Maximise Your Propertys Value By Implementing These Simple Tips

As the property market in the UK continues to stagnate, the outlook looks bleak for both sellers and buyers. However, there was some positive news in the most recent report from the Royal Institute of Chartered Surveyors (RICS). The figures show that estate agents have seen an increase in the number of house sales in April. According to the report, surveyors have also seen an increase in house sales, with more buyers and lenders requesting valuations on properties. But the new issue that many people who are hoping to sell their home face, is that the value of their property will have significantly dropped since the crash, perhaps even to a point of negative equity. For those people who simply cannot afford to sell and owe more than the property is worth, another option may be to simply improve the property and stay put until the house prices recover. With news on the back of that, that lenders are loosening up their lending criteria again, now would appear the perfect time to remortgage your home in order to release funds for home improvements or to buy additional properties. You may be thinking that home improvements cost a lot of money, however there are various projects that you can do that won't cost the earth. Many of these will also add a decent amount of value to your property. Updating rooms in the home such as the kitchen can add thousands onto the value of your home, as can creating parking space in places where parking is limited. Increasing the living space in your home also adds value which is why loft conversions are increasingly popular, particularly if you can fit an additional bathroom as well as an extra bedroom. Extensions also allow you to put in additional bedrooms which can add thousands to the price of your property. If you already havea garage, this can be converted to another bedroom too at relatively low cost. Do make sure that when you are planning your projects that you don't do anything that would make the property less saleable, such as adding new bedrooms, but leaving the kitchen very small or out of date. Ensure that you address the needs for existing rooms before creating additional bedrooms. It's always a good idea to use labourers who have been recommended, either by some sort of watchdog or by your friends and family. This will avoid the potential pitfall of the jobs being done to a poor standard or left unfinished, which can be extremely expensive to fix and put right. Of course, this would defeat the object of borrowing additional funds. You should also ensure that you take all costs, fees and charges into account when looking for a remortgage. Don't just compare the interest rates. Make sure you get quotes and also look at the overall cost which is detailed on every mortgage quote. Howard O'Gollegos writes for Just Commercial Mortgages.com the UK's No.1 site for the latest commercial mortgage rates and commercial property finance news.

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