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SELL YOUR HOME QUICKLYPrivate sales: A little renovation can go a long way
Recent statistics from Halifax, the UK’s largest property lender, show that house prices have fallen by 0.9% since last year and by 1.3% since last month. This means that it is becoming increasingly difficult for homeowners to fetch good prices for their homes, if they are able to sell at all.
There are, however, some practical ways to lessen the stress and frustration of private sales. One such solution is to renovate your home in a cost-efficient, yet effective manner. You will be surprised to learn how much value a new coat of paint, new bathroom tiles or other relatively simple do-it-yourself projects can add to your home.
According to a recent article in The Telegraph, the availability of off-road parking could increase the selling price of your home by as much as £10 000, while it will only cost about £650 to create. Another example involves paying some attention to your garden – a family-oriented, landscaped garden will cost a seller approximately £900 to obtain, while it can boost the value of a home by up to £6 000! Kitchen or bathroom upgrades are also always a good idea when it comes to increasing the value of a home.
Take note, however, that not all renovations are lucrative. Restoring original chimneys and fireplaces, or putting in a basement are two instances where renovations will not necessarily boost the value of houses that are in the process of private sales. It could, in fact, cost the seller large sums of money without adding any value at all.
The moral of the story has to do with research and budgeting. Speak to experts in the industry and read up as much as possible in order to determine feasibility before you embark on any kind of home renovation. It is also important to consider your budget very carefully – remember, the whole idea behind these do-it-yourself projects is to increase the selling value of your home, not to lose money!
Renovation tips for profitable private sales
Many private sellers have found that they can increase the value of their properties significantly by using the small budget they have wisely. Keep reading for some practical renovation hints.
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