Most of us are keen to add value to our properties so that we can make a good return on investment when selling time comes around. There are so many things that experts recommend as being worthwhile when it comes to adding value to our homes, lets face it we are all looking for a better budget to move on to our next home with. However, you should do your research thoroughly as it can be tricky to discern just what exactly will make all the difference when you come to sell up.
If you have the funds, it can be tempting to throw money at your home in order to boost its appeal to potential buyers and, therefore, its value. Nevertheless, you should exercise caution and remember that every street has a ceiling when it comes to house prices. Furthermore, the value of your home is dictated by the state of the market in general, so you should be pragmatic when considering what projects to concentrate on.
If you are looking for a quick sale, a great option is the property-buying firm LDN Properties, who have enabled hundreds of home-owners throughout the UK to achieve a dependable, low-hassle sale with no fees.
In this article, we will look at which home improvements have been proven to add the most value to properties.
The home improvements that add the most value
Remedying structural issues - First up, it's important to consider that structural issues such as damp or subsidence will undoubtedly detract from your home's valuation. Therefore, it makes sense to solve any structural problems before embarking on other projects to boost your home's value.Converting to flats - While this is not an option for everyone, converting a property into flats can be hugely lucrative, especially in areas like London where there is a huge demand for rental apartments. However, it is wise to do your research before making any decisions in order to ensure that there is a demand for rental opportunities in your area.
Converting unused space - Converting a garage, attic, or even cellar into a new bedroom or living area can be hugely worthwhile when trying to add value to your property, with estimates that adding new living space could add a whopping 30% to the value of your home.
Adding an extension - A further way of adding value is to create more living space via an extension. Again, this may not be possible for everyone, but for those with extra space, building an extension is a solid way to add value, with experts estimating that an extension could boost the value of your home by up to 15%. If you don't have the budget to add an extension, remember that even a successful planning permission application could add a significant sum to the value of your home.
Adding a conservatory - Similarly, creating a garden room or conservatory is a great way of adding living space and, therefore, value to your property. While the majority of conservatories are exempt from planning permission, it's definitely prudent to check before adding a conservatory to your property. It is likely that a conservatory could add up to 10% to the value of your home.
Boosting your garden's appeal - Another solid way of adding value to your home is to add decking to make the most of your garden space. New decking or even a summer house can be a great way to enhance your garden's appeal while adding to the overall value of your home. Bear in mind that decking is likely to require regular maintenance in the form of jet-washing to keep it looking its best. Ensure you make provision for drainage so that water doesn't pool on your decking in wet weather.
Adding a new bathroom - An attractive, modern bathroom is viewed by potential buyers as a great asset, and can add 3-5% to the overall value of your property. Save cash by purchasing new units yourself and having a local plumber fit them, rather than relying on a professional company to fit the new bathroom in its entirety.
Creating open-plan living spaces - Another method of adding value to consider is removing walls to create an open-plan appeal within your home. Open-plan living spaces are highly sought-after and can add around 3-5% to your home's value. By knocking down a few walls you can add a sense of flow to your home which will maximise the existing space. Just make sure you do your research and call in the professionals when required. No one needs the headache of finding out that they have unwittingly knocked down a load-bearing wall in their quest to add value to their home!
Thank you for reading our advice on which improvements add the most value to your property. We hope that you find these tips useful when it comes to adding value to your home.
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