There’s no doubt that certain improvements can add significant value to a property. We have had a look at four of the best ways for you to invest your time and money to improve your home.
Making the outside look nice
Giving the front of your house a new coat of paint, tidying the front garden, and cleaning the windows could add as much as £5000 to the value of your home. It’s all about making it look welcoming and enticing for prospective buyers and tenants booked in for a viewing.
Extensions and conservatories
Adding an extension or conservatory will nearly always add value, but it’s not a cheap project, so it’s best to do some basic research in advance. Gauge how much value this will add by looking at prices for similar properties in your area that already have extensions and conservatories. In the same way, it’s a good idea to look around your local area for similar extension projects and talk to people who’ve done them – this way you’ll be able to gauge your chances of getting planning permission. Applying for planning permission costs about £300 and unfortunately the fee isn’t refunded if your plans are rejected. Also, remember that gardens and outside space add value to a property – so don’t build a big extension to the detriment of the majority of your outside space.
Making space indoors
Essentially, the more rooms you have, the higher the value of your property, and actually, “knocking through” to splice two rooms together and make space in this way will reduce the value of your property. So it’s best to think about adding space in other ways, such as converting a loft, basement, or garage into an extra room. A further bedroom, a utility room, downstairs bathroom, or study are all selling points, and of course, you’re unlikely to need planning permission for this kind of conversion.
Refreshing the kitchen
Tatty and dated kitchen units are simply going to lower your sale or rental price. Buyers will have to consider the time and money implications of replacing them. However, a nice trick is that you don’t have to shell out on a whole new kitchen – simply by replacing or refinishing the cabinet doors you can create a sleek, shiny and modern look. If you’re handy, refinishing or replacing doors can be done over the course of a long weekend, but otherwise, or to save yourself the time, hiring a good carpenter will result in a perfect finish and of course will be substantially cheaper than fitting a whole new kitchen. As ever, little details will make a difference, and replacing plastic light switch and socket covers with chrome or brushed aluminum is a smart plan. A tired kitchen floor is quite off putting – any kind of new floor covering will add value, but stone or tile will often add the most.