One of the lasting impacts of the lockdowns imposed during 2020 and the early part of 2021 in response to the Covid-19 pandemic is a staggering UK housing boom that has seen property prices rise month-on-month for the longest period of time since 2016. The dramatic price increase of over 10% for the average UK property was fuelled by buyers seeking more spacious and rural properties in response to a widespread move to remote working in most non-essential industries over the last two years. With flexible working models set to continue indefinitely, these strong increases in property value are predicted to stay for the foreseeable future.
2022 already promises to be a lucrative year for those looking to sell their house as demand continues to outstrip supply, particularly in non-urban areas which are convenient for occasional commuting trips. To capitalise on this interest and ensure that your house sells for the highest possible price, take measures to maximise the value of your property. These improvements can be as small as a lick of paint or as ambitious as an extension, but each is guaranteed to heighten buyer interest and increase the amount they are willing to offer for your home.
A recent survey from The Bathroom Showroom revealed that bathrooms are top of mind for British homebuyers, with 86% willing to pay more for houses with a second bathroom. It has also been reported that a shower is a dealbreaker for 46% of UK residents looking to purchase a property so it is advisable to add or upgrade showers to make your home appealing to buyers. Ensuite bathrooms are now an expectation rather than a luxury, and people are willing to pay a significant amount for bathrooms with modern appliances and non-carpeted floors.
Conversions have always been an effective way to increase the value of your home, but this is especially true in a post-pandemic landscape. With many people working at home at least 50% of the time, having a dedicated office space ready and available is an appealing hook for buyers of all ages. A popular trend is to create a garden office which offers total tranquillity and separation from the main house. Other conversions that are most likely to increase your asking price are transforming your garage into second living space and making use of your loft as an extra bedroom.
Update Your Heating System
Particularly given the current cost of living crisis that is being driven by ever-soaring gas prices, modern-day buyers are willing to pay more for the privilege of an efficient heating system. Focus on maximising your insulation with double-glazed windows, new doors, and padding in the loft, all of which will improve your overall energy efficiency rating.
You could also consider overhauling your heating system completely and replace the traditional gas boiler with a greener counterpart such as an electric or biomass boiler. Another option is to install a heat pump, a modern device which is set to be a major player in getting the UK to net-zero carbon emissions by 2050. A more accessible eco-friendly alternative is solar thermal panels that can be used to supplement rather than replace your heating system.
Do Some Decorating
Even though most buyers want to update home interiors to suit their tastes, it is always preferable to move into an attractive property where you can take your time with updating the décor. Buyers are driven by emotion as well as logic and will often prioritise properties where they can picture themselves living rather than houses that require a lot of maintenance work to look good. Small improvements to décor have a big impact on making a house appear better value: give faded walls a lick of paint; reseal sinks and bathtubs; remove mould from tiles and mend any that are broken, and fill cracks in ceilings or plasterwork.