How to add value to property in Kidderminster
I was contacted by a client recently who was interested in buying a property in Kidderminster with the specific aim of adding value to it before selling it on.
He wanted to ask my advice about whether adding a conservatory or small ground floor extension would be worth the investment to increase the property’s value.
Like other parts of the country, the main issue with the Kidderminster property market currently is the lack of houses on the market.
With that in mind, my first piece of advice was that rather than extending, it would probably be more cost-effective to refurbish the house to a really high standard so it has the wow factor.
With so few houses on the market at the moment, if you can make people’s jaws drop when they cross the threshold you can be confident of getting a good price for your property.
However, it’s a different matter if you are looking to rent the property and I wouldn’t recommend a high-spec refurb if you are looking to do this – just making sure everything is clean and in good working order is more appropriate in that case.
When it comes to adding conservatories and extensions, as a general rule, conservatories don’t necessarily increase the value of the property – it depends on the individual buyer as to whether they see it being a benefit. Some people may prefer the extra space in the garden than having a conservatory, and it can come down to individual taste.
Regarding an extension, it’s a case of weighing up the economics. For instance, increasing the size of the kitchen to make a top-quality kitchen diner would increase a property’s value, but quite possibly not by as much as it would cost you to do the work in the first place.
As always, individual properties and areas will have their own quirks, so please get in touch if you would like any advice about your own circumstances. Just drop into the office in Coventry Street or give me a call on 01562 745082.