How to Maximise the Value of an Inherited Property
When inheriting a property, maximising its value is often a key priority, whether you plan to sell or keep it. Enhancing the property’s appeal can significantly impact its market price.
At Moreland Estate Agents, we’re here to guide you through this process with practical advice.
Step 1: Assess the Property’s Condition
Start by evaluating the property to determine what updates or repairs are needed. Consider:
- Structural Integrity: Check for issues like damp, cracks, or roof damage.
- Cosmetic Upgrades: Note areas that could benefit from modernizing, such as outdated fixtures or decor.
- Energy Efficiency: Improvements like double glazing or upgraded insulation can increase appeal.
Step 2: Declutter and Clean
A clean and organized property is more attractive to buyers. Focus on:
- Deep Cleaning: Pay special attention to kitchens, bathrooms, and carpets.
- Removing Personal Items: This helps potential buyers envision themselves in the space.
For a comprehensive clean, consider hiring professionals who specialize in preparing homes for sale.
Step 3: Invest in Key Upgrades
Some upgrades offer a high return on investment. These include:
- Kitchen and Bathroom Refreshes: Repainting cabinets, replacing fixtures, or regrouting tiles can modernize these spaces affordably.
- Curb Appeal Improvements: Tidy up the garden, repaint the front door, and ensure the entrance is welcoming.
Step 4: Stage the Property
Effective staging can make the property stand out. Consider:
- Furniture Placement: Arrange furniture to highlight space and functionality.
- Neutral Decor: Repaint in neutral colours to create a blank canvas for buyers.
- Finishing Touches: Add fresh flowers, throw pillows, or art to enhance appeal.
Step 5: Price it Competitively
An accurate valuation is essential. Overpricing can deter buyers, while under-pricing leaves money on the table. At Moreland, we use local market expertise to determine a fair and competitive asking price.
Step 6: Market Effectively
To maximize value, the property needs strong marketing. This includes:
- High-Quality Photography: Professional images highlight the home’s best features.
- Online Listings: Use popular property websites to reach a broad audience.
- Targeted Advertising: Tailor promotions to attract serious buyers.
Ready to unlock the full potential of your inherited property? Contact Moreland Estate Agents for expert advice and support.
