Adding value to your home is often fairly straightforward. When it comes to investments, making money often involves spending money, and your home is no different. Whether you are looking for a quick flip or a complete renovation, it’s important to make considered choices.
Below, we discuss the best ways to add real value to your home...
Adding value to your home is often fairly straightforward. When it comes to investments, making money often involves spending money, and your home is no different. Whether you are looking for a quick flip or a complete renovation, it’s important to make considered choices.
Below, we discuss the best ways to add real value to your home...
A few ground rules
Be careful not to overspend. Make sure your changes are impactful and necessary. If a refurbishment will add to the quality of your living space, then do it, but not all passion projects add value.
When it comes to suppliers, be resourceful, shop around and conduct plenty of research. Don’t just sign on the dotted line in a larger branded store, consider independent tradespeople, with excellent reviews, to carry out the work as they may be more cost effective.
Kitchen or bathroom?
If the kitchen is in good shape but the bathroom is crying out to be replaced, then you may get more for your money by choosing a bathroom renovation.
It could be that you need to do both the kitchen and the bathroom, which are arguably the two most impactful yet costly rooms in the house.
A new bathroom can add up to 5% to the value of your house while a new kitchen can add up to 15%, but nothing is guaranteed so do the maths carefully and see what you can reasonably spend.
Loft conversions
A loft conversion can add between 10 – 20% to the value of your home, but be warned this is not an easy task. Firstly, check if you can convert your loft, beam heights are critical here, so you will need to get a reputable builder to give an initial appraisal. There is often lots of red tape and planning permissions involved in creating a new bedroom, office or bathroom in your loft. The good news is that this is sometimes much cheaper than adding an extension to your property.
Garden and outdoor living spaces
A nice garden can feel like adding another room to your house. However be careful as adding a few shrubs, mature trees, and some decking and you can end up spending thousands. Perhaps not as essential to add the same levels of value as other areas but still worth considering as it can complement the entire impression of your home. Inserting bifold doors to remove the traditional boundary between indoor and outdoor living can enhance this further.
Energy efficiency
A new heating system is not always a huge investment and could save money on energy bills, whilst hopefully not putting potential buyers off with the prospect of replacing the boiler.
Solar panels are becoming increasingly popular. It’s an attractive proposition, particularly in today’s climate; to be self-sufficient when it comes to producing electricity.
Cost effective ideas you could choose to do
Sand and paint internal and external doors and skirting.
Check out your floorboards; in older houses often these can be sanded and varnished and will look beautiful on completion.
If you don’t want to replace tiles and cabinets, consider painting them.
Improve or replace lighting and light fittings.
Sort any damp problems.
Replace carpets or old laminate.
Regrout the bathroom.
Check the guttering.
