If you’re looking at selling your home- or else you’re looking at doing some work to your house now, to benefit it further down the line – then being strategic and understanding what types of home improvements will increase the value of your home is key.
There are a number of options out there. Some, such as building an extension or else converting a loft space, for example, can be particularly expensive. Furthermore, unless you plan on living in the house for a reasonable amount of time after the improvements have been carried out, they are improvements that will only positively affect the lives of the person purchasing your home. This is great if it will add significant value to your home but not so much if you end up making a loss.
The cost of any work you pay to carry out should be reflected positively in the resale value of your house – if it doesn’t add value, then it probably isn’t worth shelling out for.
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Make internal and external repairs
If you notice something within your home that isn’t quite up to scratch -whether it be damage to the foundations, a crack in the wall or else a dodgy bedroom door- then a potential buyer of your house is definitely going to notice it and take it into consideration when making an offer on your home.
In the same way, any repairs that are required on the outside of your property are wise investments that will only ensure that, further down the line, you are offered the true value of your home by a buyer.
Consulting with a surveyor or a builder will allow you to assess the level of work that your home needs to ensure it meets this potential value.
While sprucing up parts of your home can be cheaper, often the best option is to replace. Replace windows with more energy efficient options such as double or even triple glazing will add value due to the fact it can save on energy bills. Furthermore, it may help your home receive an overall improved energy rating which is attractive to buyers.
Spruce up the place
While an obvious improvement to make, giving your home a fresh lick of paint can actually increase its value when you come to sell – and at a very small cost. In terms of appealing to buyers, having a neutral palette where they are able to envision their own taste and what they could do with your blank canvas gives them much more scope to want to buy your home.
If you’re looking for something to really make your home stand out from the rest, then add a memorable feature of some sort. Not only will it be gifted with a wow-factor, but it’ll also set it apart from similar properties in the area and raise its value as a consequence. When doing this, make sure that the feature you choose fits in with the overall theme of the house as well as corresponding with the building’s style and period.
Consider open-plan living areas
Open-plan kitchen and dining areas are much more appealing to buyers these days than a new kitchen would be. If the walls between your kitchen and dining area are non-load bearing, then you will be able to have them knocked through relatively cheaply, increasing your space and giving potential buyers exactly what they’re looking for- at a profit for you.
Open plan living areas provide much-need and much sought after space and light. To add even more light to a property, consider replacing lighting with window skylights in communal areas – not only does it allow natural light to flood into your property, your electricity bills, particularly during the summer months, will be significantly reduced.
Convert the garage
If you have a drive, then your garage may well be a gold-mine you would have otherwise overlooked. The vast majority of people use their garage as a place to home everything that doesn’t have a home so replacing it with a decent sized living space would only be beneficial to you as a seller and your potential buyer.
While the cost of investment may be higher than the price of smaller renovation projects, the profit that you’re likely to achieve as a result of it could be substantial.
Don’t forget about your garden. Not only can making sure your garden is well-tended and attractive to the eye add value to your home, but it can also make the property one that is much more appealing to any potential buyers. Clear up any litter and uproot dead plants, mow and feed the lawn if there is one and make sure that any patio surfaces or stone features are in good condition, without cracks.