Home improvements make a major difference to the value and saleability of your home.
15 Jul 2019
Whether you live in a converted loft apartment in the heart of vibrant Nottingham, a traditional suburban semi in Solihull, or a period ironstone cottage in rolling east Leicestershire countryside, a facelift prior to putting your property on the market is likely to boost the value.
Around 65% of homeowners have renovated their kitchens before listing their property, followed by 29% who have installed new bathrooms and 22% who have added an extension, according to latest research from the National Association of Estate Agents. Latest home improvements have also seen 3% of homeowners erecting a summerhouse in their garden and 2% install smart technology,
Significant home improvements are expensive, so it makes sense to focus on projects that will add value when you come to sell.
The Federation of Master Builders (FMB) and estate agent members of the Guild of Property Professionals recommend these top makeovers:
Create open plan living: Spend £3,000 - add £25,000
Removing an internal wall to create a sociable open plan kitchen and diner is the top way to add value to your home. It could cost around £3,000 but add up to £25,000 to your home. Good news too is that this is a relatively simple project that most builders can complete in under a week.
Spruce up your kitchen: Spend £3,000 - add £10,000
A new kitchencan also significantly boost the value of your home. New worktops, cabinet doors and flooring don’t have to break the bank but will add significantly to the look and value of this hub of the home.
Convert your loft: Spend £20,000 - add £40,000
While a loft conversion is certainly on the pricier end of home improvements, adding a bedroom will boost the value of your property. An average cost is around £20,000 but could add double in value.
Create a downstairs loo or en suite: Spend £3,000 – add £10,000
A downstairs toilet is a big attraction to a variety of buyers. Adding one will make your home attractive to young families with children, people who like entertaining and don’t want guests traipsing upstairs, or to older buyers who might be looking to future proof their homes. Turning wasted space, like an understairs cupboard, into a loo can be a great project on a limited budget.
Another way to add extra bathroom space is to carve some space out of your main bedroom to create an en suite. The job should take around two weeks but will boost value.
Redecorate: Spend £1,000 - £5,000
If you are planning to put your property on the market make sure you give it a new lick of paint first, from the front door through to a general freshen up throughout. Getting professionals in might set you back around £1,000, but it could add up to £5,000 on your home’s value.
Get planning permission: Spend £400 - add £20,000
If you are preparing to sell your home and can’t afford a big project consider getting planning permission. Buyers are prepared to pay a premium to know red tape won’t stand in the way of their plans, allowing them to start works the minute they pick up the keys. Submitting a basic planning application costs but could add as much as 10% to the value of your home.
Even if your budget is tight, makingsmall changes can dramatically improve first impressions. Whatever your budget, there are always smaller improvements you can make to add value to your home.
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