The best way to add value to your home on a budget …
I Am Thinking Of Selling But Want To Add Value To My Home First, What Are My Best Options?
Are you looking to sell your property? Well, you definitely would like to make a good return from your investment. Why then do you consider making some dramatic changes by considering some home improvements ahead of the sale?
Home improvements will not only add value to your home but also give your property a facelift that will make it sell fast. Here are some of the top home improvement tips on how you can add value to your property before putting it up for sale:
- Add a conservatory – If you are keen about adding value to your property before selling, introducing a conservatory is a great idea. Although it is likely to take up much of the space in the garden, it is a great place to relax bot during winter and summer. Most importantly, with the conservatory you are almost guaranteed of a great return on your investment.
- Update the kitchen – The kitchen is usually seen as the main attraction for many homebuyers. In fact, it just could be the difference between selling your home or not. Thus, you’ll do well to ensure your kitchen has a modern design, is fully equipped and has a good layout as these add value straight away.
- Brighten the bathroom – Apart from the kitchen, the bathroom is another important space that informs the buying decision among homebuyers. Thus, even the smallest changes will make a difference. This may be anything from a new lick of paint, a new mirror or a new toilet seat.
- Use composite doors – The introduction of composite doors is a great way of improving the property’s energy efficiency while making your house look better. Hence, it is a worthwhile investment.
- Give your garden a makeover – The garden is the first thing buyers see when they come to view your property. It is a great way of improving your property’s curb appeal hence the need to consider introducing some shrubbery and nice flowers as these will have an impact on the decision making of homebuyers who are bound to see it in positive light.
- Insulate the home – Improving your home’s energy efficiency is another making your home more saleable. This is because it will reduce your heating bills in addition to improving the value of your home in the long term.
If you are in the process of selling your home, you will do well to incorporate some of the tips discussed above. I will only be a matter of time before buyers begin to express interest in your property. In addition, the value of your property will also soar letting you get a good return.
How much does an extension add to the value of a house?Adding an extension to your house is probably the best possible move you could make in terms of adding value. Increasing the square footage of your property is a sure way of increasing your property’s value and selling fast. Even then, you must ensure that your renovation as well as subsequent sale is well thought out.
How much value does a loft conversion add to a property?
Loft conversions are perhaps the easiest yet most profitable ways to add value to your property before you put it up for sale. Extending your property upwards to create an extra bedroom and bathroom significantly increases the floor space by up to 30 per cent.
Even then, be sure to consult a structural engineer to ensure that the conversion fits in well. You will also do well to involve an architect to ensure that your ideas come alive while you comply with the relevant building regulations and planning permissions.
You could also consider extending the conversion to the rear or either side. Ultimately, a successful conversion must maintain a balance between the ratio of the sleeping space to that of the living space. A basic conversion is capable of adding up to 15 per cent of the market value of your house.
How much value does a garage add to your house?
Generally, up to 90% of the garages in the UK are usually empty. Thus, if you have access to an off-road parking, you might as well think of converting your garage into another room.
If, for instance you are able to convert your garage into an en-suite bedroom, the value of your home could increase by around £40,000 or 20%. However, is this does not suit the needs of buyers within the area you might want to think of a study or a playroom both of which will increase the value of your home by about 10%.
How much value does a driveway add to a house?
Depending on the area where your property is situated, the ability to pack in front of the door is a huge premium. If this is the case in your area, you can be sure creating an additional parking will increase the value of your property. To ensure maximum added value, be sure to use driveway materials that complement the existing paths as well as patios. You may want to also consider planning permission.
It is estimated that a well-done driveway will add the value of your home by between 5 and 10 percent.
Depending on your reasons for selling your house, it is important to consider making improvements to certain aspects of the home to not only increase the value of the property but also sell fast.
How much value does a new kitchen add to your home?
The importance of the kitchen in the home cannot be overemphasized. This is the focal point in the home hence buyers are often willing to pay more for a house that has kitchen that is not only spacious but also attractive.
Giving the kitchen a basic makeover ahead of a sale particularly paying attention to fittings and fixtures such as drawer handles, the door as well as energy efficient appliances will definitely make a huge difference in the appeal as well as value of your home. On average, a basic makeover will increase the value of your home by up to 6 percent.
Should I build a conservatory on my property to increase it’s value?
A conservatory is another simple yet mess free option of increasing space in your home. All you need to do is ensure that it is proportional to your house. Remember, a poorly designed and fitted conservatory is likely to reduce the value of your home.
If your conservatory is less than a specified size, you may not require planning permission. Therefore, ensure you check with the relevant department. On average, conservatories add between £4,000 and £10,000 that translates to about 5 percent of the value of a home that is averagely priced.
Should I consider adding another bathroom to increase the value of my home?
The introduction of an extra bathroom is not just exciting but also rewarding when well thought out. However, you need to keep in mind that if you opt to convert an existing room into a bathroom, you might devalue the home. Therefore, get experts to advise you before making this move. Ideally, the best way to go about this is carving out an en-suite within a large bedroom as opposed to doing away with the bedroom altogether. An additional bathroom will add up to 6% to your home’s value.
A summary of how to add value to your flat or house in the UK.
Generally, home improvements do not only make it an enjoyable place to live but also make it easier to move up the ladder on the property market by increasing the value. One key thing about home improvements is planning. This is because while some require some monetary investments others require licenses to implement. Most importantly, you need to keep the ceiling price in mind so that you do not invest in home improvements that will not pay off.
- Consider your location – Research on home improvements suggests that some regions are preferred over other when it comes to what sells as well as what adds value to property. Therefore, you need to shift the attention from those improvements that do not necessarily add real value to the property. You can achieve this by not giving in to your personal preferences.
Rather, think of those improvements that are worthwhile in specific locations. For instance, an extension would be ideal in areas that are highly populated like Newcastle and London as opposed to less heavily populated areas like Devon and Cardiff where the buyers are keener on the bathrooms and kitchens.
- Ensure you have the know-how – Before you begin implementing home improvement projects, speak to your local estate agents to hear their view of the market. In particular, ask them what buyers are looking for within your area as well as what has been selling lately and why. Once you have identified the key areas, make a resolve to only tackle those jobs that you have the skills to complete because buyers will not be impressed by botched improvements.
Well, your desire to improve the value of your home does not mean that you delve into home improvements blindly as this could eventually work against your quest to sell fast. Therefore, ensure you are acting from an informed point of view.
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