10 Evergreen Methods to Increasing Property Value

First impressions matter when time comes to valuing a property, and the general perception of the property will create a much more marketable product, as it is the first point of sight for passersby and online viewings. A lick of paint, landscaping and general maintenance on the exterior are great low-cost solutions to improving the look of a property from the street view.

Areas that have high use and often need upgrading due to current interior design trends and frequent use, are kitchens and bathrooms. Easy to clean timeless designs are a great solution to improving the value of a property, especially as these two areas are the first items people look out for when calculating expenses when on the hunt new properties.

You are looking at a potential 5-12% overall increase of property value by upgrading these two spaces.

Creating an open plan living space or solving poor design choices by the previous designer or developer can significantly improve the quality of living. If you can add better functionality to the space whilst improving the efficiency in circulation, then this can be a big driver for increased property value.

If you hire experienced architects like us, you are likely to see an increase in value of the property anywhere between 10-20% or more depending on the type of improvements.

A damaged structure potentially can negatively impact the overall value of property by 20-25%, a significant amount that should not go unnoticed, for obvious health and safety concerns. A qualified structural engineer and architect would need to come and assess the stability of the property, and test samples to provide revised calculations and remedial works.

However, before buying any property, a full structural survey should be undertaken to ensure that you are best informed of any cracks and defects in the structure of the building.

We all know energy bills are rising in this current climate. So, assessing the quality and condition of the HVAC, lighting, heating and cooling systems is wise move. Having a more efficient and energy saving HVAC system will save costs over a longer time span. For example, going from a gas boiler to electric heat-pump can potentially reduce heating costs from 30-50% or more annually. Furthermore, switching the lighting to LED if they are all existing halogen bulbs can save 75-80% of energy, and finally MVHR (mechanical ventilation heat recovery) units can save 25-50% of heating and cooling energy by circulating filtered air around the property, whilst also maintaining the air quality for health concerns such as mould. These are massive savings and will reflect in the value of your property.

Taking an existing property and transforming it through relatively simple extensions and alterations is a tried and trusted method to adding value to a property. However, every type of alteration or conversion will have its drawbacks and will need to be weighed up in costs and benefits to see if the added value is worth the expense.

A double-story extension could add up to 20%, while a single-story extension might add around 5-10%, and with the cost per metre being cheaper for double extensions it would be more profitable to go for the latter if it is permissible.

Conversions can also be a powerful method to adding value, for example turning a 4-bed terrace into two flats, or HMO could be a profitable venture. Conversions will need planning permissions so get in touch with us for a consultation.

The perception of a property is a big determining factor at the end of the day as perceived value counts. Big purchases unfortunately are usually emotional decisions, whether we like to admit this or not. People can weigh the pros and cons all they like, if two properties are identical on the page, the only determining factor is the impression the property gave when viewing took place.

Adequate maintenance and general upkeep can improve the value of the overall property by 1%, which is considerable if all you needed to do was get out a dustpan and brush or give the place a fresh coat of paint.

As a developer you want to produce something that appeals to a mass market, as niche designs may alienate potential buyers. This is not to be confused with creating dull and boring designs, but the devil is in the details.

Architects like us can produce photorealistic renders or produce timeless designs for interiors.

If the structure of the property is sound and it is within your permitted development rights to adjust the walls and internal layout of an existing property, then this can be an incredibly valuable tool to improving the circulation and internal plan of the property. For example, if the kitchen is tucked away in a different room, it may be better to break down the wall and create a more open plan layout, with a potential breakfast bar to modernize the property.

Perhaps there are overlooking houses which may prompt you to add some fencing or planting to provide a sense of privacy to the garden outdoor space. Or perhaps there is a nearby train passing by where noise levels are quite high, you may want to improve the acoustic performance of the walls and windows to ensure that the space inside is protected against noise issues such as these.

This is all done on an individual case by case level and it is worth speaking to architects to be made fully aware of any legal issues and potential solutions that can help with this.

There are many different factors that can increase the value of your property, and at the end of the day it comes down to what your goals are, and the cost of producing such changes in respect to the final valuations. Many of these changes are tried and trusted property amendments that are not trends but are strategies to improve the value of your property that have been carried out by many property developers.

If you are preparing to develop a property and need consultation, please get in touch using the link below, and we can book you in for a free consultation.