Have you ever wondered how you can really invest in a property to make the maximum profit?
"It doesn't matter what time of the year it is, or what state the economy appears to be in, there's always going to be someone looking for a new home…." And that's great news if you're planning to sell according to TV's interior design duo Justin Ryan and Colin McAllister.
"However, with the averageprice of a UK property falling, it's more important than ever to make sure that your home stands out from the crowd and that you, as the owner, are a confident and successful salesperson. So what's the best way to transform your home from stagnant stinker to divine des res? Simply follow our ten profiteering commandments and you'll soon be scrambling up the property ladder and making valuable cash into the bargain…."
1. Know Your Market
The trick with any investment is to know your market and produce an appropriate product. And the same principle applies to home selling. Quiz your local Estate Agent about what's selling, and then follow their advice. Could it be, perhaps, that your three-bedroom house is in an area where young professionals without families are buying? And therefore, as a result, your third bedroom might appear more valuable if dressed as an office? Conversely, if your home is in a family area with great schools, then the number of bedrooms is probably one of the most important aspects to potential buyers. So do your research and dress your home accordingly!
2. Watch your purse
Check out similar or higher priced refurbished properties in your area and take note of room configuration and the quality of each refurbishment. This will stop you, for example, splashing out on an expensive designer bathroom if the profit margin doesn't really allow for it. Choosing between major and minor home improvements can also make a big difference on the return of investment with modest renovations, which keep you safely within neighbourhood averages, often yielding significantly higher profits than mega-makeovers.
3. Spend Wisely
Kitchens and bathrooms are consistently rated as the best places to spend your renovation budget…. However, as with all home improvements, the trick is to balance outlay with quality. Don't overspend but also don't cut corners. A well-designed kitchen or bathroom will offer a huge return but the trick is to dish the dosh visibly! So forget that tempting two thousand pound tub and opt, instead, for great door handles and a killer sink. Similarly, don't splash out on designer genuine gold mosaic for your bathroom if tradition shows that even the most expensive refurbishments only reaps a few thousand pounds.
To avoid costly mistakes, if your focus is simply profit, then modesty really is the best policy! And, while you're at it, make sure your space smells fresh so not to put off potential buyers. Try Ambi Pur's Odour Naturizer collection of fragrances made with natural extracts for clean and fresh, less aggressive fragrances - the perfect finishing touch to any bathroom. And not only does the range offer beautiful fragrances, but they also neutralise odours and freshen the air, providing you with a complete fragrance experience.
Enjoy three refreshing Odour Naturizer variants in the innovative Ambi Pur Total Fresh device, which provides a complete bathroom solution. Ambi Pur Total Fresh is a unique product that not only helps clean inside your toilet but continually fragrances the whole bathroom too (£2.99 RRSP from all good supermarkets).
4. Reach for the paintbrush
One of the cheapest and easiest ways to add value is via a fresh coat of paint. So add some elbow grease to the mix. Prepare your area properly - remove flaky paint, sand timber and don't think that your expensive 'heritage' paint will look just as good over woodchip - it won't! So remove all dated, negative elements before your transformation begins. Potential buyers prefer light, neutral colours but don't be afraid to add colour through artwork or soft furnishings - doing this will banish the bland and make your home grand!
5. Go With The Flow
Make sure your plans involve visual continuity from room to room. Ask yourself, 'does this style of kitchen go with the dining room?' or 'does this hallway scheme work well with the lounge?' Plan all this before you start renovating. If you're considering a major project, consult with an architect to ensure that potential additions blend seamlessly with the rest of the home and add to its accommodation and overall beauty. And remember, poorly matched additions can decrease market value, so please no UPVC conservatories plonked onto Georgian townhouses…!
6. Create Kerb Appeal
Give your home valuable pavement presence by making sure that the exterior, your home's first impression, is in tip-top condition. Check and repair windows, doors, brickwork and the roof and make sure your front garden is clean and tidy. Oxford Blue, British Racing Green and Black are all great front door colours and don't forget to ensure your door number and street name are visible to passing trade. The last thing you want is a perplexed buyer going off without viewing because they couldn't find you!
7. Balance Mass Appeal With Style
Don't be too individual if optimum marketability is your thing. But, on the other hand, don't paint it all beige either! Good taste is always worth more than no taste, but avoid too much customization so potential buyers can picture your home suiting their needs. This means that your faithful Artex recreation of The Palace of Versailles, which currently dominates your front room, is actually valueless! Yup, one man's meat is another man's poison. Home selling fact!
8. Fresh is Best
If you can't afford to fully renovate your home, but still want to turn a profit, then the best you can do is clean, stand back and then clean it all again. Spruce homes tend to be interpreted as loved homes and potential buyers will shell out more for these. Much like a car showroom, polished vehicles will sell for more than those in a dingy backstreet lot.
Make sure you eradicate all unpleasant smells - pets, toilets and ashtrays - and replace them with fresh and welcoming aromas like Ambi Pur's 3volution fragrances. Why not tempt potential buyers with the Lavender fragrance of Relaxing Countryside, made with Lavender essential oils, or the refreshing fragrances of Blossoming Flowers or Fresh New Day, both made with pure perfume essence. Ambi Pur 3volution combines three alternating but complementary fragrances. The three fragrances are released in a continuous cycle, one after the other, every 45 minutes so you always notice the scent (£7.99 RRSP for a primary unit and £4.49 RRSP for a refill, from all good supermarkets and Independent Retailers).
9. DFY versus DIY
If a job's worth doing, it's worth doing properly so be realistic in terms of what you can personally do to a high standard. Remember, botched DIY jobs actually devalue properties as potential buyers will spot 'Bodjit and Scarper' standards a mile off! For jobs that are out of your skill range, opt for the DFY (Done For You) approach and leave it to a man (or woman) who can! OK, so you'll be paying for it but your investment will reap rewards later….
10. Spread your Spend
Don't neglect the rest of the house just because you've spent a little extra, for example, in the kitchen. OK, so you may have made it beautiful but your labours will be compromised if other rooms have cracked plaster and dreadful 1970s shag carpeting. Make sure your entire home is updated to a good level and spread your renovation budget accordingly.
The article Profit from Property - The Ten Commandments originally appeared on 999 Today


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