If you have some experience in the property market, you’re probably aware that several factors can either increase or decrease the property’s capital value and rental value. Aspects like property size, location, upgrades, usable space, age, and neighbourhood can tremendously impact a property’s value for money positively or negatively.
But what about furniture? Does it affect your property worthiness? That’s precisely what we’re going to shed light on in this article. We’ll also briefly walk you through some of the best ways to add value to your home.
How Does Furniture Affect the Value of the Property?
Your furnishing can either increase or decrease your property’s pricing. Sometimes, it can increase the value of your home, but not like how you’d expect it to. In that case, you’re better off selling the furniture separately or even keeping it. You can also offer your potential buyers to buy the furniture if they like it at additional costs. First impressions will last in a buyers mind, ensuring the entrance hallway is appealing to the buyer could make all the difference.
So, what determines whether a set of furniture is good or bad for your property’s value? Many properties come into play, including the following.
The Furniture’s Condition
If you take proper care of your furniture, you can make it as good as new and add value to your property. That includes regularly cleaning it with soapy water, polishing, dusting, keeping it out of direct sunlight, re-oiling, and re-waxing. You can also maintain the fabrics by keeping them away from pets and cleaning them with suitable products.
Having pieces of shiny furnishings inside your home can increase its value by a good margin and improve its kerb appeal. In contrast, if your furnishing looks old and damaged, it will either not affect the value of the property or decrease it.
How It Goes With the Rest of the Property’s Decor
If your furniture’s style and colours match the rest of the property’s décor and colours, then it’s a good idea to keep it to add value and increase your property’s resale rate. Other than that, it could subconsciously discourage your prospective tenants from buying your property.
What Affects the Value of Your Property?
A good deal of factors can influence the cost of your property other than furniture. However, most tenants prioritise a few of them. In short, they’re the aspects that matter more to them.
Nevertheless, we wouldn’t leave it to glance assumptions. Let’s clarify the variables that can affect your property’s value more.
What Brings Down the Value of Properties?
When it comes to properties, anything can bring down the value of a home. We want you to avoid these pitfalls, so here’s a list of all the factors that can hurt your property’s value:
- Damaged roofs
- Poor maintenance
- Incompliance with building regulations
- Badly executed workmanship
- Uninspiring landscaping
- External factors (like noise pollution from unpleasant facilities like power plants)
- Unfriendly neighbours
- Flimsy kitchen cabinets
What Can Add Value to Your Home?
Here are some of the features that can add value to your home:
Fixing Structural Problems
The best way to devalue your home is to ignore structural issues. Structure issues can be dealt with easily by contacting an expert because, in most cases, you won’t be able to spot them, even if it’s a serious one.
Defects are a discouragement for your potential buyers – that’s not news. But why keep them? Many won’t even cost you an investment to eliminate. You can prioritise the most notable defects, then take care of the other details and things later. Some of the defects you can fix are:
- Peeling paint
- Dripping taps
- Squeaking or sticking doors and windows
- Mouldy sealants in kitchen and bathroom
- Door latches that don’t work
- Squeaky floors and stairs
- Loose tiles
- Sewer smells
- Lifting flooring
- Cracks to ceilings and plasterwork
- Broken or damaged windows
Along with the above-mentioned ideas, here are more ways that can boost your home’s worth and houses in general in front of a surveyor:
- Good maintenance
- Replumbing and rewiring
- Updated underfloor heating and cooling systems
- Landscape upgrades
- Energy efficiency
- Home accessories
- Clean floor
- Numbering of living spaces
- Size of each living space
- Available air vents
- Laminate flooring
- Conducted repairs
- Storage areas
- Unaffected wallpaper
- Solar panels
- Garden makeovers
- Outdoor lighting
- Planning application
- Kitchen units resurfacing
- Neat kitchen drawers
- Fresh paint job
- Loft conversion
- Irrigation system
- Kitchen, bedroom, and bathroom renovations
- Dining rooms
- Attractive bedrooms
- Clean walls
- Solid tiling and floorboards
- Soundproof windows
- Insulation types
What to Look for When Valuing a House?
Unlike tenants and even estate agents, they don’t consider all the features that can affect the value of a property. A mortgage valuer will estimate the asking price that a home should be sold at, while a real estate agent estimates what a buyer will likely pay. They’re usually interested in the property’s area, topography, shape, and views.
In other words, they want to know whether they can sell the property quickly and get back their investment if they had to claim it from a company or person who used the property as collateral.
So, can furniture influence the capital or rental value of a home? The short answer is yes. What differs is the extent of such influence, depending on the quality of the furniture.
If your furniture is truly astonishing, it can definitely add value to your home; that’s a guarantee. On the other hand, if it’s not that impressive, it’s improbable that you’ll gain any real value from it. So, make sure to employ our tips and information and set the priorities in motion depending on the rules of surveyors in the UK!
Also, remember that not all house buyers prefer to buy or rent fully furnished buildings. Many people like to buy an empty house because they either already have their own furniture or simply want to get the chance to plan and choose their furniture according to their liking. The process of creating homes is fun for a lot of people!