8 Home Improvement Ideas that will Increase the Value of Your Home
For homeowners that are looking to increase the value of their home before putting it on the market, there is a wide range of improvements that can be made. Some of these projects take longer and are more costly, while others are relatively simple adjustments that can be easily completed. Every home improvement calls for careful planning as well as thorough cost-benefit analysis to determine the extent to which savings can be made in the long run.
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A loft conversion
According to a report from Nationwide, a loft conversion can increase the value of a property by as much as 21 percent. These vary in type, cost, and the amount of structural work needed. Projects that involve adding windows or raising the height of the roof come at an extra cost, and a Mansard conversion will usually call for planning permission. Most loft conversions do not require this, but it is a good idea to check with your local planning authority before beginning a project.
An additional bathroom
If your home has just one bathroom, experts estimate that homeowners will recoup between 80 and 130 percent of their investment by adding a new bathroom. This could be made in unused spaces, such as under the stairs or storage areas, and it will depend on the space available and the number of features that you wish to add. A bathroom with a bath or shower will usually call for at least three square meters in space. Sinks, toilets, tubs, and fixtures that have been floor models come at reduced prices at large home improvement stores like Homebase or B&Q.
Well-kept gardens bring an extra appeal to the potential buyer and can help to sell your home. So it is advisable for sellers to put some time into tidying their gardens and adding some finishing touches. This could include the addition of a deck or patio, garden furniture that can be used for entertaining guests, and a summerhouse or shed with an agreeable paint job. Of course, plants, trees, and flowers that are well looked after improving the ambiance and make any garden more attractive to visitors.
New conservatories can increase the value of a home by up to 10 percent, but they must be well designed and integrated in the best possible way. These can be in modern or traditional style, and they are largely dependent on glass, which is usually required to be double-glazed by building regulations. However, there are other options in glazing, such as self-cleaning glass and solar control glass. Homeowners will need to choose the best material to use, from timber, aluminum, and uPVC, which affects the style and performance of the conservatory.
A new kitchen
A high proportion of buyers say that the kitchen is very important in the purchase of a property, and homeowners that renovate their kitchens are likely to recoup their investments. According to experts, new kitchens can increase the value of a home from between 5 and 15 percent. Kitchen renovations need to be planned and designed carefully, and deluxe kitchens can come across as incongruous in more traditional homes. It is best to follow the guidance of a professional kitchen designer that can advise on appliances, countertops, lighting, and other features.
A new extension
Along with loft conversions and new kitchens, rear extensions are one of the three things that Nationwide identifies as increasing the average value of a home from £74,000 to £200,000. Extensions can take many shapes and forms, but adding more floor space will always increase the value by a great deal. It is just important to ensure that extensions are well suited to the rest of the property. As with conservatories, planning permission will usually be required, but once it is secured, planning permission is an extra bonus for new buyers.
The government encourages homeowners to maximize the energy efficiency of their homes with guidance and advice. Energy-saving measures can mean substantial savings for new owners on a long-term scale, which will be attractive for new buyers. Insulation is a way of keeping homes warm and reducing heating bills by hundreds of pounds annually, and energy-efficient lighting can also lead to significant reductions. There are currently many more options of brightness and color temperature than there were in the past, but low energy light fittings will need to be installed. Other appealing energy-efficient options include solar panels, electric heating systems, and energy-efficient windows.
When selling a property, it is essential that all structural issues have been dealt with and will not become an issue for the new owners. There are many areas of potential damage or decay, so it is a good idea to contract a surveyor, builder or structural engineer to make an assessment of any possible structural defects. These could include rising damp, cracked walls, rotten joints, an unstable chimney stack, a sagging or leaking roof, bowing walls, or a collapsed floor.
There are countless ways that a home can be improved prior to a sale, so each of these options should be reviewed for their economic viability. The design also plays an important role in any operation, as well as the ways in which the improvement will complement other aspects of the house. The final decision will also come down to a homeowner’s intuition and common sense.