We have talked in these pages before about what people are looking for when buying their Valencia Property and we have also talked about what to do as an owner to make your property look as attractive as possible to a buyer. What we haven’t done however is to tell you how to add value to your Valencia Property, whether that be a perceived or real value. There are many ways to do this and today we will be looking at some of the best, what these steps are likely to cost you and when and where they are possible.
Equally when you are buying many of these measures you may want to take in order to minimise your outgoings or simply to make your house into more of a home. Everyone has different tastes and if you make your garage into a dungeon for your Goth leaning kids then that might not be too positive as regards the value of the property but most of the following suggestions will have a benefit to the upside. It’s up to you to decide if the investment required pays for itself long term in terms of savings on costs or increased market value and ease of selling when that point comes along because making a property easier to sell is just as important as increasing its value.
With the recent rises in energy costs and the drop in prices of solar panels this first suggestion is now a bit of a no brainer. It is even more so when you consider that many companies offer low interest rate 100% finance on the panels and installation and local councils also offer grants to install and also discounts on council taxes for those installing solar panels. However, there is one big problem for a lot of buyers. If you buy an apartment then you don’t have your own roof in order to install the panels. For villas and town houses though you often have plenty of roof space for solar panels to reduce or even almost eliminate electricity costs.
The big question is whether to install batteries for storage or to use the system called “autoconsumo” where you use what you produce during the day and any excess is sent to the grid and you get paid for it. It’s best to ask a technician (and believe me you won’t struggle to find companies providing this service now) to see if your usage requires batteries or not.
Car Charging Port
Even if you don’t have an electric car it may be worth your while to install a charging port at your property to charge electric cars. Obviously it’s worth it if you have one and can do it at your house but again if you have an apartment it will be impossible for you unless you have a garage space in the same building and the community allows the installation of a charge point in the garage along with a meter to measure your usage.
Why might you get one if you don’t have an electric car though? Well, you can choose to “Plug Share” your connection if it can be accessed from the road and other electric car owners can connect up and use your electricity. Of course they pay for this at a higher rate than you are paying for it so it becomes a source of income, not much but enough to make it worthwhile. Equally you are also able to charge your own car when you do get an electric one, and with the price of petrol and diesel, not to mention the environmental savings, it makes a lot of sense.
Spanish property is not world renowned for its insualtion levels (No sh*t Sherlock). When it’s hot outside it’s hot inside and when it’s cold outside it’s freezing inside. Properties that are properly insulated are like hens’ teeth so if your property has this advantage then you will see it first in the reduction of heating (and cooling) bills and also when you come to sell. It might not necessarily be something that increases the perceived value of the house but it can be something that means a potential buyer might be more well disposed to buying your property as they know they will not have to do the work required to insulate the property in the future so you should be pointing it out to any potential buyer.
Loft Conversion and Mezzanines
Guess what? Spanish properties don’t tend to have lofts to convert but if they do then a loft conversion is a great way of increasing the usable space in a house. Equally in apartments with really high ceilings, usually those under the roof, there is often space to put in a mezzanine floor. Mezzanine floors will not count for the metres when a buyer applies for a mortgage but they can easily make a difference for a buyer to decide on your property as “the Chosen One” as they give them the extra space they are looking for.
Loft conversions require specialists and there are not many builders who have done them so make sure your chosen professional has experience otherwise you might be living in an oven in the summer and a freezer in the winter. That insulation point from above is important.
Tired, boring, drab and neglected properties will have less chance of being sold than properties that look inviting, attractive, modern and swish (yes it’s an adjectivefest today). Having a makeover of your property may well be the difference between someone making an offer and someone not even considering it as an option. However, getting a professional to do the makeover might be a better option than thinking that you know better. There are many home staging companies that can do a much better job than I would so I’ll assume the same applies to 90% of you reading this.
Costs of a makeover vary of course. Do you need to buy throws, do a bit of painting, some decorating or maybe just a bit of everything and then do the main thing which is our next point.
There’s nothing worse for a potential buyer of your house than the property seeming small because it’s full of junk. Taking away stuff will increase the perceived value of your property.
Over the years we all collect stuff that we could easily, throw out, recycle or simply get rid of. And we never do! When you are coming to sell your property you must do it.
Space adds value and clutter reduces space.
How much does this step cost? It’s one of the cheapest to do but where do you put the stuff you move out? You may need to rent space for storage or you could just chuck it out or give it away. There’s always a charity or somewhere than can make use of your stuff… unless it’s really crap!
Sometimes though you need a bit more than a declutter and a makeover. Sometimes you need professional help to make those spaces that you create from the decluttering into something that potential buyers see as useful. An office space, a gaming room, an extra bedroom something that invites the byer to think about what they could use the space for. Interior designers don’t come cheap but they can be worth their weight in gold.
Extensions are an obvious one but only legal extensions with proper planning permission, an architect’s plan and the proper permits in place, otherwise you are just trying to sell a problem and pass it onto someone else. An extension can only be done on a house in theory but remember that at times using light materials it’s possible to create extra space on larger terraces in apartments or in the patio or interior courtyard of a townhouse. Any extra space that can be created will increase the value of a property as long as it’s legal.
How much will it cost you? Well look at between 1000-1500 euros per square metre for standard extensions with plans and building costs. Light material builds on terraces tend to be a lot cheaper.
Well Maintained Gardens
If you have a house with a large garden make sure it’s well maintained because there is nothing that reduces the value of a property in the eyes of a buyer than the first impression and if the potential buyer walks into a jungle of weeds then that first impression sticks whatever the potential of the property, especially if that jungle hides an army of mosquitoes.
Equally, a garden is so much more visually pleasing and therefore increases the perceived value of a house rather than acres and acres of concrete, cement or grey tiling. When you think about it there is also more sense in this because a garden helps to cool down the area surrounding the house with more absorption of sunlight and shade from trees when compared with the reflection and heat of concrete, tarmac or paving stones surrounding a house.
If you are selling a house with a garden and you cannot look after it, that might be the reason you are actually selling it after all, then get a gardener in to give your garden the once over and the weekly update. Keep on top of it and make it look better than presentable.
Garages are good, converted garages are better. Unless you are a car nut of course. A car port in a garden can easily replace a garage just to keep the sun off your car. The garage can act as a gym, an office, a studio or even all three. It can be converted into guest or family accomodation or it can be used just to store all of the rubbish you have taken out of the house when you were taking the step to remove the clutter above. Any of the uses given for a garage will usually increase the perceived value of a home. (Unless the buyer is a car nut!)
An Energy Audit
With the current energy crisis and bills rising exponentially for many, having an energy audit is a good idea to make sure that you are paying the minimum possible on your energy bills. By doing this when you get asked the inevitable question, how much do you pay on your bills? you will be able to answer without scaring the living daylights out of the potential buyer. You can do this with electric of course but also gas. Usually you have no choice with the water provider.
Central Heating and Cooling
Has the house got any form of heating and more importantly, in most of Spain and most of the year, does it have air conditioning? If it does then you are increasing that value. If it doesn’t then the potential buyer is mentally estimating how much less they are going to offer you for your property because they will need to install it.
And it’s not expensive.
Putting in a simple spilt for air conditioning in the living room and electric radiators in the living room and main bedroom can be enough to convince a buyer that this is the place for them. However a fully integrated hot and cold air conditioning system, especially when combined with solar panels can be the cherry on the cake for any potential buyer.
Selling Your Property?
If you are looking to sell your property in Valencia check in with us and see if we can help you to sell it, just send us a mail. We sell more properties to international clients than any agency in Valencia and have done now for two decades. Our clients come from all over the World with a special emphasis on the North American and Northern European markets with special mention to our clients from Oceania and the Middle East.
We can advise you on the best way to present your property, we can advertise it worldwide and also with local agents that we work with here in Valencia and we can give you the best chance of selling as quickly as possible to the widest possible client base. Our websites are seen by thousands of people every week and we advise individuals, investors and funds on their purchases of property in and around Valencia. Click on the image to send us a message.
Golden Visa Property of the Week
Very hard to find fault with this property. In La Cañada, just 5 minutes walk from the British College, and half that to a supermarket and your choice of restaurants, this villa is ideally located.
The living area is split level and completely open, with a fireplace in the centre. Cool in the summer and cosy in the winter. The kitchen has ceiling to floor double doors leading out onto the garden and terrace, which also connects to the living room area. A large grassy garden, with fruit trees and a large pool with kids area, which is on the southern side of the house and gets the sun most of the day.
There are 2 bedrooms on the ground floor, and 3 more on the first floor, 2 of these en-suite. Both the ground floor and first floor have been renovating in the last few years, and no further work is required.
The semi-basement area has a completely separate entrance, so it would be ideal for guest rooms, or a home office. In fact there was a business run from this floor previously, with a shop, office and storage area. Floors and walls are perfect here, there is even air-conditioning. Again, no work needed, but perhaps some redecoration.
In one of the best areas of La Cañada, close to international schools with a large living space and also enough room left over for guests or a work space, this place really has everything you could look for. Call us now!
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