Home insurance - Tips & Advice - Buying and selling property
If you’re planning to do up your home before putting it on the market, there are some steps you can take that will make it more attractive to potential buyers…
All the experts agree that there are certain things you can do to make your property more likely to sell quickly or at the price you are looking for – and others that will make no difference whatsoever. When deciding what’s worth doing and what isn’t, try to set your own preferences aside and put yourself into the buyer’s shoes.
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First impressions count: make sure your front garden (if you have one), fences and hedges, driveway and front door are all clean and tidy. And if your hobby is fixing old motorbikes, try not to leave engine parts lying around!
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A lot of people looking around a property will focus on the obvious, so prioritise areas that a buyer will notice at first glance and spend money on those. Peeling paintwork, stained carpets and a roof that’s missing several slates are all off-putting and spending time and money on this type of maintenance will at least pay for itself.
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There is a tendency to think that because new owners will want to redecorate, the decor isn’t that important. But even if people do plan to replace all the carpets and re-paint every room, it usually takes them longer than they expect to get round to it, so it helps if your house looks ready to move straight into.
- Think about your property and the potential buyers it is most likely to appeal to. If it’s a city flat, money might be best spent on a kitchen with all mod cons; if it’s a family home, a second bathroom might be of more importance; and if it’s most suitable for retired people, a small, well-kept garden could be top of the list. All these are generalisations, of course, but it helps to focus on which aspects of your property most need improving.
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If you’re planning to undertake major changes to your home before selling it, most experts suggest that you opt for something which will benefit you while you’re still living there – don’t assume any renovations will necessarily pay for themselves.
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Improving your kitchen is almost always a good choice. Kitchen-diners are particularly popular at the moment and these require plenty of work surfaces, high-quality flooring and reliable new appliances.
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An open-plan feel to the house is also on many people’s ‘wish list’. Fewer large rooms rather than lots of small self-contained ones could be the way to go, so as long as it’s not adversely affecting original features you could look into the possibility of knocking down a wall or two and opening up some bigger spaces. ‘Space’ and ‘light’ are two buzz words and anything you can do to increase them – or even increase the impression of them – will add value to your property.
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Storage: we all have so much accumulated junk these days that garages, sheds and attics – unless they need to be converted into an extra bedroom – are all useful places in which to keep things.
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The final touches: whether you’re undertaking large-scale structural changes or applying a simple lick of paint, don’t underestimate the effect of some cosmetic finishing touches. Keep your house as light and airy as possible, tidy up clothes and your personal junk and hide signs of pets (cat litter trays, dog bedding etc). Do everything you can to make your property appear as if new owners could move in the next day – for most people, the less work they think they will have to do, the more attracted to it they are likely to be.
If you are renovating your house – even if it’s solely with a view to selling it – you’ll expect its value to increase, so you’ll be pleased to know that Direct Line’s buildings insurance covers up to £1 million (this cover is unlimited with Direct Line Home Insurance Plus) in rebuilding costs. With Direct Line Contents Insurance, you will automatically receive up to £50,000 of contents cover (this can be increased if necessary), so, if you’ve bought new appliances, you can use our handy
calculator page to help you work out exactly what you require.
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