There are many reasons why you’d like to increase the value of your home. Maybe you want to work your way up the property ladder by improving the home you already have, or you simply need to accommodate for a growing family.
There are a few improvements you can make that will make your life more comfortable, and ensure better return should you decide to sell your home in the future.
Check out these five proven ways that will help you maximise the value of your home:
1. Convert your basement and loft
Loft conversion remains the most popular and easy ways of increase the space and number of bedrooms in your home.These also happen to be the changes that add the most value.
According to a report by Nationwide, adding an extra bedroom and a bathroom can add 20% onto the value to your house if you’re located in London. For the rest of the UK that’s between 10%-15%.
Basements can be more difficult to convert as you need to involve specialists to do the planning and the work, as lot of structural work is likely to be involved.
2. Build an extension
Adding extra space is pretty much the main factor that can increase the price of your house. So, once you’ve exhausted all the options of expanding on the inside, you can move onto building outdoor extension.
In most cases, that’s a conservatory which is connected to your house with bi-folding or sliding doors and a flush floor. Alternatively, you can forget about the doors and keep it open plan. A conservatory can increase your home’s value by 12%.
There are a couple of things to consider before undertaking an extension project. It’s a good practice to keep its style similar to the rest of the house. If you your property is a listed building you might not be able to make any changes to it.
3. Bridge the gap between your home and garden
Open space is another factor that influences the price of your home. Knocking down walls to be replaced with bi-folding or sliding doors make rooms feel larger, increase natural light and look a lot more modern. You can expect between 3%-5% increase in value with these changes.
Installation is usually within a couple of weeks and it’s relatively disruption-free. Once you’ve opened up your home to the outdoors, you wouldn’t want to go back. You can even install decking which will make it even better.
Energy efficiency if a big factor which buyers consider when looking for a new house. And the good thing about such doors is that all of the benefits they bring don’t raise the energy cost as they’re are very energy efficient.
4. Renovate the interior and exterior
Start with your walls, give them a lick of paint, this will refresh the atmosphere of the rooms. Old wooden doors can be sanded down and painted again to achieve this same fresh new look.
People spent most of their time in the living room and kitchen, so make sure neither look dated (unless that’s the style you’re going for of course). Repaint the kitchen cupboards, replace cracked or broken tiles and look for any other small imperfections that can ruin the overlook look and feel of the room. A well-maintained interior can add up to 5% on to the value of your home.
And it may seem like common sense, but don’t go wild with the changes – the renovation should follow the style of your property. If it’s meant to have wooden windows, don’t install metal. You don’t want to lose the authenticity of the property.
5. Repair outstanding structural problems
It goes without saying that if your house requires a lot of additional work after it’s purchased, this will knock thousands of its price.
Not to mention that buyers will be in a good negotiating position. So, inspect the house and address any structural issues which you might have been putting off or have never noticed.
Ensure there are no roof leaks or sagging areas and replace broken or cracked tiles. Old or rotten flooring needs to be addresses as one of the first things new buyers do is replace the carpets.
Inspect the house for damp and mould and put in under control. Along with the cosmetic and structural changes, it’s worth looking into the electrics and plumbing for any issues. All of these can add significant value to your house, and increase the chances of selling it at a good price.
There you have it, if you follow the tips above you’ll be sure to set your house apart from all the others, improve your lifestyle and earn more money from it when you decide to sell it.