Certain home improvements can vastly increase the value of your home, but before you start spending, it’s important to ensure there will be a return on investment.
Successful home improvements can add thousands to a house price, as well as making your home a more enjoyable place to live. Not every improvement needs to be costly. They can range from the simple task of fixing superficial defects to adding a conservatory, and it’s important to look at the potential return on investment to make sure you’re not over capitalising.
Small improvements that are unlikely to break the bank include taking a look at the minor defects in your house. Fixing things like peeling paint, squeaking doors, mouldy sealants and dripping taps may not directly add value to your property, but these are the little things that can prevent it from selling at the optimum price.
Freshly painted rooms in neutral tones look clean and up-to-date, and that spells value. It also gives the potential buyer a fresh canvas to add their stamp to a home. Painting can visually increase your home’s square footage, making it feel larger than it is. Replacing heavy drapes with vertical blinds or shutters to let light in, clearing the clutter and adding a large mirror in a small narrow space can add to this effect.
The two rooms that benefit most from small renovations tend to be the kitchen and bathroom. Replacing outdated bathroom suites and improving fixtures and fittings in the kitchen can instantly add value.
More extensive ways to increase value tend to involve extending the square footage, whether it’s be adding a larger kitchen with a single-storey extension or squeezing in an extra bathroom. The latter is estimated to typically boost value by around 5%. En suites are in high demand, so if there’s an opportunity to carve out a space without impacting too much on other rooms, it will likely be worth the investment.
Extending upwards is often one of the easiest ways to gain an extra bedroom and bathroom, and a loft conversion can increase floor space in your house by up to 30%, adding up to 15% to your property’s market value. The most successful loft conversions are those that fit in with the design of the existing property, both inside and out. Experts all agree that creating an extra bedroom, bedroom can add more than 10% to the value of a property.
Flexible living areas are also in high demand, so if your home has a number of smaller rooms divided by walls that aren’t load-bearing, opening these areas up could transform the flow of your living space at a relatively low cost.
Finally, conservatories are back in style and are a relatively easy way to add living space, although achieving a balance between outdoor and indoor space is vital. If you do choose this route, don’t substitute the cheaper UPVC option for the premium look and feel of a hardwood conservatory and make sure the conservatory is in proportion to the house. Conservatories need to blend with the existing structure, be made with quality materials, and provide a lot of light to be worth the cost.
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