We have all had a lot of time over the last three months to reflect on our surroundings, and lockdown has been a fascinating and decisive time for us all when considering whether we should sell, rent or refurbish.
First Impressions Count
Whether you are thinking about selling or letting your property, it is worth remembering that presentation is key. We have seen a huge number of properties come onto the market since the Covid-19 lockdown restrictions have been lifted, which means plenty of competition. Potential purchasers or tenants want to see a well looked after property – first impressions really do count!
We know that in an ideal world a newly refurbished property is the most popular choice, but not everyone has the budget for a full refurbishment. We have been advising clients for years on the best way to present their property, whether that be full redecorations, re-carpeting, general repairs or a new kitchen or bathroom re-fit. Each property is different, and the aim is to maximise potential.
Your Property’s Maximum Market Potential
The refurbishment of a property will certainly increase the value. A property we renovated recently in Chelsea saw an increase in value of £500k with only a £240k spend.
Several projects we have been working on since lockdown have been completed and snapped up by tenants in record time. However, we understand that not everyone wants to spend money on refurbishment works. If a refurbishment is not an option, another great option is to dress your property. Dressing your property is a fantastic way to not only breathe a new lease of life into it, but also help people envisage how an empty property could look fully furnished – it’s important to spark imagination!
6 Top Tips for Refurbishing
- Do not follow trends. If the property is a rental investment, then keep it neutral as tenants will add their own personality. If it is your home, then make it your own style – there is no right or wrong!
- Never remove period features. They are wonderful details to keep and expensive to replace.
- Feature walls are not a good look! If you want to make a bold statement, do it throughout a room.
- Carpets are not for bathrooms. Invest in some underfloor heating and beautiful tiling which can cost next to nothing.
- Get the lighting right. Do not put lights in a grid formation, instead think about lighting in separate areas. A line of lights in front of windows with a chandelier behind looks great. Use warm light bulbs instead of white lightbulbs, as white lights are too harsh. Use lamp lighting where possible.
- For a tenanted property, the focus should be on storage, lighting, kitchens and bathrooms.