Spencer

Phil Spencer doesn’t need much of an introduction, he’s TV’s most well-known property presenter, having co-presented Location, Location, Location and Relocation, Relocation for over 10 years. Phil'ls blog posts focus on adding value and advice/ tips for when you're buying or selling your house.

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