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Is It A home or a Deal?

An Estate Agent’s legal obligation is to get the best possible price for the property they are selling. So, as sometimes happens, when a client asks what works should, or could be undertaken to improve a property’s value, we need to make a judgment call of cost, versus benefit.

This judgement isn’t something that we take lightly as we wouldn’t want a customer paying out thousands only to receive the price quoted before the works were undertaken, because let’s face it, Southsea is a small place and bad reputations travel fast.

New kitchens do make a difference, but it’s often the case that new work surfaces, or re-painting wooden doors can often give a
much-needed facelift, without spending a lot of money on an entirely new kitchen. A property I sold recently for the fifth time in my career, believe it or not, has the same solid wooden units but over the years the kitchen has had several new work surfaces and lots of coats of paint.

Adding additional bedrooms through a loft conversion can make a healthy difference and the best returns from loft conversions tend to be when the master bedroom is also fitted with an en-suite. However, any addition and any hike in value, is going to have to be justified by a buyer’s surveyor – if the house is to be sold.

The other consideration… ‘is it a home, or a deal?’ if you’re thinking of moving in the near future, then there’s probably going to be monetary difference between renovating for the short term and the long term.

Those jobs you’ve been putting off for years will no doubt need doing in order to achieve the best price, but why not do them anyway and enjoy the result? A recent client who told me they’d been putting off renovating the bathroom and kitchen, for fifteen years, needed to replace both in order to achieve the best price for their house, their only regret was not getting to enjoy the improvements themselves.

Light and bright homes, tidy gardens and first and last impressions are the basic essentials to make a home as appealing as possible and to achieve the best price. But, most important of all, is to get sound advice from established, experienced estate agents who have integrity and know the market, so perhaps make that your first priority!

Best wishes to all readers for 2022 from myself and all at Fry & Kent and we look forward to seeing you during the course of the New Year.

 

Neil Maxwell


Posted in: Articles, Home & Garden