If you have just moved into a new home or you’re thinking of moving in the future then you will probably be looking at ways in which you can increase the value of your property over time. There are many ways in which the saleability and value of your home can be improved, here online property valuation website PropertyPriceAdvice.co.uk give their top ten ways to add value:
1. Loft Conversion For many homes this is a great way to get an extra bedroom, playroom or study. A major advantage of a loft conversion is that most of the work can be done from the outside therefore restricting disruption to your household. However loft conversions are only really worth doing if you have sufficient ceiling height to stand up in and you may find that this is not possible in your property. A loft conversion will typically cost between £20,000-£40,000 but can add about 13% to your property’s value. Clearly a loft conversion is a big investment so make sure that you will benefit from it in the short term and don’t just invest in one to boost your property’s value for sale.
2. Conservatory A conservatory is a very popular way of adding ground floor living space. It’s important to choose a style of conservatory that will be in keeping with the rest of your home, you don’t want to invest in a conservatory that looks bolted on or that cheapens the exterior of your property. The great thing about a conservatory is that you often don’t need planning permission to build one, it largely depends on the size and position on the house, visit PlanningPortal to check regulations.
A conservatory can add 7% to the value of your home and prices can range from £5,000 up to £40,000.
3. Parking Parking is a massive selling point and in areas such as London can add serious value to your property. It may not look as pretty but if you have a front garden and no off street parking it would be financially beneficial to convert the garden into a parking space, especially if you live in a city/busy urban area. It is important to note though that you will need permission from your local council to lower your kerb if it isn’t already.
4. Basement Conversion Property experts are enthusiastic about basement conversions but in reality they can be very costly. You will need to hire specialists to design, insulate and build the conversion and you will probably have to move out of your home whilst it is being built but as you are building underground you can effectively almost double the square footage of your property and providing your home is worth more that £300 per sq foot you will definitely add value.
5. Kitchen If you are only going to improve one room in your home then make it the kitchen. In contemporary living a kitchen has become a focal point for most homes and a new kitchen will not only make your property more appealing when you come to sell but it could also add around 4.6% to the value of your home.
6. Insulation A well insulated home will save money on your energy bills and whilst it won’t necessarily add value to your home it will make it more appealing to prospective buyers if you ever come to sell. Loft insulation and cavity wall insulation costs very little and you will see a return on investment in less than a year. The energysavingtrust and some energy companies even offer grants to some individuals to insulate their home.
7. Bathrooms A new bathroom won’t add huge value to your property and there is absolutely no need to spend money fully replacing an existing bathroom. Small improvements can make a huge difference, investing a small amount of money in things like: shower heads, taps, towel rails and tilling will make a massive difference to the appearance of the room.
8. Garden A garden is a huge selling point for any property; if yours is in need of some TLC then it is worth tidying it up and investing in a few focal points such as outdoor furniture and beds of flowers which will draw the eye of prospective buyers. The best tip is to think of your garden as an extra living space, try and take as much pride in it as you would a living room.
9. Redecorate This is the best quick fix for homeowners who are looking to sell in the short term. It is best to keep colours neutral as it not only suits most tastes but creates the illusion of a modern, clean space.
10. Flooring Wooden flooring has become increasingly popular in recent years. Not only will it add longevity to your flooring but stains and spillages can be mopped up a lot easier than with a carpet. A wooden floor can take years off a room’s age and will make your home look clean and modern.
These are only our tips and suggestions of increasing the value of your home, there is no guarantee you will see a return on your investment so it is important to make sure you only embark on the home improvement projects your budget will allow.
Previous story