Adding value to your home is one of main reasons for tackling a renovation project.
But, which improvements add the most value? And, where might you be wasting your efforts?
Let’s take a look at how to add value to your home.
Adding value to your home: how-to
Property refurbishment adds value to your home. In most cases, it increases the amount of selling points, appealing to a larger amount of potential buyers.
If increasing the sale price is what you’re after, where should you focus your attention? You could ask local estate agents what buyers are looking for. But, for now, let’s take a look at some common culprits.
What adds value to a house?
1.Energy saving initiatives
Energy efficient homes are fast-becoming a priority for many buyers. There are a variety of ways you can future-proof your property and ensure it conserves energy.
Energy saving home improvements include:
- Double glazing
- Solar panels
- Insulation (e.g. loft, walls)
- New boiler
2. Deal with structural issues
Owning a property can go hand in hand with a number of structural problems, such as subsidence, rising damp or a leaky roof. Don’t wait until you sell your home to deal with them.
While you’ll need to spend money, dealing with any problems is essential when it comes to retaining and not losing value.
Find a local tradesman, ideally an expert with experience with similar properties, sooner rather than later.
3. Fit a new kitchen
Modernising your kitchen is one of the best ways to add value to your home. In fact, if you want to prioritise a room – start with the kitchen.
Kitchen features that add value include:
- Spacious storage units
- Energy-efficient appliances (e.g. fridge)
- Durable, stylish worktops
- Sturdy fixtures (e.g. sink, taps)
- Quality flooring
You could use a combination of the above to really enhance and modernise your kitchen. It’s not only about style, but practicality too.
4. Add more bathrooms
A home with two bathrooms comes out on top over a home with one. Families are no longer as willing to ‘take turns’. It’s estimated that an additional bathroom could increase a property’s value by £12,000 (or around 5%).
5. Build a loft conversion
Your unloved, un-lived in attic could provide another bedroom, home office, or extra living space. The cost of a loft conversion typically ranges from £20,000-£60,000, so you need to carefully consider if it’s an option for you.
On average, it increases property value by 20%, therefore it might just be worth considering.
6. Add an extra bedroom
Another double bedroom can add 10% to your home’s current value, which is around £30,000 (based on the average UK property).
7. New heating system
An old, energy-gobbling boiler will devalue your property and potentially put off future buyers.
Upgrade your central heating to a modernised, improved version. It’s key for adding value to your home, but you’ll also reap the benefits. Your EPC rating will likely improve, and you’ll save money on utility bills each month.
Want another way to save hundreds on energy costs? Switch energy suppliers to one backed by 100% renewable energy.
8. Rewiring, replumbing
Older properties might be crying out for their systems to be updated. Since this is a disruptive job, only carry it out before taking on any redecoration work. It might just be a good excuse to replaster the walls afterwards.
9. Update your bathroom
Bathrooms and kitchens sell houses. They also make them nicer to live in for the current owners, so it’s a win-win all round.
This doesn’t mean you have to rip everything out and start again. New tiling, grouting and hardware can make a huge difference.
Outdated colour schemes, peeling paintwork and damaged walls simply won’t go down well when it comes to future buyers. A painting and decorating job will go a long way in helping brighten and modernise your home.
11. Add a conservatory
If you like the sound of a conservatory, ensure it’s glass, cheaper materials are considered dated and may actually be a deterrent.
The average cost is around £4,000, but can increase to £10,000 depending on what you’re looking for.
Think conservatories have gone out fashion? Think again. They can add between 5-12% to your property’s value. While not as much as a loft conversion, it’s something to consider.
12. Re-do the garden
There’s never any harm in doing some light landscaping and making the most of your outdoor space. A nice garden is a big selling point, particularly with post-lockdown movers prioritising and looking for outside space. The criteria for ‘best places to live‘ has seen a significant shift!
13. Make the living room open plan
Lighter, brighter, bigger living rooms go down well with those looking to buy. This can help your home feel more spacious without having to extend it.
14. New flooring
Worn down? Stained? Simply outdated in style? It’s rare for all flooring to stand the test of time, updating it can transform the appearance of your home.
15. Add storage space
You don’t have to have a large property to be clever with the space. Built-in storage removes the need for bulky furniture and helps make better use of existing space.
16. Smart technology
Thermostats, security systems, doorbells… Technology can help you conserve energy and increase security – as well as stay on-trend.
17. Period features
It’s not all about modernising, period features have their appeal, particularly when it comes to the architecture of the property. Conserving or bringing these to life could help your home stand out from the crowd and give it some charm.
18. Do up the front garden
The front garden is the first thing people see – and first impressions count when selling! Many of us forget to give the front garden attention, but it can help improve the appearance of your home.
19. Off-road parking
On-road parking can be extremely difficult and expensive in some areas, so a parking space can go a long way. In fact, developers tend to add another 5% on top of a property price for a car-parking space, as people are willing to pay more for a home with one.
Window dressings don’t tend to add value to a home, with the exception of shutters. They can also add privacy. Go for half-height if you’re keen to keen costs down.
21. Garage conversion
90% of Britain’s garages don’t house a car, so why not make use of the extra space? Instead of ‘dumping ground’, think ‘home office’ ‘playroom’… There are many possibilities.
22. Remove internal walls
Particularly for those looking to climb the property ladder and buy another home, space is a big attraction. If you can’t/don’t want to extend, removing internal walls can make your home feel significantly bigger than it is.
An open plan kitchen and dining room, for example, will feel much larger without you having to add an extension.
Always instruct the help of a professional here – as some walls are load-bearing. Don’t be tempted to knock anything down without checking first! It’s also not recommended to DIY.
23. Apply for planning permission
Can’t carry out the work? Apply for planning permission anyway – if it’s granted, it will increase the value of the land when you come to sell. Bear in mind most applications are only valid for 3 years.
24. Create more natural light
Sometimes, it’s not about major building work, but making the most of what you have. Natural light is a major selling point, helping homes feel brighter and airier. Roof windows, for example, are an option. They’ll also help the room feel bigger.
25. Add an en suite
An en suite can add around 5% to your property’s value. When coupled with an extra bedroom in a loft conversion, this number rises to an average of 21%.
26. Build a summer house
Garden rooms, summer houses etc. can be a great way to add extra space and value.
Most of the time, square footage boosts value. Whether it’s a bigger kitchen or single-storey extension, use an extension value calculator to give you an idea of the money you can add to a property. Factor this in as part of planning a home renovation.
28. Convert your basement
Basement conversions can add between 10-15% of your property’s value, and help you make use of currently neglected space.
29. Replace the windows
Replace the windows and ensure that they’re:
- Well balanced
- Taller than they are wide
- Fit with the property’s aesthetic
- Double glazed
Home improvements that do not add value
Of course, there’s an inevitable flip side.
But, there are a number of improvements that don’t add value. You could potentially be wasting time and money taking on disruptive work.
Let’s take a look at some examples of things buyers won’t pay a premium for:
- Over-done, overpriced landscaping
- Cramped bathrooms
- Luxury wallpaper
- Expensive paint
- Swimming pool
- Tennis court
- Wine cellar
Things that put potential buyers off
Home improvement trends are constantly evolving, but many changes don’t add value. Some things that may put potential buyers off include:
- Overly dark rooms (e.g. grey paint)
- No bath
- Dark blue/grey kitchen cupboards
- Painted floorboards
- Tile floor in living spaces
- Patterned floor tiles
- Dark window frames
- Original sash windows (due to potential drafts)
- Wooden double glazing
- Dark grouting against white bathroom tiles
- Open plan layout
- With more of us working from home permanently, SOME buyers are looking for separate spaces – it’s constantly evolving
Need a home improvement loan?
Taking out a home improvement loan is just one way to pay for any work you choose to carry out. Get a quote below – without harming your credit score!