If you are thinking of selling your home in the near future or want to invest in your home to reap the benefits further down the line, you might be considering which home improvements will add the most value to your property.
Here, we detail some of the best home improvements that will give you the best return on investment when you come to sell your property.
Update your kitchen
If you can only afford to improve one room in your home, the kitchen is the one to choose. As the heart of the home, it’s the room that holds the most value for potential buyers so having a modern kitchen is a great way to boost your home’s worth.
How much you spend on redoing your kitchen should be proportional to the overall value of your home. If you cannot afford a whole new kitchen, repainting your cabinets and wrapping your countertops with vinyl can give your kitchen a facelift without breaking the bank.
Certain materials in your kitchen can add extra value – for example, marble worktops are highly desirable for buyers.
Modernise the bathroom
Bathrooms are also significant rooms in your home in terms of value – a modernised bathroom can add up to 5 per cent value to your property’s worth. new hardware and new tiles.
If you do not want to change the layout of the bathroom, new tiling and hardware can be enough to give your bathroom a refresh. For more complex changes, however, it is beneficial to remove the whole bathroom suite and start from scratch.
Having a bath and a shower is an important factor for a lot of buyers, and luxury features like power showers and underfloor heating can boost your home’s value further.
Neutral walls and flooring
If your home has worn or patterned carpets and wallpaper or bold coloured walls, this can age your property and make it less appealing to buyers.
You can add up to 5 per cent onto the value of your home by repainting the walls in neutral colours and replacing flooring with a plain alternative. Not only does this make your home more desirable, but it also allows house viewers to visualise what they would do with the space.
Add double or triple glazing
Single-glazed windows are notorious for heat loss and can be a significant turn-off for buyers. Around 80 per cent of homes in the UK now have double or triple glazing, so if your home is in the minority lagging behind, it may be worth investing in double or triple glazing.
If you are planning to live in your property for some time, this can also save you money on your energy bills by improving your home’s efficiency.
Attic or cellar conversion
An attic or cellar conversation are two of the home improvements that can add the most significant value to your property. An attic conversion can boost your property’s value by up to 20 per cent, especially if it has an en suite bathroom.
Cellar conversions – increasingly popular in space-deprived cities like London – can add up to 30 per cent to your home’s value depending on where you live, as long as the cost to build it per square foot is lower than the area’s price per square foot.
Build an extension
An extension can be a great way to add value to your home, but it may not always add more value than it costs to build. A home extension is a better long-term investment than short term boost before you sell. The average extension adds 15 per cent onto the value of your property, but the bigger the extension, the greater the value added.
A cheaper alternative is to add a conservatory, which gives you extra living space and can increase property value by around 7 per cent.
Apply for Planning Permission (even if you cannot carry out the work)
If you’re unable to do any work to the property yourselves, having planning permission to do so can increase your home’s value by up to 10 per cent. Planning permission is highly desirable for buyers as they do not need to risk their permission being rejected or wait lengthy periods for it to be approved.
Make living area open plan
Open plan living is highly desirable in today’s housing market, so knocking down walls in your home – such as between the kitchen and living room – can add around 5 per cent to your home’s value.
Curb appeal
Enhancing the curb appeal of your property can add a few percent to the value of your property without costing lots of money. You can paint or replace your front door, tidy your home’s exterior and add some flowers to make your home much more appealing to buyers.
For help and advice with your property finances, get in touch with the Choice Mortgage Solutions team today.