Whether you’re considering a move in the coming years or have just moved into a new place and want to make improvements to your property, it’s important that you consider what will and won’t add value to your home. As such, we’ve outlined below 5 ways to add value to your property, whether you’re getting ready to sell or are simply planning for the future.
1. A Loft Conversion
It’s a well known fact that adding extra living space to you home can significantly increase it’s value and, as such, the most attractive way to do so is to have your loft converted. Whilst extending upwards can be both costly and time consuming, it’s almost guaranteed to increase the value of your home. One thing to bear in mind is that, in order for it to be considered an extra bedroom, you’ll need to make sure you get planning permission. In terms of how much a loft conversion can add to the value of your home, it’s generally regarded that in London it can add up to 15% whilst elsewhere, around 10%.
2. A Second Bathroom
We all know how frustrating it can be trying to manage the morning routine and, as such, another popular and common way to increase your properties value is to add a second bathroom. Whether this ends up being an en-suite alongside the master bedroom or even downstairs replacing a utility cupboard, for example, it’s certainly something to consider. If you’re in London, as an example, couples or families could be used to two or more bathrooms and if you’re only offering one, you may struggle to sell for that simple reason. It is thought that adding an extra bathroom can increase the value of your property by 3% in London or 7 – 10% elsewhere.
3. A Conservatory
Again, one thing which prospective home buyers love is extra space and an attractive way to do so is to add a conservatory to your property. By choosing the right type of conservatory which meets all planning regulations and offers a warm, spacious area can do wonders to your home and not only increase it’s value but make it easier to sell as well. In London you can expect a conservatory to increase the value by 3% or 5% throughout the rest of the country.
4. Add Double Glazing
If your property doesn’t have double glazing then having this installed is almost a necessity. Homeowners almost come to expect double glazing in every property nowadays and, as such, it’s often a case that if you’ve not got it installed, you’re actually devaluing your home. It is a well known fact that noisy roads can knock anything up to 20% off the price of a property and, as such, if you can ensure double glazing is in place you’re almost certain to be able to avoid this. Outside of London, adding double glazing can increase house prices by 5% with this being around 3% in London.
5. Repaint Your Property
If your property hasn’t been painted in years, would knowing that doing so could increase the value of your home by up to 10% in some areas get you up a ladder to do so? No one wants to purchase a house which appears to have seen better days and first impressions really do count. By ensuring the front of your house has had a fresh lick of paint, you’ll know you’re not putting off buyers and that you’re offering your property in a great light and ensure it gives off a fantastic first impression!
Of course, whilst these value figures are only estimates and no one can guarantee a sale due to any single improvement, what they will do is ensure your house can be put on the market at the very top of the price bracket that it’s worth and be far more attractive to potential buyers than others in the local area.