How to increase the value of your Spanish property

When selling or renting your property in Spain, boosting its market value through renovations can be an excellent investment. Extensive and costly improvements aren't always necessary; small, cost-effective upgrades can make a substantial difference. These enhancements not only increase the sale price but also make the property more appealing to potential tenants or buyers.

By understanding what factors influence property appreciation and strategically implementing effective upgrades, you can achieve a higher profit. Let’s explore some impactful measures and considerations for enhancing your property's value.

1. Kitchen and bathrooms

The kitchen and bathrooms are critical areas that can make or break a sale. They are one of the areas that potential buyers scrutinise. Making it more functional and modern can be a game-changer. Even simple updates like fresh paint and new hardware can make a substantial difference. The cost of a new kitchen can start at approximately €5,000 increasing substantially depending on specifications. If you’re contemplating selling, modernising your existing kitchen often provides a good return, potentially increasing your property's value by about 5%. A renovated bathroom with high-quality fixtures and tiles can increase your property value by 10-20%. A complete bathroom update can range from €10,000 to €20,000. Here are some areas to consider:

• Replacing cabinets: New cabinets can refresh the kitchen’s or bathroom’s look.
• Upgrading countertops: A new worktop can give the kitchen a facelift. For smaller kitchens, white worktops can brighten the area and create a sense of spaciousness. This simple change can modernise your kitchen without a significant expenditure.
• Upgrade taps: Modernising the kitchen taps with more contemporary and practical designs can make a big difference.
• Installing modern appliances: An induction hob or new appliances can update the kitchen.
• Repainting walls: Warm colours can make the kitchen feel more inviting.
• Updating flooring: Changing the floor can modernise the kitchen.
• Swap bathtub for shower tray: A simple and practical upgrade involves replacing the bathtub with a shower tray. This not only saves space but also reduces water consumption, adding both functionality and an eco-friendly appeal.
• Installing a shower screen: instead of a curtain for a modern look.

2. Flooring

Replace old flooring with stylish and durable materials like hardwoods, laminates, or high-quality tiles. If your budget allows, replacing worn parquet flooring can give your home a fresh look. Alternatively, consider refinishing existing flooring.

3. Enhance lighting

Good lighting can exponentially increase the appeal of any living space. Here are ways to let in more natural light:

• Windows: Clean the windows thoroughly and replace heavy drapes with light, sheer curtains.
• Mirrors: Strategically placed mirrors can reflect light and make rooms appear larger and brighter.
• Light fixtures: Updating light fixtures can also help. Swap old light fixtures and switch plates for modern, energy-efficient LED options. This adds a polished look, enhances safety, and saves on electricity bills. Adding automated lighting is also very economical and very attractive to home buyers.

4. Improve the front door

First impressions are crucial, and the front door is one of the first things that prospective buyers or tenants will see. It's important that your front door is both aesthetically pleasing and secure.

Upgrading to a new, stylish, and secure front door can make a significant difference. This can be done in two ways:

• DIY option: Purchase the door yourself and hire a professional to install it.
• Full-Service option: Let a professional handle both the purchase and installation. Although this might be more expensive, it ensures that you get the right door for your needs and save yourself from potential mistakes.

A front door that looks good and is robust can significantly boost your home’s appeal and marketability.

5. Optimise space

Increasing the perceived space in your home can add significant value without requiring extensive renovations. Space is usually at a premium in apartments, so maximising the available area can be very beneficial:

• Open plan living: Remove non-load-bearing walls to create an open living area, making the space feel more expansive.
• Built-in storage: Install built-in wardrobes or shelving to make efficient use of all available space. Custom-made built-ins tailored to your home’s style can significantly raise property value.
• Rearrange furniture: Simply rearranging furniture can open up rooms, making them feel larger and more inviting. This change can enhance the flow and functionality of living spaces.

6. Freshen up with paint

A fresh coat of paint can rejuvenate any space. Opt for neutral colours like whites, greys, or beiges that appeal to a broader audience. It allows potential buyers to visualise their own style in the setting. For smaller spaces, white can make the rooms look bigger and brighter.

7. Enhance outdoor spaces

If your apartment/flat has a balcony, transform it into a cosy outdoor space. Comfortable seating, potted plants, and weather-resistant flooring can convert this often-neglected area into a charming feature.

If you have a garden, it is important for it to be well maintained.A well-presented garden can be a major selling point for houses. Try focusing on these aspects:

• Lawn care: Keep the lawn well-trimmed and healthy. Reseed, water, and fertilise as needed.
• Planting: Add a mix of seasonal flowers, shrubs, and trees to create an aesthetic, layered look. Native plants are preferable as they require less maintenance and water.
• Outdoor living: Create inviting outdoor spaces with garden furniture, a barbecue area, or even a small pool. Decking or stylish patio stones can enhance the overall look.

It is also important not to neglect the exterior of your home. Be conscious of these important aspects:

• Facades and roof: Repaint or power-wash exterior walls. Ensure the roof is in good condition.
• Doors and windows: Clean, updated, and well-maintained doors and windows are essential. Consider adding double-glazed windows for energy efficiency.
• Garage door: Upgrade to a modern garage door for improved security, insulation, and aesthetics.

8. Improve energy efficiency

Updating heating systems, replacing windows, and adding insulation can increase your property value by 5-25%. A new heating system costs between €10,000 and €30,000, while new windows start at around €300 each. Promote these energy-saving features to potential buyers, highlighting the long-term cost benefits, especially in winter. If you would like to find tips on how to boost energy efficiency in your home in Spain, please read our guide.

9. Highlight unique features

• Historical elements: If your property has unique historical features like exposed beams, original tiles, or antique fireplaces, emphasise them. Restoration can be a worthwhile investment.
• Views and natural surroundings: Take advantage of any stunning views by opening up windows or clearing unnecessary trees or bushes. Views will add value immediately to your home.

Renovating your property before selling can significantly increase its value, but it's crucial to weigh the cost of renovations against the potential increase in sale price. Simple improvements like painting offer immediate visual appeal, while larger projects like kitchen or bathroom renovations can add significant value, typically increasing the property value by 15-20%. Energy-efficient upgrades are particularly attractive to buyers, potentially boosting value by up to 25% as they promise lower running costs.

While typical renovation costs can range from €5,000 to €50,000, the return on investment can vary depending on the property's location and the type of upgrades. For example, energy-efficient updates might yield a higher return in urban areas compared to rural properties. If you need to take the plunge and deep dive into a costly renovation, read our guides on renovating a home in Spain which will provide valuable insights.

To maximise your return, consider utilising government schemes that offer financial assistance for energy-efficient renovations and explore DIY options for certain tasks to reduce expenses. Ultimately, thoughtful renovations that enhance aesthetics, functionality, and modern amenities will make your property more appealing to buyers, ensuring a higher return on your investment. If you want to know what potential buyers are being advised to look out for, read our article on 7 tips when viewing a property in Spain.