8 Ways to Add Value to Your Home
Whether you just bought your home or are looking forward to selling it any time soon, your property is always a long-term investment. If you wish to make your way up the property ladder, you can add value to your home and ensure the best return. Adding value to your home can be as minimum as increasing the appeal to buy for buyers to even increasing its selling value.
While you might have just bought your property and are looking forward to settling blissfully, you can breathe life into your new home. If you are living in an old home, you can add a few installments, such as a new heating system. This addition will not only add more value to the property but also ensures you a wonderful stay until then.
But do check in with estate agents before making any drastic changes. Know whether any particular major home improvement is worth focusing on and if it adds value to your property or not. Also, do make sure that the cost of those improvements does not outweigh the profit.
Here are a few upgrades that add value to your home.
1. Space Conversion
Consider the conversion of any free space. A loft conversion is a safe investment and probably the easiest way to create an extra bedroom. The addition of a bedroom normally adds 10-15% to the property value.
You can also add an extension at the back of your home. These extensions can be great for the kitchen and living area. You can also turn your garage into a bedroom but remember to get all the necessary planning permissions.
Even though basement extensions have a bad reputation, if done right, they can be a terrific way to add value to your home. Consult an expert, and with their advice, you can always have clever ways to bring natural light into the basement.
2. Fixing any Problems that Appear
Temporary solutions and cosmetic fixes can mask the problems from the buyers, but such fixes cannot fool a valuer. Fixes such as chimney problems or missing or broken roof tiles and even cracked walls need prioritizing and fixing. Any rot and leaks in the roofs need to be fixed before you set your house for an evaluation. Damp shows up in survey reports, and if you do not have a damp proof course, you might need to face few difficulties in selling your home.
Also, jammed windows, squawking doors, and peeling paints require fixing/maintenance. Giving walls a lick of paint will also give your home a quick facelift.
3. Keeping the Place Tidy
It is no brainer that you will only get one chance to make a first impression and when it comes to your home, many potential buyers tend to make the decision based on the property’s kerb appeal. You can always increase your property’s kerb appeal by tidying up the place. Clean up the dead plants, paint up the front door, repair and feed the lawn, replace broken path tiles, and even renew the mismatched door furniture. Making a few adjustments and simply cleaning up can boost your impression to potential buyers.
4. Attractive Garden
A well-maintained and attractive garden not only adds value to your home but also makes your property look more appealing to potential buyers. While redecorating a garden, do keep in mind that privacy is vital and a sense of seclusion can add value to your house. A well-designed deck widens the buyer’s perspective on the property’s selling amount.
Even though your budget doesn’t fit in for a complete garden makeover, simple changes such as cutting back overgrown trees and shrubs, removing dead plants and weeds, repairing and feeding the lawn while adding color in the planting often adds more value to the property.
5. Revamping the Kitchen
Kitchen remodeling is an important way to make your home valuable. Revamping the kitchen doesn't always mean redesigning the entire kitchen from scratch. You can do some small changes such as replacing the stained sink or swapping the old microwave with a new one.
Adding to it, you can keep the fundamentals intact and replace the cupboard doors and handles for a new look. If you look forward to big changes, you can have potential multifunctional living spaces by combining the dining room and kitchen creating a dining kitchen. Such spaces not only add value to your property but also make your stay comfortable.
6. Bathroom Refitting
Refitting the bathroom is often a great way to add value. It is a smart move, and even if you cannot afford the entire remodeling, easy bathroom updates should work fine. Replace dated wallpaper with a faux or paint the walls into a nice neutral shade.
You can also add a touch of luxury by fitting in some adequate lights. For bathrooms without windows, you can add roof light or pipe light. If you want to give an updated modern look, you can replace the old vanity or add a new tile floor as well.
7. Splitting the House into Flats
If flats are in high demand where you stay, you can split the house into flats, and rent it out. This maximizes the rental income as well as profits you in a long run. Doing this has a potential 30% added value to the property. However, do have thorough research on your specific area before making any major changes.
8. Energy Efficient Homes
Energy-efficient homes are always a plus point whether to stay in or to sell out in the property market. An energy-efficient home can cut down your energy expenses during your stay while it adds value to your property when the time comes to sell. You can maximize the energy efficiency of your home by contacting a local utility company. Energy efficiency is surely a marketable asset in the long run.
Apart from these, you can paint your home before putting it out on market. Freshly painted rooms add the essence of a new home to the property. It is one of the easy ways to add value to your home. Enough living spaces are also a plus point when it comes to valuing your property.