How to Increase the Value of Your Home

Published Sunday August 08 2010

The global economic crisis has hit the United Kingdom hard. This has had a direct affect on the UK housing market, causing the value of properties to decrease as a result. Some properties have dropped by a staggering 20% in value as a result of the economic crisis. So what can you do to help combat this? Well this article outlines a few measures that you can take to help combat the economic downturn and even increase your properties value.

Update the Kitchen

Even if it's not huge, it should have "countertops that are serviceable that aren't going to have to be replaced soon and cabinetry in good condition," says Alan Hummel, past president of the Appraisal Institute. "It has to be well-appointed and large enough to fit your needs."

Improve the Bathroom

A big asset: spa or whirlpool tubs. "I'm always entertained by the people who have them in the master bath and don't use them," says Ron Phipps, principal broker with Phipps Realty & Relocation Services in Warwick, R.I. "But it's a big feature."

Incorporate Glass Balustrades and Metal Balustrades

Balustrades are hand railings that come in either metal or glass. Incorporating Glass Balustrade or Metal Balustrade into your home can really help to increase its value considerably. There are a wide variety of designs that you can use to really help your home to stand out from the rest.

Get your garden Landscaped.

Appraiser John Bredemeyer remembers one $250,000 home in Omaha that had no landscaping at all. "It was stark," says Bredemeyer, national chair of government relations for the Appraisal Institute, a professional group for real estate appraisers. "It just stood out as unappealing."

So out of all these ways which can be deemed to bring the most value to your property? Well It can be argued that by implementing a combination of all of these methods you will in fact add value to your home. Remember very simple changes to your property can help to increase the value of your home such as redecorating. Other ways to increase the value of your home could be building an extension or adding a conservatory.
Prices vary depending on what you do, but at it's simplest, it could come in at about the same cost as moving to a bigger house. Assuming you'll get your money back is a mistake, as so much depends on the market value of your home.

"You must remember that the average price of properties in the area will dictate the maximum price your property can achieve," says Peter Bolton King, chief executive of the National Association of Estate Agents (NAEA). "If average prices for similar properties are £300,000, for example, it's unlikely that adding an extension will increase the value of your home much above this threshold. Adding an extension should be a lifestyle choice, as it's possible it will cost the same amount to build as the value it adds to your property."

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