Home renovations that increase the value of a property
Making the biggest impact
The first question most people will have is “what exactly will add the most value to my property?”
In general loft conversions and kitchen or bathroom renovations will increase the value of a property the most but there are other ways too which involve less cost and effort.
What you should bear in mind is that with any property there is usually a ceiling price. This means that after a certain point any further improvements to the property will fail to increase its overall value.
When people arrive to view your property, walk past it on the street or drive past it in a car they will form some kind of impression of your home. The more attractive you can make it look on the outside, the more likely people are to want to come inside and take a look around. Small touches like tidying up the front garden and mowing the lawn can send out the message that your home is easy to maintain which will delight some buyers who might not have the time to spend on household chores.
Remodelling a kitchen can add a lot of value to a property but it can also be expensive. Some of the units in your kitchen might be salvageable with a fresh coat of paint, but it’s important that any worktops get replaced. They tend to be one of the takeaway points of a kitchen, and if they are old, scuffed and peeling then surveyors and potential buyers are certain to take notice.
Another thing that will notice is whether or not there is space enough for utilities like washing machines, dryers and fridge freezers. Additionally, extractor fans, well-placed energy efficient lighting and well fitted flooring can also win you extra brownie points.
A tiny or out-dated bathroom can be a real deal-breaker for some people, but even if your bathroom is small that doesn’t mean you can’t make it more appealing with a few well thought-out tweaks. Modernising fixtures, fittings and adding shower units and heated towel rails can add value to bathrooms and when it comes to flooring, vinyl or tiled flooring is best for the added moisture that a bathroom brings.
When it comes to a living room, it’s all about features. Potential buyers will want to imagine themselves relaxing in this setting so a living room should be cosy and inviting. Features like double glazing and heating appliances like wood burners and stoves are bound to add value.
Although some people will prefer open-plan styled kitchen / dining areas, for large families and people looking to invite friends over for dinner, a separate space with a dining table can be sure to perk their interest. However, open plan dining / living room spaces are becoming more common and you could always consider joining these two rooms together for a less formal type of space.
According to some figures, adding an extra bedroom to a property could increase the valuation by up to 11% if you have the space for it. One downside to creating an additional bedroom is that you might not have a lot of space to work with. To make the most out what you have you could use built-in-wardrobes and wall-mounted shelves for storage.
Unused spaces like attics or basements can be transformed into additional bedrooms or even an office for creative types who work from home. Once again, this all comes down to understanding what kind of buyers you want to market your home to– something that an estate agent can help you to decide.
There are plenty of ways to improve a garden with very little upkeep needed. Popular examples include adding decking areas, seating and storage areas. But by far the easiest way to leave an impression on visitors is to plant flowers and keep the garden tidy and free of weeds.
Taking care of any structural issues in your home will be sure to add to the value. A surveyor will make you aware of any problems that might need to be tackled before you put your property on the market. Don’t forget, serious potential buyers of your property are also likely to get a survey carried out on your property, and if this highlights any structural issues it may give them ammunition to lower their offer, or even pull out of buying your house altogether.
Source: Hudson Moody