Which Home Improvements Add The Most Value?
Wondering which home improvements add the most value to your UK home? Sometimes significant improvements are expensive, but it’s vital to consider how your plans will actually add value to your house. Read our guide on how and when you can add value throughout your property and which of these improvements are actually worth it.
In most cases, just dealing with outdated colors and setups would bring your home value up, and would increase your chances of selling. However, sometimes hidden structural issues can be pointed out and if are not addressed you can jeopardize your safety and, of course, your house sale.
You should always be on top of structural issues, such as subsidence, as this will massively impact your property value. Would make no sense to carry out cosmetic or internal improvements, such as replastering or installing a new bathroom, if the building structure has issues.
Some structural issues can be related to rising damp, cracks in walls, bowing walls, rotten joists or timber, insect infestation, missing roof tiles, unstable chimney stacks, or even a collapsed floor.
It is believed that converting your loft into an additional room can increase the value of your home by up to 15%, and even more if you add an extra bathroom.
This is especially true for homes in dense urban areas, such as London, where space is limited, and homeowners in these areas are more likely to renovate their loft space.
However, if you live in a more rural location or have more space, it may be more cost-effective to extend your home outward rather than upward. You can make some changes to your loft space without needing planning permission, such as converting up to 50 cubic meters of space.
If your plans exceed certain limits and conditions, however, you will need to obtain planning permission, including for any structural changes to the roof space.
Is always a good idea to redecorate and to complete easy upgrades before you decide to put your house on sale. In most cases, a fresh coat of paint in a modern colors can go a long way along with some easy maintenance jobs, such as fixing dripping taps, squeaky floors, broken lights, etc.
Do not underestimate the importance of kerb appeal when comes to your home. Hiring professional could set you back £100’s of pounds but can add £1000’s to your home value.
Gardens are often overlooked when comes to home improvements and in 9 out of 10 times we would invest into a new cloakroom then into a garden, despite that we would spend half of our summer within the garden.
You do not need to invest massively, with some landscaping, some fence paint, some decking and some lights you can boost your house value quite significantly. Keep in mind, that an airy and tidy garden will be perceived as modern and appealing to most of us.
A good way to add value to your home and to improve your daily comfort is to look at your heating system. Many old houses had either no central heating or an old fashioned system.
Adding or updating your heating system definitely would boost your property value, especially if you opt in for a greener solution, such as solar heating water system along of solar panels.
Also, look into replacing your old windows and/or doors with a modern energy-efficient equivalent. Even, if you will be set back a couple of thousands, you will improve your living quality along with adding value to your property. Do not forget to search if you qualify for any of government grants and/or local council schemes.
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Another option to consider when you are planning what home improvements you can do, is adding another living space. Building a garden room adds around £20,000 to an averagely valued home in Hampshire, or £10,000 to £12,000 in London according to FMB and The Guild of Property Professionals.
A new kitchen would be the most logical step when comes to home improvements because a study carried by FMB found out that 35% of buyers will look for a new and modern kitchen when comes to their dream house.
Putting in a new worktop, cabinet doors or floor could cost you between £3,000 to £8,000, but it could add more than £12,000 to the value of a London property or £15,000+ to a Surrey home.
Given that the number of cars is raising each year and our streets are getting busier, having a parking space is a must in today’s circumstances. Of course, sometimes means that we need to give up to our front house greenery, but if you can spare the space, would definitely worth paving it and create a parking space.
A parking space can add as much as 13% to the value of your home according to an important insurance provider. However, is important to check with your local authority if a planning permission is required or not before you start.
If your garage is not being used to store your car, it could make sense to convert it into a living space. As a first step, you need to check if is suitable for conversion and whether you need planning permission.
In many cases, the work involved in converting a garage will be classes under permitted development, but you should check with your local authority just to make sure.
Keep in mind, with or without planning permission, some building regulations will still apply and you can use your local council’s building control service or an approved independent inspector to make sure you comply with regulations.
The potential value added to your home by converting a garage into a bedroom can be up to 15% of your property value.
Sometimes, you would not be able to afford a big project to boost the value of your home, but you could consider getting the planning permission because buyers would be prepared to pay quite a premium to avoid the paperwork involved into an extension.
So submitting a basic planning application can cost you couple of hundreds, but you could ask as much as 8% to the value of your home according to Hamilton Fraser report.
We hope that our “How to add value to your home” guide will help you understand where and how you can add value to your property. And if you are not sure about building regulations or planning permission requirements, always ask for professional help. This can save you time, effort and money on long term.
There are several ways you can add value to your home in the UK:
Making renovations and updates to your home can increase its value. Some popular renovations include updating the kitchen, bathroom, and adding extra living space.
Add energy-efficient features: Adding energy-efficient features to your home can make it more attractive to potential buyers and also reduce your energy bills. Some options include solar panels, double-glazed windows, and energy-efficient appliances.
Landscaping: Improving the outdoor space of your home can also add value. This can include adding a patio, deck, or garden, or simply improving the appearance of your lawn and bushes.
Convert unused space: If you have an attic, basement, or garage that is not being used, consider converting it into usable living space. This can increase the square footage of your home and make it more attractive to potential buyers.
Make cosmetic improvements: Making cosmetic improvements, such as painting, updating fixtures, and adding new flooring, can also increase the value of your home.
It’s important to keep in mind that the value added by any of these improvements will depend on the current condition of your home and the local market. It’s always a good idea to consult with a real estate agent or a professional appraiser to get a better idea of what improvements will be most beneficial in increasing the value of your home.