Adding Value To Your Home

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Adding Value To Your HomeWith UK housing market in its current state the prospect of home improvement is ever popular. Homeowners are now choosing to invest in their existing properties. Keep reading on for some of the most cost effective ways of adding value to your property.

Loft Conversion

A loft conversion can be one of the fastest ways to add value to your home. Loft conversions in the UK costs an average of £20,000 to £30,000 but are likely to increase the value of your property by an average of £20,000. With the average house price difference of £90,000 when moving from a three to four bedroom house, the prospect of a loft conversion is actually a very cost effective way of adding an extra room to your home without having to move.

Extension

Increasing floor space in any home is another key way of increasing the value of your home. On average a single storey extension will cost around £23,000 and £76,000 for a double storey. The added value can vary depending on the room created. Adding a bedroom for example may increase your property value on average by 12%. Adding a second bathroom can also add a further 6% to the value. In most cases if you increase your floor space by 30 square metres you are likely to increase the value of your home on average by 23%.

 Bathroom

A second bathroom is another favourite for homeowners trying to maximize the value of their home. Typically an extra bathroom will add 6% on average the value of the house. So it’s something to take into consideration that more value could be added elsewhere in the property. That being said, it may just be enough to convince potential buyers to settle on your property instead of another.

Conservatory

Conservatories are ideal for homeowners looking to quickly add value to their homes. In most cases they will not require planning permission making them a more attractive option than a full extension. On average conservatories can add 7% to the value of your home and are likely to cost from £5000 to £30,000, making them cheaper than a full extension, while adding a similar amount of value. It’s important to remember to make a conservatory feel part of the home so it may be an option to invest in some appropriate conservatory furniture to match the rest of the property.

Kitchen

Kitchens are also areas where improvements can be made and ultimately add value to the property. It’s important to concentrate on the Sink, Fridge and Cooker ensuring they are up to date as possible and are of equal value to the rest of the property. An outdated kitchen may in fact lower the price of your property. A new kitchen can add on average 4.6% value to your home and may also be an important factor for potential buyers when viewing your home.

Garden

It’s important not to forget the exterior when adding value to a property. It can be a huge selling point for your property, so it is worth spending a bit of time making sure your garden is tidy and perhaps investing in some garden benches and outdoor furniture. It is important to remember that potential buyers may not be looking for a high maintenance garden, so where possible make sure to keep your garden simple and tidy which should help showcase your garden to any potential buyer.

Ed Sloane is the MD of Home Life Direct – Online furniture retailer based in the UK, specialising in conservatory furniture and garden furniture

Editorial Team
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2 Comments

  1. DebbyBruck says:

    Wonderful recommendations and suggestions for upgrading the value of you home while you can enjoy living there and as a future investment in the property. @AmitV_Tweets