Ten of the best ways to ad...

To renovate or not renovate? That is a leading question for many Sidcup homeowners looking to put their house on the market.

If you want to work your way up the property ladder to your dream home you need to know how to maximise the value of where you live now, and that is why we have decided to reveal to you the best 10 ways to add value to your property.

1. Convert a basement

Potential Value Added: Up to 30% (all values quoted are statistical assessments and not guaranteed).

Not many properties in Sidcup have basements but if you are lucky to have one transforming it into a living or storage space can boost a property's value by up to 30% – so long as the build cost per square foot is less than the price per square foot of the area.

If you have a cellar it is one of the most economical home improvements you can make, as it qualifies as a “change of use” for planning purposes and generally does not require planning permission.  If you are making structural changes to a listed building, however, you will need to talk to your local planning officer.

2. Convert into flats

Potential Value Added: Up to 30%

Converting houses into flats is very popular in London, as flats are in high demand and often easier to rent to tenants. Splitting a Sidcup property into separate units could maximise rental income in the short-term and profit on sale in the long-term.  It is of course advisable to do some research and ensure that flats will be wanted in the area. If three bedroom properties are not shifting but smaller flats are, conversion could be the answer.

3. Convert a garage into living space

Potential Value Added: 15%

If your garage is not being used to home a car, it makes sense to utilise the space and convert it into a living space – especially if you have other parking spaces.

Ask an agent about the buyer demographic in your area and keep that in mind when you transform the space. A family orientated location may find a study, or extra bedroom useful,  whereas if it is a first-time buyer hotspot, a gym may be more desirable.

4. Extend or fit a new kitchen

Potential Value Added: 15%

A beautiful kitchen can really sell a house, so if yours is looking a little out of date or shabby it is probably worth the expense of getting a new kitchen fitted. To appeal to the maximum number of potential buyers, opt for a neutral, contemporary style. A 'side return' extension is a very common project that can really complement your existing kitchen – if done well! Be creative with light and ceiling levels and pull in lots of natural light to make the room feel much more spacious.

5. Convert the loft

Potential Value Added: 15%

Adding an extra bedroom can add up to 15% to the value of your home, especially if it is a loft conversion with an en-suite bathroom. Most lofts can be converted, but it is worth getting an architect or builder in to double check before you start planning.

6. Increase living space with a conservatory

Potential Value Added: up to 10%

Increasing your living space is a good way to add value to your property, but if you are considering a conservatory, make sure the style is in keeping with the rest of the house.

The good thing about adding a conservatory is that you will not need to obtain planning permission, so long as no more than half the area of the land of the original house is covered and your property is not a listed building.

7. Apply for planning permission and then sell

Potential Value Added: up to 10%

If your property can be substantially improved or extended or you think you have a building plot, it may be a good idea to apply for any necessary planning permission before putting it on the market and sell it with the benefit of planning approval.

If you are thinking of buying a property and plan to add to its value through extensions or big home improvements, check whether planning permission is likely to be granted. Yield calculations based on a bigger square footage are worthless if you cannot get that permission.

8. Kerb and garden appeal

Potential Value Added: up to 8%

It is really important to make the most of the space you have. Adding decking or a patio can transform a garden into an entertaining space, and when staged as an additional room, summer houses can also add to the property value.

It is also worth adding lighting and watering systems for ease of maintenance. First impressions are really important, so do ensure your house has kerb appeal by giving it a fresh lick of paint, mowing the lawn, adding a new door, a clean new path and ironmongery.

9. Get a new bathroom

Potential Value Added: 3-5%

A new bathroom will certainly increase the value of your property – but it is also an expensive investment. If your current bathroom is just slightly dated rather than in very poor condition, you may not get back much more than the cost of the upgrade so it may be worthwhile just to freshen it up and install new fittings and accessories.

10. Open up the living area

Potential Value Added: 3-5%

Open-plan spaces are very appealing, so it may pay to knock down walls that are separating the kitchen and dining room. It also makes the space feel larger and lighter, which will help the saleability of the property.

Why not download our FREE eGuide ' How To Make Your Home Valuable And Sell Quickly':Read more articles: Why not read more of our articles on the Sidcup Property Blog click here

Speak to me: If you'd like to have a chat about anything in this article or property related, drop me an email at pj.long@drewery.co.uk – I'd love to hear from you.

Paul Long (Director & Author of The Sidcup Property Blog)

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