A home is a big investment for many of us, and like most investments, you would want to maximise on it. Many homeowners look for ways to add value to their home before putting it on the market to capitalise on a higher return, appealing to current trends and what potential buyers like. Here are ten of the most common ways you can add value to your home.
Loft Conversion
A loft conversion is a cost-effective way of adding liveable space and value to the home. The extra bedroom will add at least 15% to the home value and potentially more so if it is en-suite. While most lofts can be converted, it is best to get a builder or architect on board for advice, especially as you may need planning permission depending on the type of conversion you’re going for.
Extension
An extension is the most obvious way of adding square footage to a home, but it can take a lot of planning. While extensions should be a big enough useful space, you want to make sure that it does not take up too much so that it significantly takes away from the outdoor area as that can put off potential buyers. Get a reputable builder on board to help in the design and making sure your addition complies with building regulations.
New Kitchen
The kitchen area is very influential in a sale. This area is the heart of the home, and any renovation to it, big or small, will improve the value. New cabinets, appliances and countertops are always ideal, especially if they are in a neutral tone. Be aware of your spending though. However, it is only worth it if you put a proportional amount of investment into it. You won’t be able to recover the cost of a £25,000 kitchen on a house that isn’t selling beyond £200,000.
New Bathroom
Renovating a bathroom is another way of increasing value, and thankfully it doesn’t have to be an expensive job. Keeping the layout as it is and modernising the features such as toilet, taps, tub and/or shower is a good way of slightly adding worth while keeping your costs down. In addition to having a bathroom renovation, adding a new bathroom, or even an en-suite, can add 5% to your home value. This is only recommended if you don’t have to give up another useable space, like a double bedroom, as this will actually decrease the value.
Eco-friendly
Opting for an eco-friendly home will not only save on household bills but will also reduce your carbon footprint, and this will add value. Implementing eco-friendly details can save homeowners hundreds. A one-off cost of ÂŁ1,500 for a solar water heater will see homes get up for 70% of their hot water for free. Simple loft insulation and cavity wall insulation can also save up to ÂŁ250 a year in heating bills.
Kerb Appeal
Give your home some kerb appeal for that great first impression whilst adding to your home’s worth. It can be as simple as re-painting the front door (or getting a new one altogether if needed), plant some flowers in garden beds and consider adding an area for entertainment in the back garden. Make sure the lawn is mown, weeds are pulled and pathways are clear. These details may seem minor but they’re what potential buyers will notice first!
Conservatory
A conservatory can be a great cost-effective addition if planned correctly. If it is facing the south, make sure there is plenty of shade and ventilation. If your conservatory will be north-facing, add heating. Like an extension, you want to make sure this doesn’t take up too much garden space. The out-of-proportion look will put off buyers. A good conservatory that complements the home can add around 15% to its value.
Open Plan
Spaces can be instantly transformed with the open-plan look. This doesn’t increase the size of your home, but it certainly makes it look that way with an increase in useable space. Open-plans are popular right now for this reason. If you can’t knock down a wall and have a true open-plan, having a “window” in the wall instead might be an option as this still gives the illusion of an open space. For this job, you will need to call in the professionals, but it can certainly pay off.
Garage Conversion
If your garage is a bit underused at the moment and you tend to park in a space outside, why not turn it into a liveable space? This will essentially add another useable room and up your property value by around 15%. You may not need planning permissions, but it will need to be up to building standards so consider having your local council’s building inspector or an independent inspector to check regularly on your conversion to ensure things like electricity and drainage meet regulations.
Cellar
Converting the cellar into a liveable space has the potential to add a whopping 30% to your home value. This is actually one of the easiest conversions to make, and it requires no planning permission as you are simply changing the use of the room (unless the property is listed).
If you would like to see how much your home is worth before or after you add value to it, then consider using Investate’s free property valuation. We’ll give you an idea of what your home should be listed at, so you can make the most out of your sale and put your home on the market with confidence.
Learn more about our pricing and discover how our DIY approach can help you reach potential buyers.
