If you’re seriously invested in increasing the value of your home, it will take more than a lick of paint. Major improvements take longer, involve real building work, and – let’s be honest – can be a bit of a pain at the weekends. But they can also help your property stand out in the market, making it far more appealing to buyers and helping you get a bit more money to spend on your new place.
So, before you roll your sleeves up, which home improvement should you go for? Buyers are typically most swayed by a home with a new kitchen, but there are plenty of other home improvements that can up its value. These are five popular choices for adding value to your home.
Bolt on a bathroom
Adding an extra bathroom will typically boost your home’s value by up to 5% – which doesn’t sound like much, but actually works out at nearly £15,000 for the average home in the UK.
Ensuite bathrooms are hugely popular – who doesn’t like the convenience of rolling out of bed and straight into the shower? The cost of adding in an extra bathroom can vary significantly, depending on whether it’s a full bathroom suite or a simple shower room, so costs can range from anywhere between £2,300 to upwards of £6,000.
Our advice is not to go overboard when it comes to luxuries like décor, tiles, and taps, which can end up costing a lot. It’s worth going for simple, affordable quality and thinking about what might appeal to buyers rather than making costly decisions based on personal taste.
Extend your property’s appeal
Adding square footage to your home is pretty much guaranteed to boost its value, and a single-storey extension won’t usually require planning permission (although you should definitely check).
Expect to pay upwards of £20,000 for this home improvement. Most people get and estimated added value of 15%, which works out at around £35,000 for the average UK home. Not a bad payoff – although you should decide if the time and effort is worth it.
Kit out your kitchen
Which? found that a new kitchen typically costs £7,000 and could add up to 10% to your home’s value. If your kitchen is particularly old or obviously in need of an update, it could be dragging your home’s value down, as many buyers would prefer the convenience of moving into a new place that’s already in great shape.
A room with a view
Conservatories are back in fashion, and for good reason. They’re a fairly cost-effective way to extend the space in your house, and if your property has a large garden (or even great views) a conservatory can help you enjoy them without having to go outside. If done well, a glass conservatory costing between £4,000 and £12,000 could increase your home’s value by up to 5% – which works out at an average of around £15,000.
But be warned – conservatories built on the cheap or made from plastic can actually put buyers off, and potentially even decrease your home’s value in the long run. They need to be high quality and provide lots of light in order to significantly impact your home’s value.
Lofty ambitions
To add more space to your home without extending outwards, consider a loft conversion. A typical loft conversion will cost around £55,000 to £80,000, but can add up to 20% to the value of a house. Whether it’s used as an additional bedroom, a home office, or a recreational space, a loft conversion offers so much potential – and buyers will love the extra space.
Article from Yopa - Joey D'Rozario
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