How to Add Value to Your Home
THE BESPOKE SIGN HOUSE 2024 PROPERTY GUIDE
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Table of Contents
1. Introduction
2. UK Renovation Statistics
3. Why Renovate
4. Our Key Findings
5. What Adds Value to a House in 2024
6. 10 Budget-Friendly Ways to Add Value to Your Property in 2024
As the housing market in Britain faces its fair share of ups and downs, there's a growing urgency among homeowners and investors to make the most of their properties. With UK property prices predicted to dip by 4% this year, savvy homeowners are seeking innovative ways to add value to their properties in the most affordable and profitable way. The quest to maximise property value requires trusted guidance from industry experts who understand the nuances of real estate trends.
Whether you're looking to sell or simply enhance your living space, The Bespoke Sign House’s How to Add Value to Your Home Guide features insights from leading specialists, each bringing invaluable knowledge and experience to the table. From trusted Mortgage Advisers providing financial insights to Kerb Appeal Specialists to Architectural Technologists and Landscaping experts shaping innovative property designs, these professionals offer practical advice rooted in real-world expertise. With their collective insights, homeowners and investors can navigate the challenges of 2024 with confidence.
UK Renovation Statistics
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WREN KITCHENS54% of buyers judge property on its exterior within 30 seconds of seeing it.
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HOME OWNERS ALLIANCE68% of homeowners say kerb appeal was important to their choice of home.
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SOLD.CO.UKA well-maintained garden can add up to 20% to your property value.
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SOLD.CO.UKA landscaped garden could add up to 77% to the value of your property.
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Lottery Winnings
1 in 5 Brits said they’d fit a new kitchen if they won the lottery; while over one in six said they fund garden improvements. (Postcode Lottery)
Top Planned Works of 2024
Bathroom remodels (33%), kitchen upgrades (28%) and exterior facelifts (26%) top the list of homeowners’ planned works for 2024 (Property Wire).
Simple Kerb Appeal Boost
52% of homeowners think a well maintained and attractive front door is important (Home Owners Alliance).
Refresh Your Home
Brits pay 25% more for a home that's recently been painted (Dulux)
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PROPERTY WIREA third of home owners are renovating their home in 2024 to increase resale value.
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THE ECO NEWS45% of home owners made their homes more energy efficient and environmentally friendly last year.
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THE ECO NEWSSaving money is homeowners’ top reason for installing eco improvements in 2023.
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FIN SPACE GROUPRedecorating could add up to nearly £30,000 to an average UK property.
Why Renovate?
Renovating your property transcends mere aesthetics; it's a strategic investment, boosting value over time. The housing market may be fluctuating, but that doesn't mean the power of making smart renovations diminishes. In fact, it can be your secret weapon for navigating uncertainty and maximising your home's potential. While a potential price dip might temporarily shift your selling plans, think about how to add long-term value to your home. Don't be intimidated by large-scale projects. Start with incremental changes that fit your budget and timeline.
While personal style plays a significant role in creating your ideal living space, maximising property value and marketability requires a deeper understanding of current trends and buyer preferences. That's where industry experts come in, armed with their unique insights and market knowledge.
Throughout this guide, you'll encounter the valuable perspectives of experts who have their fingers on the pulse of what truly adds value in today's market. They'll guide you through strategic renovations, suggest sustainable upgrades with long-term appeal, and help you incorporate features that resonate with potential buyers, ensuring your home stands out from the crowd.
Meet the experts
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Kristian Goodenough
Co-Founder of The Bespoke
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Tom Atkins
Senior Architectural Technologist
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Phil Knott
CEO of Genesis Gardens & Landscaping
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Mark G
Mortgage Consultant
Our Key Findings
Wait for the Market Correction
UK Property prices are expected to continue falling in 2024 due to high mortgage rates and cost of living, but should recover in 2025.
Think About Your Selling Strategy
Those needing to move (upsize/downsize/relocate) may not benefit from waiting to sell as price drops/rises will likely be similar for both buyer and seller. Owners not needing to buy should consider holding off until the market recovers, but factor in ongoing property costs.
First Impressions Count
Imagine a potential buyer approaching your home. Think of this as their first handshake: chipped paint, overgrown shrubs, and a lacklustre mailbox create a negative impression, instantly devaluing your property in their eyes. Making small changes like a fresh lick of paint, a welcoming house sign and a well-maintained garden will significantly improve the perceived value of your home.
Don't Forget Outdoor Living
Don't just sell a house, sell a lifestyle! Functional, stylish outdoor spaces are a strategic investment for attracting buyers. Create a space like a patio or deck with eco-friendly materials, raised vegetable beds or water features. Think about a space you want to create that you could use during the summer months.
Upgrade the Front Door
A well-maintained, modern front door in a neutral colour is a cost-effective way to enhance Kerb appeal and value.
Address the Basics
Updating outdated finishes like worn carpets or broken tiles, especially in kitchens and bathrooms, signals to buyers that your home is well-maintained and cared for. This will instantly give your home a face lift and boost perceived property value.
Maximise Storage
Utilise unused spaces like basements or lofts for built-in storage, appealing to potential buyers.
Prioritise Sustainability
Consider energy-efficient upgrades like insulation, new windows, or renewable energy systems for a significant selling point.
What Adds Value to a House in 2024?
WHAT THE EXPERTS SAY
Kristian Goodenough
CO-FOUNDERS @ the bespoke sign house
How crucial is kerb appeal in influencing the overall value of a property?
When it comes to a property's value and charm, the impact of kerb appeal can't be overstated. It's that first glance that can sway the impression of a property, and if you’re looking to sell, your properties exterior can be a warm handshake to potential buyers.
The initial impression influences not just how an area or road is perceived, but a buyer's opinion on not just their view on the property's worth but also the emotional bond they might develop with the place.
When a home's exterior looks inviting and well-kept, it suggests that the same level of care has been taken indoors, possibly leading to better offers and a swifter sale.
Can you share practical tips on cost-effective outdoor enhancements that have proven to increase property value?
When looking to enhance the exterior of a property, a bit of elbow grease and enthusiasm can make a world of difference when on a budget.
Adding a fresh coat of paint on the windows, walls, fences and especially the front door can instantly lift a home's façade, giving it a more contemporary and well-cared-for appearance.
While small improvements to cosmetic details can go a long way to improve the properties overall aesthetic, consider adding or replacing an old house sign to give the property a welcoming first impression. Tidy away outdoor bins, trim back overgrown bushes, cut the grass, pull weeds from the paths, and spread some fresh mulch over flower beds will turn a once overlooked space into an inviting entrance.
All these cost-effective enhancements will go a long way to presenting it as a well-loved home.
How can the choice of a front door significantly influence the kerb appeal and overall value of a property? What styles or materials are trending?
The front door is a key component to any property, and there can be a lot to consider, such as a doors strength, thermal efficiency and aesthetic.
For character properties and traditional homes, wooden doors are most favoured, often giving a timeless and sophisticated appearance. Wooden doors can be painted to enhance the home's character. Natural colours with an organic appearance are the most popular, with many homeowners choosing soft blues, olive greens or greys for their home. If you’re looking to make an impression, bolder colours such as yellow and red can be used, but if you’re looking to sell, it’s always best to keep things neutral.
For more contemporary homes, aluminium doors are a popular choice. Aluminium is very robust, offering greater security compared to their wooden counterparts, while also able to hold larger glass panels that let in more natural light, blurring the lines between the outdoor and indoor spaces.
These options don't just vary in looks but also in how long they last and how much upkeep they need, which is a consideration for homeowners when making their choice on door style and material.
What exterior enhancements around the entrance area, have you found to be particularly effective in creating a lasting impression and increasing property value?
It’s widely recognised that colour has a profound impact on mood. Adding colour through flowering pollinator-friendly plants in the garden, or around doors and windows by utilising pots, window boxes and hanging baskets can further enhance the property's charm, giving the appearance of abundance and luxury.
A water feature such as a small pond or fountain is another addition which can convey sophistication and tranquillity, while adding strategic outdoor lighting doesn't just make the property safer, but can spotlight the architectural beauty of a property.
These enhancements do not need to be expensive additions to be effective, but if well thought out, they will do wonders for creating a lasting impression, while increasing a property's perceived market value.
Tom Atkins
Architectural Technologist
What architectural styles are currently in demand and likely to enhance property value in the upcoming year?
Instead of looking to replicate the past, there is a greater focus on taking inspiration from past architectural styles and adapting these for modern living, incorporating modern construction methods and design ideas. This has resulted in a simplification of the external facades, with fewer materials, cleaner architectural lines, and unfussy detailing.
Internally, open plan living is preferable with large multi-functional spaces, utilising natural light with large areas of glazing and roof-lights linking internal spaces to outside.
Can you share cost-effective renovation strategies or design modifications that have proven to increase property value based on recent projects or industry insights?
Updating any out of date or tired décor is a great start before focusing on bigger projects such as a kitchen renovation or extending the property. Make the property clean and neutral, repairing or replacing any old fixtures and decoration such as broken tiles, faded carpets, or dated light fittings, and ensuring all major maintenance issues are resolved.
Kitchen and bathrooms are very important areas to prospective buyers and therefore consideration should be given to if these areas need a full renovation.
Storage is often also an issue, making the most of the space you have available providing built in storage is a great selling point and makes the most of areas that otherwise go unused.
Maximise kerb appeal by keeping on top of any maintenance to the front of the property, including garden and drive areas, façade, and external doors & windows (with specific attention to the front door). Larger renovation projects can be a great way to add value and can utilised redundant areas such as basements, loft spaces, garages, or additional land to the side or rear of the property, however, consideration needs to be given to whether or not removal of these areas will be detrimental to the property overall, for example, removing much need storage or amenity space.
What architectural elements or design features act as unique selling points, setting a property apart and potentially raising its perceived value in the market?
With the drive toward net zero there is a lot more focus on sustainability and how we can integrate these requirements into the design of new and existing buildings.
Any improvements that can be carried out on a home to improve the fabric performance and integrate green technologies will be a great selling point. This can include insulating and improving the airtightness of the buildings fabric (i.e. floors, walls, & roofs), replacing old doors & windows, or installing a renewable heating or power system such as an air source heat pump or photovoltaic panels.
Are there any modifications in your opinion which devalues a property?
This is often subjective, however, any modifications needs to be neutral and compliment the property. For example, if the property has period features, removing or covering these up will lose part of what makes these types of homes appealing. Bold or personal decoration can also be off-putting to prospective buyers, although it may not be exactly what you would choose, a neutral palette will appeal to a wider audience.
Similarly, big or expensive features do not automatically guarantee a return on investment and need to be relative to the property and its prospective buyers.
Any larger alterations need to add value and not detract from the existing space available. For example, the introduction of a walk-in wardrobe or an ensuite can be highly desirable, however, if to achieve this a bedroom needs to be lost or compromised, prospective buyers will likely look at these as unfavourable. As a result, balance needs to be struck between grandeur and functionality.
Phil Knot
Owner @ Genesis Gardens & Landscaping
What are the key considerations homeowners should keep in mind when planning landscaping projects to maximise property value?
It is imperative that careful consideration is given to the overall design and that it is created avoiding ‘tick box’ features. The scheme as a whole should best utilise the available space to be both attractive and functional. The choice of building & landscaping materials is also important to compliment or contrast one another well and of course the property too.
The use of re-cycled materials and ecologically friendly solutions is important and could certainly add value to a scheme. Despite the outlay, it can make good sense to engage a Garden Designer to create a garden plan that works on all levels.
Can you provide insights into how plant selection and landscaping choices can contribute to increased property value?
Choosing the right plant for the right position is key. Knowing the soil type, as well as acidity/alkalinity and condition (improving as necessary) will help determine suitable planting.
Consideration should definitely be given to the aspect of the garden and any existing features in the garden or nearby such as tree canopies, walls, topography of the landscape. Without exploring these points will almost certainly lead to planting that will fail, disappointment and wasting money.
Planting with inappropriate spacing or poor choice of cultivar may result
in overcrowding or plants and trees that spread or grow far too big for the space.
How can the incorporation of water features like fountains or ponds, influence the perceived value of a property?
Water features nearly always add value to a garden if positioned and installed well. Whether a small pebble pool or fountain either will give the calming sound of trickling water. If the garden allows space for a formal or wild life pond, both will create interest throughout the year and habitats for many species of insects.
How does the inclusion of vegetable or herb gardens influence property value? Are there specific types of edible landscaping that are particularly attractive to potential buyers?
Many years ago vegetable gardening was probably one of the prime uses of the garden. It’s encouraging to see the recent surge in interest with many households now growing at least some vegetables.
If the space allows for a dedicated vegetable area with the inclusion raised beds, composting facilities and possibly a greenhouse I’m sure this would add value and be attractive to most buyers subject to their lifestyle.
Thought should be given to the individual property area and garden size to weigh up to what extent a vegetable garden could be an asset. An area for cultivating herbs even in pots is always attractive & beneficial if space is limited.
How do you see the trends in outdoor living spaces evolving in 2024?
The ecological trends will continue to grow; using recycled materials, less concrete and solid paved areas, solar lighting, composting, cultivation of edibles & using plants that benefit pollinators and wildlife.
Some homeowners are still wanting low maintenance garden options and are using artificial lawns in pursuit of this. Although there can sometimes be a small area of a garden that artificial grass might benefit in general natural lawns, whether cultivated or wild flower will remain the choice for most. There will continue to be interest in economical irrigation and both features & planting in consideration of drought conditions such as Mediterranean themed gardens.
Mark G
Mortgage Consultant
Do you see property prices falling even more this year? What is the main reason for this?
The general feeling in the industry is that property prices will continue to fall throughout 2024, by how much is very hard to predict. This can be attributed to high mortgage rates and high costs of living. It’s expected they will recover going into 2025.
A year or two ago, it would be common for properties to be sold at above the listed price. Now I see more properties being sold at just below, or for the asking price. Again, this is possibly due to the higher interest rates, and the cost of living.
What advice would you give to anyone planning to sell this year?
There are a couple scenarios to consider. If you are looking to sell and purchase a new property, the property price drop/rise will be relative. The price drop/rise difference between the property you are selling and buying will be similar as a percentage and there wouldn’t be much to gain from waiting to sell.
Many people I speak to are in need of moving to relocate, or have a need for a larger/smaller property and do not always consider the prediction for house prices going forward. This need drives the decision to sell rather than getting the absolute most for the property.
The second scenario would be people who are just looking to sell and not purchase again. This could be landlords, second/holiday homes, moving in with a partner etc. They may decide to wait until property prices recover to get more for their property. However, the longer you keep the property you will need to consider the running costs whilst keeping it for the extended period of time.
10 budget-friendly Ways to Add Value to Your Property in 2024
Even in a changing market, significant value can be unlocked in your property. We've curated 10 quick, budget-friendly tips in this guide to help you achieve this. From cost-effective upgrades to space-maximising strategies, these actionable steps allow you to make informed decisions and enhance your home's appeal:
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01 | DIY Deep Clean
A sparkling clean home with gleaming floors and sanitised surfaces is a low-cost way to impress potential buyers.
02 | Furniture Layout
Rearrange furniture for better flow and functionality. Add pops of colour with throw pillows or accent rugs for a refresh.
03 | Declutter
Declutter rooms, remove personal items, and create a neutral palette to help buyers envision themselves in the space.
04 | Upgrade Light Fixtures
Swap outdated light fixtures for modern, energy-efficient options for a quick and affordable update.
05 | Door Knob Detail
Replace old or mismatched door knobs with sleek, modern hardware in a unified style for a touch of polish.
06 | Mirror Magic
Strategically placed mirrors can create the illusion of a larger space and add natural light so either invest in or move around the big mirrors in your home.
07 | Personalised House Sign
Invest in a stylish and welcoming house sign with your address or house name. It adds a personal touch which gives your home a warm inviting feel.
08 | Vegetable and Herb Garden
Dedicate a space for edible gardening, appealing to those interested in sustainability and home cooking.
09 | Enhance Outdoor Seating
Build or repurpose outdoor seating areas with inexpensive materials like pallets or concrete blocks, creating cosy spots in the backyard.
10 | Upgrade Bathroom Fixtures
Replace dated faucets, shower-heads, and towel racks with modern, budget-friendly alternatives to give bathrooms a fresh, updated look and feel.