How can decorating a property add to its value?

Renovating

If you have invested in property as part of your overall portfolio, then this still remains a smart move. Although many continue to wonder how Brexit may affect things in the future, for now it hasn’t actually been a problem at all.

Recent figures on the state of the UK real estate market show that it has the second-highest amount of investment out of all European countries at €64bn between Q4 2016 and Q3 2017. With UK house prices also rising, it is still a good place to invest money. Figures on the UK government website show that house prices have risen overall by 4.9% across the nation in recent times.

Of course, this still means that you need to invest in the right property in the right area to get the best return. Along with this, it is also worth considering other ways to add value to any property investment. One effective way that many investors will do this is by decorating the house or flat that they have purchased to add resale value to it.

Why should you consider adding value by decorating?

Firstly, a well-kept property that looks fresh and modern to viewers will always attract a higher sale or resale price. This is especially true if you have invested in a tired-looking place, which will really see its value go up through a well-thought-out decorating job.

Decorating is also relatively cheap if you keep it simple. This actually adds to the overall value and means that you keep more of it as it doesn’t cost as much to carry out. This is even truer if you can do the work yourself as you spend nothing on labour costs.

Of course, decorating may incorporate fairly simple renovation work that you could also undertake yourself or through a contractor whose prices are not too high. Creating an extra space through simple partition walls, for example, will bump up the property value as it has more of the rooms for which people will pay extra. Even simple cosmetic decorations can give a property more of what potential buyers are looking for to attract a better sale price.

The last reason that you will add value to any property through decorating is that the buyers will not have to factor doing it themselves into the offer that they submit. As they will not have to spend money on decorating personally, this means that they will have more money to spend on the property instead.

How can you decorate your property to add value?

Now that you can see why decorating your property is a great way to add value, here are some simple tips to do it:

  • Stylish shutters – a simple, inexpensive yet very stylish decorating tip for any investment property are window shutters. From funky café-style shutters to keep passers-bys from peering in to stunning tier-on-tier ones that allow you to effectively control light levels into a room, this is one effective way to update any property to get more for it.
  • Well-kept garden – it is not just inside that you need to think about. Completing easy cosmetic decoration work in the garden will also add value. From keeping the lawn cut to adding a patio set to sit on or plants in pots to brighten it up, this will see you get more of a return on your investment. Figures have shown that garden maintenance work can see an 88% return on the cost of having it done!
  • Exterior work – as well as the garden, do not underestimate the effect that the façade of your house has on price. If you have broken tiles, an overgrown path, or peeling paint on your front door, then you will not get as much for it. Sort out simple jobs like this and make sure that you get the best price that you can for it.
  • Update carpets – worn and tired carpets in halls and rooms can hit the value of your property. If you have purchased a house where this is an issue, then invest in fitting some new carpets where needed. This will create a much better impression and see you get much more for your property when you sell.

Decoration is an investor’s friend

As an investor in property, you need to find ways to make your property more attractive to potential buyers that do not cost more than the value that they may add. While more substantial works such as erecting a conservatory could be considered, very often simple decorating tips such as the above will give quick, hassle-free ways to add value to any house or flat.

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