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There are plenty of ways to increase the value of your home
Want to know how to add value to your home? Our homes are an investment so, when it comes to property value, the question ‘how much is my house worth?’ is one of the most frequently asked. It’s then followed by an inevitable property valuation by a series of estate agents, which then results in most homeowners asking, ‘so how can I add value to to my home?’ If that sounds familiar, there are plenty of ways to increase the value of your home – from renovations, extensions and big decorating jobs, to smaller, more budget-conscious updates that will helps boost your homes selling power.
How to add value to your home
Before you make any big design decisions or start planning an all-out home renovation project, we would recommend speaking to a trusted local estate agent, who knows about house sale prices – and what sells – in your area to ensure that any amendments or additions that you make your home will, in fact, add value to the property. All homes have a ceiling price so it’s vital to make sure that you don’t end up losing money by doing renovations that don’t, in fact, alter the value of your home – although they may well be worth it if they make your home a more comfortable place to live.
Related: How to add £50,000 to the value of your home in just 7 days
So, whether you’re thinking of selling up or just want to add value to your home long-term by investing in it now, here are some of the most popular (and proven) ways to increase your property’s value and boost its selling power.
1. Plan a loft conversion
A loft conversion is the most cost-effective way to gain extra living space and you should be able to do it if your home was built before 1975 and/or the loft has a maximum headroom of 2.3m.
Work on converting an attic costs from around £20,000 – although on average a dormer loft conversion with a double bedroom and en-suite bathroom is more likely to be in the region of £35-45k – and takes about six to 12 weeks to complete. This configuration is the most popular option and, according to Nationwide Building Society, it could add an estimated 21% to the value of your home.
Related: Remember, take professional advice before you start to plan your loft conversion because it must meet building and fire regulations.
2. Build an extension
Whether it’s a side return or a glass-box extension, adding a single-storey extension can start at around £30,000, while two storeys are generally about 50% more expensive – so from approximately £45,000 (before VAT) depending on size and location.
3. Buy a better kitchen
Storage is always a key factor for buyers, and the practicalities of a kitchen in particular can really have an impact on how favourably potential buyers view a house. A new kitchen will make your property more appealing to buyers and, according to the Royal Institution of Chartered Surveyors (RICS), can add as much as 4% to its value.
4. Add value with a bathroom
After the kitchen, the next option is to spruce up the bathroom. A new en suite or second bathroom can add approximately 5% to your home’s value, according to Nationwide Building Society.
5. Go for glass
Adding a conservatory can raise your house’s value by as much as 15% (if it’s part of a full-blown extension), which is a great return on a relatively simple and cost-effective space-enhancing option.
6. Opt for eco-friendly elements
Making your home energy efficient saves you money, as well as adding value to your home in the long run; Some sources estimate that an eco-friendly house can fetch up to 6% more than a standard one. Many of the eco-friendly home improvements you can make, such as adding insulation and fitting solar-panel heating, make a big difference to your annual energy bills.
7. Create kerb appeal
You can also add value in simple ways; make a good first impression with your front door and hallway, and buyers feel more positive about the value of the property itself!
Use websites for improving your home:
For the Federation of Master Builders’ free booklet The Essential Guide to Home Improvement.
How will you be improving your home? Let us know how you add value to your home.