The Inside Edge
In recent weeks we’ve looked at the many ways in which homeowners have undertaken work around their property with a view to achieving a higher sale price and hopefully, a quicker transaction when the time finally comes to move on.
Even if you’re not in a position to move just yet, it can pay to look at methods recommended by experts that will actually help to increase the value of your home. But what are the best ways to achieve this?
It’s generally accepted that first impressions are crucial for any prospective purchaser so the front of your property is an important area to pay attention to. Doors, garages and their accompanying accessories can easily be painted or replaced but there are other aspects that you should also consider.
Your front garden, no matter how small it may be is also one of the first things that potential buyers will see and particular care should be taken to bring it up to a desirable standard. It seems however that many UK homeowners are doing just that as a survey carried out by HSBC suggests that we will spend an average of £185.00 per person in improving our own personal outdoor spaces.
The HSBC Gardens Survey has been published just ahead of the launch of the Chelsea Flower Show and it claims that households are not only improving the look of their outdoor spaces for their own pleasure, they are acutely aware of the difference such actions can make for property prices.
“Britain has traditionally had a love affair with gardens but with households facing financial pressures, people have to make difficult decisions about where to spend their cash,” said Peter Dockar, head of mortgages at HSBC. The inference clearly is that more is being spent on gardens than we might have expected.
“The survey reveals that spend on non-essential items has gone down in favour of general improvements, including landscape projects. Improving the general outlook of the garden can not only boost quality of life but also help to increase property value,” Mr Dockar added.
The survey also revealed a big discrepancy in the amount of money spent across the country. In the East Midlands, the highest spend of £253.00 per person is expected in 2012 while at the other end of the scale, those in Yorkshire and Humberside are due to spend just £112.00 on their garden this year.
Overall, however, it seems we are a nation of garden lovers and whether we are conscious of the fact or not, our efforts can help to drive up the price of our property.