Whether you’re struggling to sell, or simply looking to attract buyers willing to meet your asking price, many people choose to renovate their home before putting a property on the market. And, while loft extensions and garage conversions are likely to be pricey, there are some simple tricks which could see you soon add value to your home. While these could be crucial, it’s important to remember that these investments will come at a cost – which may be the last thing you want when you’re about to up sticks. So, what “cost-effective” efforts does Phil Spencer recommend doing?
During an exclusive interview with Express.co.uk, Phil explained that there are two relatively low-cost actions you may want to consider doing, when it comes to selling up.
“The most cost-effective changes in order to help a sale would be repainting and recarpeting,” the 49-year-old said.
“Nothing freshens up a house as much as a repaint of fresh paint, and fresh carpets.
“But, you’re also going to need to focus on the look,” Phil advised, before emphasising: “Because photographs are so important.
“You’ve got to get people in to look at your house on a viewing, so the outside has to be inviting.
“I would always say you need to appeal to the widest number of people, and doing something that is too personal to you reduces that.”
So, could this be why so many redeveloped properties have relatively pale-toned decor?
Phil insisted that that is indeed the reason.
He said: “It’s because nobody walks in and goes ‘I hate magnolia, I’m never going to buy this house’.
“They’re going to come in and say ‘Well magnolia is a bit dull but I can change that’.”
Warning against bright colour schemes, he added: “If you’ve got a pink wall or a bright purple carpet, people will come in and go, that’s a bit intense.
“They’ll have a negative thought rather than a positive one. It’s avoiding things that are too personal.”
The Love It or List It presenter also advised that hopeful sellers think about who their likely buyer would be.
“Think of your target market; who you’re trying to sell the house to,” the property guru explained. “The chances are it was probably someone in a similar stage of life to you when you bought the house or the flat.
And, while it won’t be possible to be hugely accurate, targeting the house to that person – and the stage of life that they’re at – could see you increase the likelihood of reaching a sale.
Phil also discussed how having a smart meter in your home could see you become more aware of your bills.
“If you have a smart meter installed by your energy provider at no additional cost to you, at least you’re in control,” he told Express.co.uk.
“You have an up-to-the-minute virtually accurate reading of what you are spending in pounds and pence. So, it puts you in the drivers seat.”
To help you keep track of how much energy you are saving thanks to energy efficient measures, get a smart meter installed at no extra cost, by contacting your energy supplier or visit www.smartenergygb.org for more information.