11 ways to add value to your home
By Katie Anderson on April 23rd, 2014
Why move when you can improve and boost the value of your home in the process? From converting your loft to installing a new kitchen or bathroom, extending and improving your home will add value – and even better it doesn’t have to cost the earth to boost how much it’s worth.
So where to begin? Which home improvements are most likely to add value to your home? We take a look at eleven of the most popular ways to increase property values.
11 ways to boost your property’s value
Deal with structural issues
Whether it’s a leaking roof, rising damp or cracks to walls, if your property has any signs of structural defects then these need to be addressed first and foremost. Structural problems will bring down the value of your home. Whilst purely cosmetic faults can be easily fixed, if the work involved is structural you will need the services of an approved and recommended builder.
Convert the loft
Adding another room will instantly add value to your home. Loft conversions are cheaper than converting your basement or cellar, and cost between £15-40,000. Whether you transform your unused and unloved loft into a new bedroom with an ensuite, add a playroom or convert the space into a home office, on average you’ll be adding around 12.5% onto the selling price.
Install a new bathroom
When it comes to a new bathroom think features. From a power shower and new taps to a glass screen and heated towel rail, you don’t have to spend a fortune on sprucing up the bathroom. If your existing sanitaryware is looking worse for wear – or a horrible colour (think brown, peach and advocado!) – installing a plain white replacement suit will transform your old bathroom. But if you’re after something with the wow factor, wet rooms continue to be all the rage.
Give the kitchen a makeover
We all know it’s the heart of the home. But did you know that your kitchen is one room in your house that can make your property more saleable? An old dated kitchen could even potentially lead to buyers making a lower offer on your home. The amount you spend on your new kitchen should reflect the price of your property. Don’t spend £25,000 on a kitchen makeover if your house is only worth £250,000. Equally, putting a £10,000 kitchen in property with a £1 million price tag will drag down its value. Depending on where you live, a new kitchen will add between 5-20% to the property value.
Add an ensuite
With households growing an extra bathroom is always a bonus. The Nationwide Building Society estimates that adding an extra bathroom can add up to 6% in value.
Convert the garage
Unless you currently reside in a fairly newly built home, there’s a very good chance that your garage isn’t being utilised for what it was originally intended. Over the years cars have increased in size, leaving many UK garages unfit for purpose. With surveys revealing that around 90% of garages in this country don’t house a car, they have become a wasted asset.
Add space with an extension
More and more people are choosing to sit tight and improve rather than move. Adding extra living space with an extension is going to add significant value long term. But they don’t come cheap. You could be looking at spending anything from £10-30k. But there’s good news. According to the Nationwide Building Society, an extension with a bedroom and bathroom can add as much as 23% in value.
Tidy the garden
Hands up if your garden is looking a little worse for wear? Sadly gardens up and down the country are used to being overlooked for the majority of the year. Left to their own devices, it doesn’t take long for our lawns and shrubs to take on a life of their own. Try to think of your garden as another room in your house and an extension of your home. It needs love, care and attention too. Start with a basic tidy up, cut the lawn, clear fallen leaves and tend to unkept flower beds. If you can stretch to it, install some decking and a few new plants.
Going green will not only bring your energy bills down but it could increase the value of your home by as much as 14%. So says the Department of Energy and Climate Change. Thanks to costly household energy bills, homeowners are wising up about the benefits of energy efficiency. Make sure you home is adequately insulated, be it loft insulation and/or cavity wall insulation. Installing a modern energy efficient condensing boiler and new double glazing replacement windows will also make your home more attractive should the time come to sell.
Add a conservatory
Perhaps not as popular as they once were, conservatories are favoured for adding space and light. Depending on the size and material conservatories can cost anything from £5,000 to £30,000. But they can add around 7% in value.
Think kerb appeal
Your home needs to look good on the outside, not just the inside. Remember, like it or not first impressions count. So get those broken tiles replaced, clear out the guttering, clean the windows, tidy the front garden/driveway and touch up any fading or peeling paintwork. Signs of neglect isn’t a good look – particularly if you want to get potential buyers through the front door!