If you’re looking to add value to your existing home, there are several options available to you. But which ones add the most value? We’ve pulled together our top tips for helping you to increase your property’s value and to help you to get the best result when you decide to sell.
Top 5 Ways to Add Value to Your Home
1. More Space and Light
In real estate, dark and cramped are no good, so a little light goes a long way. If your house has small rooms that block the flow of natural light, you may want to consider knocking down some walls and opening up your floor plan. Open floor plans usually involve combining your kitchen, dining and living areas into one big space that suits a casual lifestyle. This makes a small house feel light and airy, giving the illusion of a larger living area. Open rooms create an inviting atmosphere for entertaining, because kitchen duties can be performed while hanging out with guests. It’s also great for young families because it allows parents to work on dinner while keeping an eye on the youngsters.
2. Don’t Park Your Garage Conversion Plans
Garages often end up as a dumping ground for clutter rather than storage space for a vehicle and most of them aren’t used to their full potential. If your property has other parking options, consider making the best use of this precious space and converting the space for your target market. Depending on the layout of your house, you may be able to add door access directly from your hallway. Once you have identified your target purchaser, consider converting the space into a gym, a study, a kitchen extension, an additional bedroom or a living room. The focus here should be on transforming the space into something with purpose. Remember to check what permissions you might need to obtain by discussing your plans with an architect or your local authority.
3. Be ‘Eco’nomical
With the cost of living continually going up, it can pay to make your home a little more eco-friendly.
Improving an old central heating system, replacing old windows with new, well-insulated ones or adding insulation to your home can add value to your home as well as impressing potential buyers, especially if it has been recently fitted. The Energy Performance Certificate in your Home Report tells your potential buyers what the energy efficiency of your home is and many buyers will look at this, particularly for larger, drafter homes with a view to controlling their bills.
4. Lofty Ambitions
Like the garage, your loft could be another space just waiting to be converted into pounds in your pocket. A loft conversion you might add another couple of bedrooms to your home and even an additional bathroom. Changing that empty attic space into a more useful space can be a complicated procedure, so it may pay to hire a specialist to draw-up plans and estimated costs for the job, but the final outcome can be well worth it.
A shrewd kitchen upgrade can make all the difference to your property value, but the key word here is ‘shrewd’. Make sure the amount of money you spend on any kitchen improvement is relative to the value of your home: there is no point spending huge amounts of money on a lower value property. Make sure to keep your potential buyer in mind and don’t go for something that might divide opinion, unless you are targeting a niche market!
Kitchen renovations are not easily done after you have moved-into a property, so they appeal to a buyer who wants the convenience of moving-in and simply adding colour and individuality through their own personal touches.
If there is only enough in your budget for one complete room transformation, choosing to spend this on your kitchen could be a great choice.