The simple answer of how to add value to your home is to improve it. Whether that’s extending, modifying or styling. Ensuring your home is presented well and has certain desirable features will ensure that you add value when you come to sell it.
Ensuring your home is presented well and has certain desirable features will ensure that you add value when you come to sell it.
Putting your money into various home projects can see the costs really mount up. So, ensuring your projects are giving you the best chance of seeing a good return on your investment is key to making the most out of home improvements.
Here’s a list of 7 projects that are likely to add the most value to your home:
Lighting
A comparatively inexpensive home improvement option. Adding good lighting into darker rooms can really lift the feel of the living space and make it more appealing to potential buyers. Natural and electric light can be easily enhanced to increase the warmth of a room.
Skylights and sun tubes are excellent to funnel natural light into an otherwise dark room. Increasing bulb wattage and adding a dimmer function to electric lighting will enable you to brighten the space when needed and control the lighting levels to create mood.
Structural Repairs
This will likely be one of the more costly home improvements you will consider, but to ensure you are maximising on the value of your property any structural issues should be rectified. Check the roofing, guttering, walls and ceiling. Look for cracks and signs of damp. Then focus on the floors, plumbing and electrics in the property. Hiring a surveyor to give you a structural report on the defects of your property will flag up what your potential buyer’s surveyors are likely to find and potentially use as leverage to negotiate you down on price. By rectifying these problems ahead of selling you eliminate this possibility.
Windows
The term ‘kerb appeal’ is a real consideration for a lot of buyers. Your home may be beautifully decked out inside, but first impressions count and the exterior of your property could make or break a deal with your potential buyer. Windows can make a big difference. Old, outdated double glazing or cracked plastics can make or break the look of the exterior of your property. Choosing something that compliments the look of the house, be it modern or traditional, and ensuring they are well maintained will give a great first impression.
Style note: Grey fascias are a big trend right now on modern style homes and add additional character and interest to the exterior look of a property.
Flooring
You’ll be amazed at how a new floor can enhance the look of a living space. An old, worn carpet isn’t going to be desirable to potential buyers. Modern laminate or wood flooring is still very trendy and desirable, but if the budget doesn’t quite stretch this far a good quality plain/light coloured carpet will also help develop the look of a room.
Loft conversions
This is considered to be the most valuable home improvement project, purely for the vast amount of additional living space a loft conversion creates. Additional rooms typically equals additional purchase price. In 2014 Nationwide Building Society released stats that a loft conversion can increase the value of your property by up to 21%. Extending into the basement or over a garage would also have a similar effect.
Kitchens
More than ever the kitchen is a real focal point for potential buyers. A nice looking kitchen with enough worktop space is one of the key considerations for a lot of buyers. It doesn’t need to break the bank either! A simple change of unit doors and a good lick of paint could help too. A good kitchen can add around 5% to your overall property value.
Garden
A well-kept garden with various functions is a real selling point for potential buyers. Ensuring the lawn is maintained and the borders are planted with all year flowers is a great start. Consider decking, landscaping or a patio area for your outside space showing a clear place for outside entertaining. Showcasing how the space can be used to potential buyers will get them dreaming of long summer evenings sipping Pimms with their friends in the garden.
These emotional connections and visualisations are what sells houses.
With mortgage interest rates so low, there’s never been a better time to remortgage for home improvements. You may even be able to take a lump sum to fund your home improvements without increasing your monthly payments.
Our friendly personal advisers are on hand to support you to find the best mortgage deal for your circumstance, so you can get the most out of your mortgage and your home. Contact us.
See our guest blog about interior design to sell your home from Chloe Bullock from Materialise.
Kind Regards
Kevin Dunks
Managing Director