Tag Archives: Leicester property

house valuation Leicester

Looking For A House Valuation In Leicester? Here’s How You Can Increase House Value

You might be considering looking to sell your property in Leicester soon, or you could just be exploring the options, but no matter what, it pays to be able to know how to increase your house value. At Open House Estate Agents in Leicester, we offer a specialised house valuation service in Leicester, conducted by local property experts who truly understand the housing market in and around the area. As local estate agents, we can provide you with an accurate understanding of the value of your home, and provide you with all of the knowledge and advice you need when it comes to selling your house in Leicester. With plenty of experience under our belts, we know exactly what it takes to truly make your house shine and stand out from other properties for sale in Leicester.

If you want to work your way up the property ladder, knowing how to add value to your property is crucial. Although large renovation projects might seem like the most obvious choice when it comes to increasing the house value, in fact, there are plenty of basic structural and cosmetic repairs that can also be made. 

Addressing Structural Issues In Your Home

Structural issues will always have a huge impact on the value of your home, so before you arrange an official valuation for your Leicester property, if possible you should address these issues as a priority.

Many people make the mistake of glazing over the issues with some cosmetic improvements or internal work such as fitting a new bathroom or kitchen. However, structural issues will always end up causing further problems down the line, so although they are likely to be one of the most costly fixes, they are essential to fix. 

Examples of structural problems in your home could be: 

  • Leaking or sagging roof 
  • Damp
  • Collapsed floor slabs
  • Broken or missing roof tiles 
  • Bowing walls 
  • Structural wall cracks 

Calling in a builder, structural engineer, or a surveyor is advisable if you would like to determine any major structural issues that should be fixed.

Installing A New Heating System

If someone is looking for houses for sale in Leicester or indeed anywhere else, they are going to be looking for unique selling points that make a particular house stand out from the rest. With this in mind, updating the central heating system is a great way to increase property value and give your property a unique selling point (USP). Often older houses either have no central heating system at all, or they have an old-fashioned one. By updating the system to a modern one, you can help to improve the general efficiency of the property. 

Whilst installing a new heating system, you should ensure the boiler and radiators are in good working order. If you are looking to add some further USPs to your property, looking at underfloor heating systems and heated towel rails may also be something to consider. 

Rewiring Your Property

Before you complete any cosmetic improvements, updating aspects such as the wiring and plumbing of your property beforehand is essential. 

Updating the electrics is even more important if the house has not been rewired for a long time. You should be able to determine whether this is the case by looking at the meter. If the electrical meter has an old fuse box, it is likely the house requires rewiring and is in need of a modern consumer unit with a Residual Circuit Device (RSD) for safety reasons. You should also look at adding extra sockets in rooms that are scarce with them. A room with plenty of sockets means that the furnished layout is flexible, making the house much more appealing to prospective buyers. During the rewiring stage, you could also update any lighting and extractor fans for bathrooms. 

Plumbing systems should also be looked at too, as old pipework can become corroded, and as a result, impact the hot and cold water flow, and lead to burst pipes. Pressurised plumbing systems are often favoured over gravity-fed ones as they eliminate the need for header tanks. As a result, freeing up much more space and promising good pressure for both hot and cold water supply. 

Loft Conversions 

Loft conversions typically cost around £500-600 per m2, and usually make fantastic investments due to adding at least one more room to the property. Although you will also need to consider making room for a staircase, a loft conversion certainly adds more space than it takes away. To truly enhance the space, you can add in roof lights and dormer windows. Loft conversions add an element of authenticity to a property and are a great way to work with the space you have already got.

Decorating 

Decorating your home is certainly going to be one of the most obvious routes you can take when it comes to adding value to your property. However, it should all be done in due course, and only considered once the above aspects have been addressed first. 

Typical defects that can and should be resolved include: 

  • Peeling paint
  • Broken door latches
  • Lifting flooring 
  • Creaky stairs 
  • Mouldy sealants
  • Sticking doors and windows
  • Dripping taps 

Alongside resolving any of these issues, you could also look at ways to freshen up the bathrooms and kitchens – this could be through the fitting of new tiles, flooring, shower screens, and blinds. 

Small defects won’t necessarily affect your property valuation, however they can let your property down in the eyes of your potential buyers – especially if your property is up against a property that doesn’t have these superficial defects. Defects can also be a reason to ask for a lower buying price. As part of our Leicester property valuation service, we will make any recommendations that we think will add value to your home. 

Showcasing Original Features 

Take a look at your building’s origins and its construction to determine the original features that the house already holds. 

Some features worth considering include:

  • Original fireplaces
  • Stair banisters and handrails
  • Period-style windows
  • Panelled doors 
  • Timber beams 

Many houses lose potential by not exhibiting these original features in the right way. However with a bit of restoration or replacement work, you can increase your property’s value significantly.

Leicester House Valuation Services

If you are looking for a house valuation in Leicester, then look no further than your local estate agents, Open House. We offer a free house valuation for all Leicester properties, so you can determine the value of your property and how you can improve it. 

If you would like to find out more about our property valuation services, or our landlord services, then head to our website today. Alternatively, you can call 0116 243 7938 to speak to a member of our helpful and friendly team.

If you have found this blog helpful, then you may wish to read our previous blog on Landlord Services: Keeping Your Maintenance Costs Down Low.

buy to let property

What to look for in a Leicester buy to let property

buy to let property

What to look for in a Leicester buy to let property

Buy-to let investments can be an exciting and potentially very rewarding, but should be entered into with the same care and strategic approach as setting up a small business.

Do your market research

As with any business you need to establish your competition before you set up shop. Target a relatively specific area you are interested in and monitor it using 24 hour updates on sites such as Rightmove and Zoopla for both sales and lettings listings. Provided your area is a manageable size you should very quickly start recognising street names and price trends.  This will make it much easier to spot a good potential investment when it turns up.

Speak to property professionals

With an estimated 1.5 million landlords in the UK, there’s a chance you know someone who is already a property investor and they may be able to give you some valuable tips and advice. Letting agents can also be an invaluable source of information as they are best placed to know the market and to give advice on what’s letting as well as emerging opportunities.

‘Location, location, location’

The location of the property is critical in determining the success of your buy to let property adventure. Consider the proximity to the local amenities, such as schools, transport links, shopping centres, restaurants and parks. Are these amenities important to the tenants you hope to attract? If you identify young professionals as your target market, they are likely to be interested in being close to the train station or on a bus route and this may influence their decision to rent certain properties. Get it wrong and your property could lie empty for long periods and present a potentially precarious situation financially.

buy to let property

It is a numbers game

Competition for any good investment is likely to be fierce. If no one else is looking and interest seems low then you need to consider why this is. I would always recommend ensuring you have found a mortgage and have a clear investment budget before you start looking.  Buy to let property hotspots are a sellers’ market and you are unlikely to be a preferred bidder without all your finances in order.

The great outdoors

Outdoor space will be very attractive to some tenants, particularly families with young children and young professionals who are keen to entertain in the warmer months. It might be a garden, a balcony or some other form of outdoor space, but this can be a real selling point when it comes to finding an ideal rental tenant. Depending on who your target audience is, may depend on whether or not outdoor space is important.

Property type

Two-bedroom houses and flats are ever popular and appeal to a wide range of potential tenants, especially those who are finding it tough to get on to the property ladder. Large family homes can command large rents but they appeal to far fewer potential tenants. It may also be worth steering clear of period properties too, avoiding high costs on maintenance when things (inevitably) go wrong. Newer homes will require less maintenance – but watch out for service charges.

 

Contact Open House Leicester today for consultancy advice on making your money work best for you.

Top tips to sell your property