We are obsessed with property, we pore over stories about house prices and love to speculate about how much our neighbours spent on their extension.

From renting out your parking space to investing in buy-to-let, these tips from TV star and property expert Phil Spencer will give you all the inspiration you need to make your property pay.

1. Repaint the front

Never underestimate the importance of street appeal — it's the first impression you get when you approach a property from the street. Freshly painted window frames will show that your home is well-maintained and dispel any buyers' fears that more serious problems lurk within. If your home has a rendered finish rather than brick, repainting the front will give it an instant facelift. Hopefully your envious neighbours will follow suit.

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2. Do up your door

Sanding and repainting your front door in a classic colour such as red or navy will give potential buyers a fitting welcome. If you want to attract younger buyers, take inspiration from interiors magazines for on-trend shades. You can buy a new doorknob, numbering and letterbox in brass or stainless steel for not much. Brass adds class on an older property.

3. Tidy your garden

Start by planting plenty of colourful flowers to welcome visitors in the front garden. In the back, mow the lawn, re-seed bare patches and trim the hedges.

4. Hang mirrors

A cramped entrance is instantly offputting, but widening the hallway is expensive. Instead, create the illusion of more space by hanging mirrors. Clear away bikes, coats, prams and shoes.

5. Kitchen refresh

The kitchen is one of the most important rooms in the house, but a total refit is likely to cost thousands. Yet a simple makeover can do wonders at a fraction of the price. Repaint or replace the cupboard doors and buy stylish handles and drawer knobs for a fresh new look. Give taps a thorough clean with limescale remover or buy new ones.

6. Bathroom makeover

Take a similar approach to the bathroom and focus on the fittings. It's likely to cost more than your kitchen, because of the cost of labour for more difficult jobs such as plumbing and regrouting. Hire a professional unless you are particularly good at DIY, as any leaks are damaging and expensive to fix. Buy a new set of taps, a power shower and a new glass screen.

7. Carpet deep clean

So long as your carpets are not worn through or permanently stained, you can rent a carpet cleaning machine to bring them back to life.

8. Cash in on your clutter

Since you'll be rifling through your home room by room, take the opportunity for a massive declutter — you'll be amazed by how much bigger your home will seem. You can then sell your unwanted books, kids' toys, clothes and furniture for a tidy profit.

- Daily Mail