Whether you’ve just moved into a home, are looking to sell and maximise profit or are settled and wish to improve your living space for yourself, there are lots of ways to make home improvements that will increase the value of your home.
If you’re making the investment in order to turn a profit in the short term, then it’s wise to check the value of your home with a local estate agent and ask them what value your proposed improvement will bring. Some streets have a ceiling price and houses will not sell for more than this, no matter how many improvements you make. It’s worth checking out the figures before committing to the build.
Of course one or two improvements should absolutely add some value to your existing home; particularly if it’s not been improved greatly before now. We are currently looking to extend the rear of our property to create a large kitchen family area and potentially have a loft conversion to give a double bedroom with ensuite. Not only should both these options increase the value of our property for a future sale, but they’ll greatly improve our living space and the layout of our busy family household.
Here are some of the best ways to increase the value of your home:
A well-kept garden can increase the value of a home by £2000, so just imagine how much a professionally designed landscaped garden could add. Many home buyers look for a great sized garden and if there’s nothing they need to spend on doing it up themselves, then that could be the persuading point of them putting in an offer on your property compared to one with overgrown grass, brambles and weeds. If you’re not very green fingered then consider hiring a specialised company such as landscaping Mississauga to transform your outdoor space for you.
Adding an extension can add around 11 percent to the value of your home and start at around £20000 for a single storey. We are currently in the process of getting quotes for a single storey extension to add a kitchen and family area to the rear of our home which will extend our current living diner in to a larger open plan space. Not only should this project add value, but it means we can covert our old small kitchen into a downstairs toilet and utility room increasing our properties appeal even more.
Spending £20,000 on a loft conversion can add £40,000 to the value of your home. It’s a great way to use otherwise wasted space and adds an extra room or even bedroom to your property. We are hoping to convert our attic into a bedroom with ensuite to increase the size of our property and give us an extra private bathroom away from the kids!
Converting a garage to create more living space within the home can potentially add 15% to the value. It’s a particularly good idea if you already have parking space outside, especially a driveway. A garage conversion can create a dining room, extra bedroom, office space or playroom. We currently use two thirds of our garage conversion as a playroom and the other third is my office. I’d love to turn it into a self-contained bedsit one day that can provide us with rental income.
Modernising a kitchen is a sure fire way to bring a higher valuation price. See what you can salvage to make the job less costly if budget is an issue. For example, we were able to keep the kitchen units in our kitchen remodel and replaced the floor, sink, tiles and worktops to totally transform our kitchen into something new. Friends and family were amazed the cupboards were the same as our changes made it look like a new kitchen overall. A brand new kitchen could add 6 percent in value.
Add a Conservatory
A conservatory could add an extra 7% to the value of your home. It’s a great way to link the house to the garden and to enjoy a beautiful garden whatever the weather. It should match the style of the home to not look tacky and feel like a proper extension of the living space, rather than a separate building.
Updating a dated bathroom is one of the best ways to add value to your home. The less work a prospective buyer sees they need to do themselves, the more appealing the property. Your bathroom may not even need totally replacing. If the units themselves are in good nick, then consider simply changing the flooring and lighting to give a fresh updated feel. If the tiles and vanity unit have a lot to be desired for, then perhaps it’s time to call in some expert bathroom fitters.
An extra bathroom can increase value by up to 5 percent. One of our biggest regrets was not purchasing a property with more than one bathroom and we long for an ensuite and downstairs WC. We’re now looking into the possibility of adding both to our property and should we ever move again, it will be on our list of must-haves.
If you’re looking to add more value to your property then there are plenty of ways you can invest your money wisely to guarantee a return. Just talk to a local estate agent who has the knowledge to tell you which improvements will give you the best return for your money in your area.
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