The auction market is very competitive, as everyone is looking for the best possible price on their property, but there are a few strategic ways in which you can significantly impact the selling price of your home. We’ve outlined both quick-fixes and lengthier home improvements to help you capitalise at the auction house.

Quick Ways to Add Value to Your Home.

• Redecorate
• Fix defects
• Kitchen touch-ups
• Have a general tidy up

Redecorate.

The first and easiest way to add monetary value to your home is to redecorate. This can be as simple as adding a new coat of paint to all the walls. Modern styles tend to favour neutral colours, such as beige, soft grey or white, and this can make spaces look larger and more inviting.

Fix Defects.

Smaller issues can give the impression that a house hasn’t been looked after and is a bit run down. Bigger issues, such as damp or mould, can severely impact you later on after a survey, so these should also be rectified. Things like peeling paint, dripping taps and limescale build-up should be tackled first.

Kitchen Touch-Ups.

The kitchen is a focal point for many buyers. If a full renovation is not feasible, consider updating cupboard doors and handles. Ensure there is ample lighting and remove any clutter from surfaces.

Have a General Tidy Up.

Not all auction homes are derelict. A clean, clutter-free home feels more spacious and appealing. Remove personal items and excess furniture to allow buyers to envision themselves in the space. Consider hiring a professional cleaner for a thorough job.

Home Improvements to Consider.

If you have a little more time and money, it’s worth considering some of the more intensive efforts that can raise the value of your property. These include the addition of a home/garden office and improving your home’s EPC rating.

• Home/garden office
• Garden shed
• EV charger
• Upgrade the EPC rating
• Garden spaces

Home/Garden Office.

Since the pandemic and the introduction of hybrid working schedules, home offices have become more of a priority for prospective buyers. Converting a spare room into an office space can be ideal to capitalise on this. Alternatively, outside space in the garden can be just as useful, without compromising on bedroom space.

A home office has the power to add anything from 5—15% to the value of your home.

Garden Shed.

Storage space is always valuable for any home, and a garden shed would never go amiss. Installing a brand new shed is a great way to add external storage without encroaching on the internal space of the home.

Depending on the size, layout and design, a shed can boost value by 5—10%.

EV Charger.

With the rise of electric vehicles, more home buyers are looking for ways to be greener. Since charging an EV at home is the cheapest option available, you could capitalise on this by having a home EV charger installed. This can cost anything from £500 to over £2,000.

On the plus side, an EV charger has the potential to add up to 13% to your home’s value.

Upgrade the EPC Rating.

All homes in England, Wales and Northern Ireland have an Energy Performance Certificate. This tells a home buyer how much it would cost to heat and run the property. It also comes with suggestions for ways you might be able to improve the rating, such as fitting loft insulation and low energy lighting.

Improving an EPC to a C rating can add about 3% to a home’s value, so it’s a worthwhile pursuit.

Garden Spaces.

As well as the internal spaces needing to be presentable, the garden is just as important. A professional-looking outdoor space can add a wow-factor that accentuates the home. Similarly, drought-proof plants and bee-friendly flowers can help spruce up the garden while appealing to environmentally-conscious buyers.

Home buyers will pay more for a property with an outdoor space, and a well-presented garden can add up to 15—20% to its value.

The Reality of Selling at Auction.

When it comes down to it, you won’t get the true value of your home when selling through auction. It’s generally accepted that you’ll lose around 10—20% of what your home is worth when selling this way, which is why increasing the value as much as you can beforehand is so important.

Bear in mind that the bidding process could always give you more than you’re expecting. The reserve price is set by the market, but the bidding process is competitive, and bidders will ultimately pay what they want for the property. The better condition your home is, the more fiercely competitive people might bid for it.

If you’re looking to make up for the majority of the lost value, the meatier renovations can be more beneficial. They will take time and money to implement, but it will make your property more attractive to buyers. If you don’t have the time, even just going through the quick list can be all that’s needed.

Ready to maximise your home’s value and make the most of your auction sale? Contact Keyco today for a free, no-obligation valuation. Our experts are here to guide you through every step of the process, ensuring you get the best possible price for your home when you sell with an auction house through us.