If you’re planning on creating a much more marketable home or you’re interested in renovating a house so it’s a bit more market-friendly, our guide will take you through some tips and tricks to increase the marketability of the property.
If you would like more advice that is personalised to your own home, you can contact our building surveyors in Cornwall. Here, at Martin Perry Associates, our experts will be happy to help you with your renovation plans.
The Difference Between Marketability and Market Value
A home’s value is defined by aspects that relate to the type of property such as its size, features and configuration. A homes marketability is based on its readiness to be sold, these factors include the home’s condition and aesthetic appeal.
A Home’s Value
The market value relies on the supply and demand from within the market, as well as the buyer’s preferences. When the demand is much larger then what is currently available the value of the property will increase. If there are more homes on the market then willing buyers, the property’s value will decrease.
Renovating or upgrading your property can increase its value, but this is influenced by the demand on the market at the time. At the very least, renovations and upgrades will make your property much more appealing.
Contact our team at Martin Perry Associates to see how we can help improve the value and functionality of your home.
A Home’s Marketability
Marketability is mainly defined by how ready the home is to sell. Preparing the home before you list it will attract more buyers. By ensuring that the marketability of your home is increased, you are likely to also achieve a higher price for the property.
You can increase the marketability of the property by ensuring that it is in the best possible condition. Improving how marketable your home is won’t immediately affect the value, but it will broaden and increase prospective buyers.
How to Design a Marketable Home
Designing a marketable property can be difficult as it heavily relies on current trends.
Research what’s being sought after in the current property market climate. Understanding the market trends will give you a much better idea of how to design a profitable house.
Find out if buyers are swaying towards open floor plans, or if they’re seeking out more privacy such as home offices and ensuites. Figure out if buyers currently interested in multi-zone kitchens with added automation and oversized decorative tiles.
Trends frequently change with time, so it’s best to ensure your plans are current and you are investing in uprising trends. In the meantime, you use these timeless tricks below to improve your home’s marketability.
Use Neutral Colours and Styles
Neutral colours are an effective way to make your home marketable, light colours will create the impression of a much larger room.
To emphasise this, you should also use mirrors as decorative features. Mirrors are a great way to increase the properties of spacious features.
The lack of intrusive and distracting decoration will make it much easier for the buyer to imagine the house as their own home.
Update Your Flooring
Carpet requires a lot of maintenance in comparison to wooden or tiled flooring – it can even be seen as outdated. Invest in a sophisticated flooring such as hardwood or tiled to create a much more clean and open addition to the property.
Use Natural Light
Allowing in as much natural light as possible is particularly favourable among prospective buyers, you should also consider this when scheduling viewings.
Selecting specific times of day can allow you to choose when the light is at its most attractive. Choosing a time when traffic is at its quietest is also useful.
Clear Out the Clutter
House accessories and personality are important for any home, but when selling a property clutter can make a room appear much smaller than it really is. You should aim to create a spacious, clean and organised living space.
This will emphasise how buyers could utilise the space and encourage them to see how they could create their own home within the same walls.
How to Make your Home More Marketable
We’ve collected the most effective ways to make your home more marketable, ranging from some simple but thoughtful pieces of advice to much more fundamental and functional suggestions.
Make Any Repairs
Ensure that any obvious issues are repaired, such as door defects, cracks and peeling paint. One of the most important aspects that a buyer will look for and find attractive, is a home that is evidently cared for.
You can enforce this idea by making minor repairs that reflect the minimal effort required to move in and make the house their own.
First Impressions are Important
Kerb appeal will have an impact on the buyer’s decision as most will make up their minds within the first few minutes of arriving.
Factors that will have the most impact on the buyer’s first impression include the condition of:
- Front garden
- Pathway and drive
- Decorated exterior
- Front door
- Clean and functioning gutters
- Hidden bins
The exterior should be just as attractive as the interior of your home, so it won’t hurt to rework the garden if it’s looking a little scruffy.
You don’t need to be landscape artist; it will most likely only require a few bits of pruning and planting here or there, and maybe some hedge trimming or a lick of paint.
Deep Clean the Property
Clean everything. Wipe away any limescale, grease, muck and mud. Use a carpet cleaner if you have to, make sure the windows are wiped down and the kitchen and bathrooms are spotless.
It’s also good to air out the house as we can become nose blind to our own homes, especially if there are pets around. Bad smells can be incredibly unattractive to buyers and air freshener won’t cut it.
By removing any grime and bad smells you’re not only presenting a well looked after property, but you are also allowing them to envision living in the house without the distraction of dirt or concerns about the condition of the house.
If you are embarking on making a house a home in the near future and need a charted surveyor to carry out inspections or maybe a renovation project that will need the help of a structural engineer, get in touch with our team at Martin Perry Associates to find out how our services can be of assistance.