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Excited and proud to have reached the milestone of buying a new house. You cannot wait to start remodeling and decorating your new space into a personality-filled home. However, once it is time, and buyers are trying to be lined up, it may surprise you to learn that some of those thoughtful yet unwise upgrades may have actually devalued your property.
A quick chat with an estate agent will tell you that property value today depends on a whole lot more than just renovations. Unexpected factors like your street name, house number, or name, and even your Energy Performance Certificate (EPC) rating, can play a big role in how much your home is worth.
It can all be overwhelming, especially since some of these things are outside your control. But we’ve got you covered. In this article, we’ll walk you through the changes you can make to boost your property value and highlight key things to consider when buying your next property.
1. The Importance of Energy Performance Certificate (EPC)
Energy efficiency has become a major factor in determining property value, and your EPC plays a key role. Since 2018, landlords have been legally prohibited from letting properties with an EPC rating of F or G. To rent out a property, it must meet a minimum rating of E.
An EPC rating is also required for sellers, as buyers prefer homes that are easy to maintain. The higher your EPC rating, the greater the value of your property. Investing in energy-saving improvements like energy-efficient lighting and eco-friendly roofing will definitely help your cause.
Getting an EPC is simple – just look up a company that provides EPC services in your area. For example, if you’re based in Chelmsford, you’ll need to partner with an EPC in Chelmsford or the surrounding areas. A quick Google search can also get you the details you need to contact your local EPCs.
2. Declutter Today to Increase Your Home Value Tomorrow
A clutter-free home can have a huge impact on the value of your property. Studies have shown that cluttered homes can knock an average of £9,290 off the value of the property. That is not a minor chunk, and getting rid of clutter is also one of the most cost-effective ways to improve the property’s appeal.
This is something that doesn’t require a huge financial investment. Nonetheless, you will have to spend a lot of time and energy trying to get rid of items that are no longer useful to you. If you happen to find some older items in great condition, you can even sell them and put some extra cash in your pocket. You should consider getting rid of excess furniture and extra items from the attics and countertops when decluttering.
In fact, many people who are looking to buy modern or minimalist studio apartments in London prioritise simplicity and comfort. If your property looks clean and streamlined, buyers are more likely to imagine themselves living there, and that should give you an edge.
3. Your Parking Spaces Are a Goldmine
In cities and towns where parking is limited, a driveway or a designated parking space can add serious value to your property. According to a 2023 article in the Express, the average price difference between properties with and without parking is approximately £12,000, and the gap in London rises to £73,000.
This makes off-street parking a game-changer for homeowners looking to sell. Since electric vehicles are becoming more common, having a parking spot or driveway with access to a charging point will become a value-boosting feature in the coming years.
If you have a driveway, you should make sure that it’s in good shape when you’re trying to sell. One simple way to do this is to reach out to local tarmac companies who could get the job done in a jiffy. An upgraded driveway will not only make your property more functional, but it will also set a very good first impression.
4. Be Aware of The Pub Effect
You might assume that having a pub in the area would lower your property value. You will be right if it is a popular watering hole with a long line of customers. But for many buyers, a quiet gastropub with great food is actually a major selling point. In fact, one in three Brits says they wouldn’t even consider a home that isn’t within easy reach of a good local pub. Some buyers even go as far as visiting the pub while house hunting, with 18% admitting they’ve made an offer on a home from inside a pub.
If your home is within walking distance (approximately 0.7 miles) of a pub, this is a significant advantage when selling your property. In numerical terms, a well-maintained, reputable pub could enhance your property’s value by up to 10%. So when you’ve got a buyer on the line, it might just pay to take them for a celebratory drink down the road!
5. Go Green, But Not the Way You Think
When we say “go green”, we mean it quite literally. A study found that tree-lined residential streets far outperformed those without greenery, adding as much as £4,700 to a property’s worth. As the world becomes more concrete-heavy, people place greater importance on access to nature and outdoor spaces.
If you are looking to improve your property’s appeal, planting trees and investing in landscaping can be an effective way. It will certainly increase your property value, especially if your home is near a park, wooded areas, or open green spaces.
Final Thoughts
Your property value is not determined by a single factor. However, these unexpected reasons can truly add more value and make it easier to sell.
Even simple choices like listing high-quality photos or updating your exteriors can change the buyer’s perception of your home. You could also consider adding some green to your windows to help.
Frequently Asked Questions
As energy efficiency is a major consideration for purchasers, an Energy Performance Certificate (EPC) helps to define the worth of your house significantly. More attractive are properties with better EPC ratings; starting in 2018, properties rated F or G cannot be rented out. Improving your EPC score, therefore, raises the value of your property.
Decluttering your house will have a major effect on its worth. Studies indicate that messy houses can reduce property value by a typical of £9,290. A clean, well-organized home is more appealing to buyers, so they can see themselves living there more easily, which can eventually result in a faster sale at a better price.
Having a driveway or assigned parking spot can significantly increase the worth of your property in places with scarce parking. On average, homes with parking spaces are valued £12,000 more than those without; in London, this difference can reach up to £73,000.
Having a pub close by—assuming it is a respected and well-kept establishment—can really increase the value of your property. Many purchasers value quick access to a warm watering place, so a good local pub can raise the worth of your property by as much as 10%.
The presence of trees in landscaping can boost the value of your house greatly. Studies show that tree-lined streets can raise the worth of a property by as much as £4,700. Investing in landscaping and greenery can increase the appeal of your house, particularly if it is near parks or open green areas.
