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Home Upgrades to Add Value

Keval Gudka • May 17, 2023

It’s hard, isn’t it? Estimating future capital gains on property upgrades. An upgrade could be anything from adding an electric car charging point or carrying out a loft conversion. But by how much will my property appreciate by because of the upgrades? What are buyers looking for now?


Whilst many homes in Milton Keynes will have a ceiling value for their street, there are some things that can be done that will add value. In the first instance however, I tend to always look at low-cost simple jobs which include cleaning, tidying, de-cluttering to highlight the space available. Repainting can be inexpensive but can provide a great return in terms of selling price and speed of sale.


Let’s take a quick look at a fewer bigger ticket items that can be done to add value to your home:


Full Redecoration:


Average Cost £2,975

Added Value £8,913

200% increase


Giving your entire home a fresh coat of paint is generally the most common advice given to potential home sellers. It gives your home a new lease of life especially if you’ve had water leaks in the past leaving unsightly yellow or brown marks on your walls and ceilings. It’s also one job that may provide the best return on your money!


Electrical car charging point


Average cost £1,000

Added Value £4,888

388% increase


We do often get people looking for electrical vehicle charging points when viewing homes, however not everyone has an electric vehicle and so I would question the value-added figure of £4,888. To a buyer that has an electric car, this certainly would be a huge bonus point, but in my view not a deal breaker.


Garden Office:


Average cost £9,500

Added Value £21,563

127% increase


You could be doubling your money with a garden office! We are now seeing more and more buyers looking for additional space for an office and a garden office tends to be well sought after. Especially as more people are now working from home. Whilst having a garden office will certainly make your property more appealing and help the sale ability of it, the value of the office doubling is something I would take with a pinch of salt.


Loft Conversion:


Average Cost £37,500

Added Value £43,126

15% increase


If you need the space either for another bedroom or office and plan to stay in the property long term, then this maybe well worth doing. However could it also be cheaper and better to move?


Solar Panels:


Average Cost £5,875

Added Value £11,500

95% increase


In this high inflationary environment, we all want to save money on our energy bills and the trend of solar panels is certainly here to stay! However, does it add value? Personally, I don’t feel many buyers take this into consideration when buying a home, although it would be a good bonus point. If you’re going to add solar panels, then do it for you!


Garage Conversation:


Average Cost £13,750

Added Value £28,751

109% increase


Many people want and need the extra space, so a converting a garage can prove to invaluable and could save you from moving. However, there are also plenty of people who like having a garage for storage or to keep a nice car away from the elements. Like many of the above points, it maybe best to convert the garage for you rather than for any potential buyers.


Utility Room:


Average Costs £8,100

Added Value £14,375

77.4% increase


Would you rather spend £8,100 on a utility room or redoing the kitchen for the same money? I know what I would do! If you’re looking to sell your home then our advice would be spending the money upgrading the kitchen instead, this could be as simple as changing handles, worktops to a full refurbishment.


Kitchen Upgrade:


Average Costs £10,550

Added Value £15,813

50% increase


A new kitchen would on average cost £10,550, however this would very much be dependant on the number of units and how much of a high-end finish you desired. If your kitchen is over 15 years old and really showing, it’s age then it maybe worth considering renewing the kitchen. Especially if your homes target market is first time buyers. On the other hand, potential buyers maybe looking for a project to put their own stamp on. A view would need to be taken on a case-by-case basis.


There you have it. A list of big-ticket items that research shows could increase the value of your home. I personally feel many of the suggestions should be done if you’re looking to stay in the property for the long term and to do it for you rather than any potentially buyers. If you’re looking to sell your property on the other hand, then there are many smaller cost effective upgrades such as repainting which may yield you a much better return.

My name is Keval Gudka, you can call me on 0208 614 0740 or email me at keval@agestateagents.co.uk.


Thanks for reading.



Keval 

The Pros and Cons of Living in Milton Keynes: A Modern Urban Oasis

By Keval Gudka • 25 May, 2023
Milton Keynes, located in Buckinghamshire, England, is a unique and vibrant town known for its innovative urban planning and contemporary lifestyle. Designed with a vision of creating a balanced environment for residents, Milton Keynes offers a host of advantages that make it an attractive place to live. However, like any location, it has its drawbacks as well. In this blog post, we will explore the pros and cons of living in Milton Keynes, helping you make an informed decision if you're considering this town as your future home. Pros of Living in Milton Keynes: 1. Modern Infrastructure and Planning: One of the biggest advantages of living in Milton Keynes is its meticulously planned infrastructure. The town boasts excellent road networks, efficient public transportation systems, and a network of pedestrian and cycling paths. This makes commuting within the town and traveling to nearby cities incredibly convenient, reducing the stress associated with transportation. 2. Green Spaces and Parks: Milton Keynes is renowned for its abundance of green spaces, parks, and lakes. The town is adorned with more than 20 million trees, offering a refreshing environment and ample opportunities for outdoor activities. Whether you enjoy cycling, jogging, or simply unwinding amidst nature, you'll find plenty of picturesque spots to explore. 3. Cultural and Entertainment Hub: Despite being a relatively young town, Milton Keynes offers a vibrant cultural scene. It boasts a range of art galleries, theatres, and live music venues, hosting a diverse array of performances throughout the year. The famous Milton Keynes Theatre is the largest outside of London, attracting renowned productions and world-class performers. Additionally, the town houses the National Bowl, a renowned open-air venue that has hosted some of the biggest music concerts and festivals. 4. Shopping and Dining: Milton Keynes is a shopper's paradise, offering a variety of shopping centres and retail parks, such as Centre:MK and intu Milton Keynes. These destinations house a wide range of high-street brands, independent boutiques, and eateries, catering to all tastes and preferences. Whether you're looking for fashionable clothing, household items, or delicious cuisine, you'll find an abundance of options in Milton Keynes. Cons of Living in Milton Keynes: 1. Lack of Historical Charm: As a new town, Milton Keynes lacks the historical charm found in some other British towns. If you're someone who appreciates centuries-old architecture and a rich heritage, you may find the town's modern aesthetics somewhat impersonal. 2. Limited Job Market: While Milton Keynes is home to several national and international corporations, such as Red Bull Racing and Santander, the job market can be relatively competitive, especially in certain sectors. Depending on your profession or industry, you may find it challenging to secure the job opportunities you desire within the town itself. 3. Traffic Congestion: Although Milton Keynes is known for its excellent infrastructure, it can still experience traffic congestion during peak hours. The town's popularity and rapid growth have resulted in increased traffic volumes, especially on major roads and roundabouts. It's important to consider commuting times and plan accordingly to avoid unnecessary delays. 4. Cost of Living: Like many desirable locations, the cost of living in Milton Keynes can be relatively high compared to surrounding areas. Housing prices can be steep, making it challenging for first-time buyers or individuals on a limited budget to find affordable housing options. Conclusion : In conclusion, Milton Keynes presents a distinctive blend of advantages and disadvantages for those considering it as their place of residence. The town's well-planned infrastructure, abundance of green spaces, and vibrant cultural scene undoubtedly make it an attractive destination. Commuters will appreciate the efficient transportation networks, while nature enthusiasts can indulge in the numerous parks and lakes. Additionally, the town's shopping and dining options cater to a wide range of tastes and preferences. However, it's important to acknowledge the limitations of living in Milton Keynes. The lack of historical charm may be a downside for individuals seeking a more traditional setting. Moreover, the competitive job market and traffic congestion during peak hours can pose challenges for some residents. Additionally, the relatively high cost of living, particularly in terms of housing prices, may be a deterrent for those on a tight budget.  Ultimately, whether Milton Keynes is the right place for you to call home depends on your priorities and preferences. Consider the town's modern appeal, cultural offerings, and convenient amenities alongside the potential drawbacks. With careful consideration, you can make an informed decision that aligns with your lifestyle and aspirations.

I Want to Sell My Property: What Do I Do First?

By Keval Gudka • 25 May, 2023
Deciding to sell a property is a significant step that can bring about various emotions and challenges. Whether you're looking to upgrade, downsize, or simply need a change, selling your property requires careful planning and preparation. To help you navigate this complex process, we've outlined the crucial first steps you should take to ensure a successful sale. 1. Evaluate Your Property: Before diving into the selling process, it's essential to evaluate your property objectively. Take a step back and assess its current condition, considering both its strengths and weaknesses. Look for any repairs or renovations that may be necessary to enhance its appeal to potential buyers. This evaluation will give you a clear idea of the property's market value and help you set a realistic asking price. 2. Research the Property Market: Understanding the current state of the property market in your area is vital. Research recent sales, average property prices, and trends specific to your location. This information will provide you with valuable insights into the demand, competition, and pricing dynamics of your local market. You can consult estate agents, online databases, and local property listings to gather relevant data. 3. Find a Reputable Estate Agent: Partnering with a professional estate agent can make a significant difference in the success of your property sale. Seek recommendations, read reviews, and interview multiple agents to find one who specializes in your area and has a proven track record of successful sales. A reliable agent will guide you through the entire selling process, offer valuable advice, help set the right price, market your property effectively, and negotiate on your behalf. 4. Set a Realistic Asking Price: Determining the right price for your property is crucial for attracting potential buyers. Your estate agent will assess the market value of your property based on factors such as its location, size, condition, and recent sales in the area. While it's tempting to aim for a higher price, setting a realistic and competitive asking price will attract more interest and help you sell your property faster. 5. Prepare Your Property for Sale: First impressions matter, especially when it comes to selling property. Take the time to make your home presentable and appealing to potential buyers. Declutter, deep clean, and consider staging your property to showcase its full potential. Address any necessary repairs, touch-ups, or improvements to enhance its overall appearance. Pay particular attention to the curb appeal as it creates the first impression for potential buyers. 6. Gather and Organize Documentation: To streamline the selling process, gather and organize all the necessary documentation related to your property. This includes property deeds, title deeds, mortgage information, warranties, permits, and any other relevant paperwork. Having these documents readily available will help facilitate the transaction and provide transparency to potential buyers. 7. Develop a Marketing Strategy: Effective marketing is essential for attracting potential buyers and maximizing the visibility of your property. Collaborate with your estate agent to create a comprehensive marketing strategy that utilizes online platforms, social media, professional photography, virtual tours, and traditional advertising methods. By reaching a wide audience, you increase the chances of finding the right buyer for your property. Conclusion: Selling a property can be a complex and overwhelming process, but you don't have to navigate it alone. By partnering with a reputable estate agent, you can unlock the full potential of your property sale. An experienced agent will provide valuable insights, expert guidance, and a tailored marketing strategy to attract the right buyers and secure a successful sale. With their knowledge of the local market and extensive network, a professional agent will ensure your property receives the exposure it deserves. From setting a competitive asking price to preparing your property for showings, they will handle the intricacies of the selling process, allowing you to focus on other important aspects of your life. So, if you're ready to embark on this exciting journey of selling your property, reach out to us, your trusted estate agent. Our team of dedicated professionals is committed to delivering exceptional service, personalized attention, and outstanding results. Let us help you make a smooth transition to the next chapter of your life. Contact us today, and together we'll turn your property into a desirable and sought-after listing.

The Evolving Milton Keynes Property Market: A Haven of Opportunity

By Keval Gudka • 24 May, 2023
Introduction: Welcome to Milton Keynes, a vibrant town in Buckinghamshire, England, renowned for its modern architecture, innovative design, and sustainable living. With its strategic location, excellent infrastructure, and abundant employment opportunities, Milton Keynes has become an attractive destination for property investors and homeowners alike. In this blog, we will explore the evolving Milton Keynes property market, highlighting its key features, growth factors, and the opportunities it presents for prospective buyers and investors. 1. Rising Property Prices: Over the past decade, Milton Keynes has witnessed a steady increase in property prices, making it one of the fastest-growing property markets in the UK. The demand for housing, combined with limited supply, has resulted in a surge in property values. However, compared to nearby cities like London, the average property prices in Milton Keynes remain relatively affordable, making it an enticing option for first-time buyers and investors looking for value for their money. 2. Infrastructure and Connectivity: Milton Keynes is renowned for its excellent infrastructure and connectivity, providing residents with easy access to major cities and transportation hubs. The town boasts exceptional road and rail links, with direct train services to London Euston taking just over 30 minutes. Moreover, its close proximity to major airports, such as Luton and Birmingham, further enhances its accessibility and attractiveness to both domestic and international investors. 3. Employment Opportunities: One of the key factors driving the growth of the Milton Keynes property market is the abundance of employment opportunities. The town is home to numerous large corporations, including leading automotive, technology, and logistics companies. The presence of these industries has led to a strong job market and steady population growth, attracting young professionals and families seeking career advancement and a high standard of living. 4. Sustainable Living and Urban Design: Milton Keynes stands out for its unique urban planning and sustainable living initiatives. The town was designed with careful consideration for green spaces, pedestrian-friendly walkways, and an integrated transportation system. With numerous parks, lakes, and nature reserves, Milton Keynes offers residents a balance between urban convenience and natural beauty. This emphasis on sustainable living makes it an appealing choice for those seeking a greener lifestyle and a healthy environment for their families. 5. Development and Regeneration Projects: To accommodate the growing demand for housing, Milton Keynes has seen significant development and regeneration projects in recent years. The introduction of new residential areas, mixed-use developments, and urban renewal schemes has expanded the housing options available to buyers and investors. These initiatives not only provide a range of property types but also contribute to the overall improvement of the town's infrastructure and amenities. 6. Rental Market Potential: For investors looking to enter the buy-to-let market, Milton Keynes offers promising prospects. The high demand for rental properties, driven by a growing population and a thriving job market, presents opportunities for rental income and capital appreciation. Additionally, the presence of the Open University and Cranfield University attracts many students, further fuelling the demand for rental properties in the area. Conclusion: The Milton Keynes property market continues to thrive, fuelled by its exceptional infrastructure, strong employment opportunities, and commitment to sustainable living. Whether you're a first-time buyer, a property investor, or someone seeking a modern and vibrant place to call home, Milton Keynes offers a range of options to suit your needs. With its rising property prices and potential for growth, now is an opportune time to explore the property market in this dynamic and evolving city.
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