How to boost your property’s value and make it appeal to tenants

Property value concept - wooden block seesaw scale, gold coins on one side, toy house on the other, balancedOne of the most viewed properties for sale on Zoopla last month was a detached family house in the quaint village of Chelmsford. With the listing logging thousands of views, we’re sure this one-million-pound house is gone by now. But just what is it that makes this seemingly simple five-bedroom house so appealing, you ask?

The answer is simple: the better shape your property is in, the more appealing it will be to prospective buyers. The same goes for prospective tenants if you’re a landlord looking to rent out your property. In fact, according to the National Association of Estate Agents Propertymark, in the past five years, UK property owners have spent a total of £41 billion on home renovations, with many of them putting the houses right back on the market either for sale or to let.

Let’s take a look at how you can boost your property’s value with five eye-catching improvements without breaking the bank:

1. Add a bathroom

The aforementioned Chelmsford property has five bathrooms, one for each of its five bedrooms. Who wouldn’t pay more for the luxuries of having their own bathroom, with the choice of leaving your toilet seat up or down? While adding five new bathrooms may be too big of a jump for most of us, another extra bathroom should suffice. For this, you’ll need to think about relocating the plumbing and wiring. Quotes usually start at £3000 for a very basic bathroom, but this varies depending on what you want. Beware of fraudulent home improvement contractors and their “special low prices”.

2. Surpass the Minimum Energy Efficiency Standard (MEES)

As of 1 April 2018, residential and commercial landlords in England and Wales are required to prove that their privately rented properties are rated at least E on Energy Performance Certificates (EPC). Don’t stop there though, fix up your place so it climbs higher on that ladder. Replace old boilers to improve central heating, fit in a thermostat or install a smart meter, convert to LED lights, and adjust insulation for floors, walls, roof and loft.

3. Make the garden a garden

Don’t make your prospective tenants squint hard in an attempt to visualise a garden where they see an overgrown shrub. Trim your plants, remove the weeds and improve the overall image of the property’s garden with a couple of simple touches. Repaint the fence and furniture, lay down some slabs for a path, add some fairy lights, and plant some flowers.

4. Windows, windows, windows

Enough with the quick fixes, a full replacement of the windows to double glazing will reduce condensation, insulate the house against extreme temperatures (and help you save on your bills), improve security, and reduce the noise, which is especially important if your property is in a noisy neighbourhood.

5. Kitchen

Kitchens tend to become the heart of the home, so look at yours. Ask yourself whether friends and family can comfortably congregate in there, and, of course, cook. If not, remodel it to make cabinets accessible, enough counter space for unrestricted chopping, and invest in energy efficient kitchen appliances.

Romain Coleman Landlord Solicitors

If your property is top-notch, you can avoid some typical tenant disputes that tend to centre around disrepair. In the event that you do end up with a disgruntled tenant, as solicitors for landlords, Romain Coleman Solicitors can help. We’ve dealt with a wide range of cases before from dilapidations to possession claims, rent arrears and more. Call us today on 0208 520 4555 to discuss how we can help you.