Sprucing up your home in an attempt to add value is a good idea, but it can also be a tricky task. As well as the time pressures you’ll have to contend with if you’re keen to sell quickly, it can be difficult to determine which home improvements actually have the potential to add value to your property.
Certainly, redecorating a room may make your home look a little nicer, but does it actually add value? In this blog post we’ll take a look at some of the home improvements that have the potential to add value to your property.
One great way to add value to your home is by doing up the bathroom. The first step to take is to invest in a power shower. But if you’re operating on a more modest budget, you can make smaller alterations like installing a new set of taps or a heated towel rail. These little things go a long way when it comes to adding value.
If you’ve got a bit more money set aside for improvements, adding an entirely new bathroom is a fantastic way to add value to your home. Also, converting an unused space into an additional wash area is a terrific idea if you have the space and time. According to property guru Phil Spencer: “A new bathroom puts 2.88 per cent onto the house value.”
Adding an extension has the potential to add a great deal of value to your property. However, investing in an extension isn’t to be taken lightly and will require some strategic planning (for example, adding a tiny conservatory to a sizable house won’t do much for increasing the price of the property). But the extra square footage and enhanced aesthetic appearance of a well-designed extension can make a huge difference to the market value.
When it comes to adding value, loft conversions are incredibly popular. And not without reason; according to a study compiled by Movewithus, converting your loft into an additional bedroom has the ability to add an incredible 9-10% to the value of your property. Of course, loft conversions don’t come without their difficulties (the need for meticulous planning and keeping your home insurer in the loop to name a few), but they are a great way to create extra space and potentially increase the value of your home dramatically.
The odds suggest your property is probably already fitted with central heating. If not, it should be top of your renovations list. According to Nationwide, adding a modern boiler and central heating system has the ability to add as much as 13% to the value of your home. Of course, this shouldn’t come as too much of a surprise. After all, what modern day homeowner is satisfied with a blanket to keep them warm during those long, cold British winters?
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