If you’re staying put or considering selling further down the line, it’s time to think business with your biggest asset – your home. These seven simple steps show you how to maximise your home’s market potential - Words Orla O’brien

Given the current economic climate and the uncertain state of the property market, there’s no better time to take some proactive steps to increase the value of your property and keep ahead of the competition.

 

Selling your house might not have crossed your mind or just be a vague future consideration, so by following these simple ideas now you can keep ahead in the property game when the time comes to sell.

Build an extension
According to a survey by the Royal Institution of Chartered Surveyors (RICS), adding a conservatory to your house could add up to a whopping five per cent on to the value of your home. So as well as the extra space earned, there’s the potential to make a tidy profit margin when it comes to selling up. It’s simple common sense to shop around, so make the time to meet with at least five different construction companies to ensure you’re getting the best deal. Check with any neighbours or friends with similar-sized homes in your area who have had extensions built – it can help to get a guideline on what the price should be.

Bathrooms and kitchens
Ensuring the essentials are both attractive and in working order can be the key in making your home the most attractive option on the market. A second bathroom or en-suite can potentially add five per cent on to the value of your home according to a survey by Nationwide Building Society, and a survey by RICS also highlighted that a new kitchen could bring an increase of four per cent, so revamping these key areas of your home can be a very worthwhile investment.

Dos and Don’ts
Do
• Build a new kitchen, bathroom or conservatory
• Add new windows, central heating systems or solar panelling
• Build an extension
• Resurface your driveway
• Use builders and decorators recommended to you by a friend
Don’t
• Be under the false impression that laying new carpets and floors will increase your home’s value – they won’t
• Add a hot tub – this can decrease your home’s value as families with children may have safety issues
• Agree to hire decorators or builders until you have properly checked out all of the competition

Make space
A skip, determination and a day’s hard work can see you thoroughly declutter your home if you’re finding yourself stuck for space. A firm demeanour and attitude of ‘out with the old’ can mean a therapeutic clear out to allow the space for the changes you want to make.

Try to be realistic and avoid irrational attachments to clothes, ornaments and items that you’re not using regularly or will possibly never use again. If you’re looking for backup and/or perspective, enlist a relative or friend to help you decide on what to keep and what to dump.

When you’ve finished with the skip, buy storage boxes, make some shelf space and look at unused cupboards and under beds for unused storage space. The more organised and spacious looking your home is, the more attractive it is to potential buyers.

Bargain
Take advantage of the current economic situation and keep your eyes peeled for bargains, ongoing sales and store liquidations. If you’re spending money with specific suppliers on a new bathroom, kitchen or couches and beds, don’t be afraid to bargain or haggle on price as, with such a competitive market, you’re in the driving seat.

Light it up
Good lighting sets the stage for an attractive room, so don’t underestimate the importance of your lighting arrangement. If your light bulbs are giving off a dim glow, invest in some brighter options to create a brighter atmosphere. Energy saving bulbs are highly recommended and give off a bright glow. A bright and cosy home will create a lasting impression on potential buyers.

Colour scheming
Big, bright and bold colours might add personality to your home but can devalue the price in the longer term, as they can date your interior design. If you want to play safe, stick to pastel shades, ivories and whites to keep a classic, elegant understated look. Lighter tones create a more relaxed ambience but, most importantly, allow a change of décor easily without too much time and effort – a very marketable point.

Make the most of your home’s exterior
Your home will be judged from the outside in, so getting it right inside out is vital. Keep your garden and surrounding greenery manicured – cut back overgrown trees and plants, keep your lawn neat and tidy and driveway and gates in good condition with no weeds or obvious signs of wear and tear. A coat of paint on your home every five years or so will keep it looking in good condition.