How to add value to your home in 2023

Are you thinking of selling your home? It’s important to get the most out of your sale by maximising your home’s attractiveness to buyers. The potential of your home, along with other things, will increase its market value.

So how can you add value to your home? We've compiled a list of things you can do in 2023 to add value to your property - whether you're selling in a few months, or in a few years.

Six quick wins before you sell

If you're looking to sell before the year is out, you haven't got a lot of time on your hands. That means you need to make the best out of your property in its current state.

There's a lot you can do to push up the value of your home - but we're not talking crazy numbers. With these quick wins, we're aiming to secure the highest possible price for your home within its current set-up.

Without further ado, let's get started.

1. Give the front of your home some TLC

First impressions count and the front of your house is the first bit of your home that potential buyers see. Making it look attractive can go a long way - and luckily, this isn't super hard to do.

Clearing weeds, planting seeds, removing rubbish, and hiding your wheelie bins are cheap but effective ways of making your home appear more inviting from the outside.

If you don't have a front garden, there are still things you can do to beautify the front of your home. Cleaning your windows, washing the bricks, and removing any signs of wear and tear will all serve to improve first impressions.

To enhance the overall appeal of the property to a broader market, remove any signs and posters that are visible from the street through windows.

2. Slap on a fresh coat of paint

Dull, peeling paint is a tell tale sign that a property has fallen into disrepair. Dark colours blend with peeling paint to give homes a shabby appearance. We recommend giving your home a fresh lick of paint - preferably with lighter shades to make the property appear larger and brighter.

We also recommend revisiting your front door. Unless you have a gate, your door is the first object your guests will interact with. Ensuring it looks fresh, while in-keeping with your home's original look, is essential.

Here are some colour combinations you should look into:

• Classic red door with neutral exterior
• Bright yellow door with grey or neutral exterior
• Aqua or teal door with light grey exterior
• Deep green door with red brick exterior
• Light blue door with white exterior

3. Clean and declutter

It goes without saying that a clean home is one that sells. Guests always check cabinets and drawers, and natural light always illuminates stains and dirt, so make sure every nook and cranny are as clean as possible.

New movers always look for larger living or storage space in their prospective homes, which is why decluttering can really boost the value of your property. A study of over 250 estate agents, commissioned by Big Yellow Storage, found the removal of bulky items to add over 11% to a home's overall value.

1. Keep: If you decide to keep an item, leave it where it, albeit with a tidy.
2. Store: Store sentimental items somewhere where potential buyers won't notice them.
3. Donate: If you don't need the items, donating is a great way to recycle them.
4. Bin: If there are any items which can't be reused, the bin is their final destination.

4. Add some storage space

Gain valuable space in your home in a single stroke by maximising your property's storage space. Boosting your storage doesn't have to be a complex process - you can purchase new shelving units, or even furniture that multi-tasks, like tables with drawers.

Bear in mind that families looking to move home will always prioritise extra storage, so don't disregard this simple way of adding value to your home.

5. Replace old flooring

Replacing old flooring is a valuable and quick way to enhance the appeal and value of your house before selling it. New flooring instantly refreshes the space, improving aesthetics and leaving a positive impression on potential buyers. The upgraded look suggests a well-maintained home, making buyers more willing to pay a premium for a move-in-ready property.

Choose popular and versatile flooring materials that align with local market preferences, ensuring a broad appeal. Quality installation is crucial for a polished finish, and while costs may vary, this moderate renovation offers a solid return on investment.

6. Let the light in

It's important to have as much natural light in your home as possible, and there's some affordable ways you can do this. Bi-fold doors are a great way to shed some light into your kitchen, but if you're looking for a cheaper alternative, you could just add more mirrors or wash your windows.

Six long-term renovations to add value

If you're looking to add the most value to your property, diving into some bigger renovation projects might be a smart move. How much value these enhancements will bring to your home depends on the market value of the highest-rated properties in your neighbourhood.

Most of these renovations usually need planning permission. Plus, they've got to meet the building regulations set by your local authority.

1. Apply for planning permission

First and foremost, sometimes just applying for planning permission is enough to add value to your home and swing a buyer in the right direction. Planning permission shows your home has potential for future developments, without the expense of labour and building materials.

Building a loft conversion can stretch out over a considerable period. Applying for planning permission for a loft conversion however, takes much less time.

The average rate of planning permission for a small extension is £200, but it can be as much as several thousand pounds for larger developments. Despite a possible hefty bill, the price is nearly always worth the cash. Research conducted by Ideal Home suggests that obtaining planning permission could add up to 10% to your home's value.

2. Erect some decking

Investing in a well-crafted wooden deck is an economical approach to boosting your property's value. Consisting of a substantial 30 cm thick wooden patio, elevated garden decking presents an idyllic setting for outdoor dining and relaxation. Despite being a budget-friendly enhancement, this expansion amplifies the perceived liveable space for potential buyers, making its 2-10% increase to property value a predictable outcome.

While softwood decking tends to be more cost-effective than composite or hardwood options, we recommend considering a slightly higher investment in decking materials. The minimal price difference of a few hundred pounds pays off in the long run. Opting for more durable decking not only ensures longevity but also enhances your property's allure for prospective buyers.

According to Homehow, 15m² of hardwood decking costs between £1400 and £2200.

3. Landscape your garden

With the caveat of only being available to those with ample garden space, landscaping is one of the biggest investments you can make in your property. While an overgrown garden can be inviting, a managed outdoor space will allow prospective buyers to see the potential for family get-togethers, dinner parties and other events.

Much like a kitchen or bathroom refit, landscaping requires careful planning. Think about what showcases your garden best by taking note of its size and shape. You can start your research by looking around local garden centres and annual garden shows.

And don't forget - landscaping isn't just limited to complete garden makeovers. Many families look for BBQ or 'chill-out' areas in their dream homes, somewhere family and friends can jus kick back and relax.

In cities, having a garden packs a bigger punch because living space is tighter on average. Take London, for instance - having a garden can seriously up your home's price since they're not the norm. But in the suburbs, where gardens are common, the difference in value isn't as dramatic.

Research by Foxtons suggests that a landscaped garden could add up to 20% of your property's value. Meanwhile, the Post Office claims a landscaped garden can add a whopping 77% to the value of your house.

For most homeowners, an increase of 77% is unachievable. A country manor with large grounds will have much greater potential than a 3-bedroom house, and most people live in 3-bedrooms. An increase of 15 to 20% is a much more realistic value increase for ordinary home sellers.

According to research by Landscaping Brothers, a small garden can cost from £7000 to £12,000, with large suburban gardens a much more expensive investment at £12,000 to £17,000. Second only to a loft conversion, a landscaped garden is one of the most expensive home improvements available to homesellers.

4. Remodel your bathroom - or add an extra!

Bathrooms are valuable assets to properties - it's common knowledge that two bathrooms are better than one. While adding a downstairs bathroom to your property will no doubt boost its value, remodelling your existing bathroom can as well. Many people forgo the hassle of remodelling due to the disruption it can cause to everyday life, but that doesn't mean renovations aren't worth it.

Before you begin looking for quotes, we recommend doing some research to work out exactly what you want from your bathroom renovation. The cost of remodelling a bathroom can range from £3000 to £15,000 depending on the size and scope of your design, as well as the inclusion of any luxury products. That means if you know the materials you need, you could drive the price down. For an average-sized bathroom, new tiles and rubber flooring can cost as little as £2000, but will work wonders.

UK insurance retailer, Schofields, states that bathrooms can add up to 4% of your home's value.

5. Add a driveway, parking space, or garage

If you have extra land, a good way to utilise this space is by building a garage. While a garage's primary purpose is to house vehicles, that's not all they're useful for.

Garages are multi-functional storage units, with the same potential as a garden shed for housing lawn mowers and tools. What's more, a garage can be used as a workout area separate to the family home. Dumbbells and weights benches can scuff living room floors, but a concrete garage floor is built for bumps and scrapes.

If you own a garage already, you could boost its value further by converting it into an extra bedroom. Open plan living is extremely popular, and a garage offers the perfect layout for this style of room.

While most aspects of garage conversion are covered in our comprehensive blog on the subject, we will address some of the main points. According to research conducted by Admiral, the average UK garage has a size of 128 square feet, with each foot adding £350 to the value of your home. This suggests a garage can add at least £45,000 to your home's value, which is equal to 17.67% of a £254,624 property. If you decide to convert the garage into a new room, its value could be even higher.

On average, a new garage costs between £18,000 and £24,000. That's an average of £21,000, an expensive investment, but with an excellent value for return.

6. Reopen your fireplace

Reopening your fireplace is a swift and effective method to enhance your home's value and appeal before putting it on the market. A functional fireplace adds a charming and cosy focal point that resonates with potential buyers. It suggests attention to detail and can elevate the overall aesthetic of the space.

On average, the cost of installing a wood burner could range from £1,000 to £3,000 or more, but again, this is a rough estimate and the actual cost could be higher or lower. We recommend receiving quotes from several reputable installers to get a better understanding of the cost for your specific situation.

Three energy-efficient improvements to add value

In an increasingly environmentally conscious world, there's a lot to be said for making energy-efficient improvements to your home. With your central heating system being the main benefactor of these three additions, prospective buyers should look forward to cheaper energy bills and a warmer home in coming winters.

1. New boiler

Boilers are among some of the oldest appliances you'll find in a property, possessing much longer lifespans than other household goods - but that doesn't mean they're energy efficient. While most modern boilers have an energy efficiency of 80-90%, it's possible for these appliances to lose energy efficiency over time due to age, scale deposits, and wear and tear.

Replacing your existing boiler with a brand new one can be an excellent way to demonstrate value to, and inspire confidence in prospective buyers.

2. Double glazing

Double glazing consists of two panes of glass with a layer of insulating air or gas between them. The design significantly reduces heat transfer between the interior and exterior of the property.

As a result, homes with double glazing tend to be more energy-efficient, maintaining a comfortable indoor temperature without relying heavily on heating or cooling systems. This can lead to lower energy bills for prospective buyers.

3. Solar panels

As the UK edges closer to its carbon neutral deadline, many homeowners are prioritising opportunities to both save energy and the environment. With climate change a very real threat, many buyers are searching for eco-friendly features in their future homes.

It's debatable whether solar panels add any quantifiable value to your home. Their benefits however, are undeniable:

• Solar panels allow homeowners to save money through cheaper energy bills
• They can protect against price hikes through their contribution to an efficient energy system
• Panels can redirect solar energy into hot water production, reducing gas prices
• You can even sell energy back to the National Grid for cold, hard cash

It's important to be wary of hiring solar panels from an energy company. Homebuyers will avoid contractual obligations where possible, especially when there's a real prospect of a clean break from their old home and life.

Summary: Your guide to adding value in 2023

Hopefully, you've picked up some ideas on how to add value to your home. Luckily, there are lots of small things you can do to leave a significant impact on potential buyers. If you're struggling for more dos and don'ts, why not check out our guide to home improvements that do NOT add value.