Renovations and home improvements are a great way to boost the value of your property, even though it might seem counterproductive to make changes when you’re looking to sell. But certain conversions and refurbs pay for themselves in the long run and could potentially add thousands of pounds onto your home.
Despite the pandemic and cost of living crisis, research shows that 39% of UK homeowners have plans to redo their homes. Here are the top five areas you should be focusing on to add the most value to your property.
The kitchen is the heart of your home so, naturally, you can expect big returns when you give it a well-deserved makeover. Buyers are looking for kitchen spaces that are bright and open where they can sit down and eat.
Getting the right kitchen layout is key to making it as functional as possible, but it doesn’t come cheap. A full remodel of a small kitchen could cost you anywhere between £6,000 and £9,000.
When renovated correctly, a freshly revamped bathroom could fetch some serious additional value to your home. First impressions matter, after all, and there is nothing more off-putting than a dingy washroom.
Even better, it won’t necessarily require too much effort on your part. Even small things like using sealant remover from suppliers like RS to change faucets, and tiles and reapply fresh sealant can increase the value considerably.
Increasing the square footage of your home by adding another room will instantly see your property’s retail value rise. House hunters love a loft or cellar conversion, and it can add 10 and 15 percent to your home immediately. These are a great option for old houses or homes in the city where there isn’t much room to extend outwards.
This is also a great opportunity to make your home energy efficient, which can save you a bucket load on energy bills and is another attractive component for buyers.
Off-road parking is always in high demand, and it is estimated that adding some to your home could add an eye-watering 10 percent to your property value. It will have the biggest impact in busy city locations but is still promised to make a statement in suburban and rural areas, so it is well worth the investment – even if you don’t drive yourself!
You could convert your front garden into a parking spot so new owners can leave behind the hassle of finding parking nearby.