With the property market in recovery, increasing numbers of us are planning to sell. While some projects will add value to your property, others may not be worth the expense.
A luxury, high-spec kitchen might look the business, but if the installation costs are high, it may not add much value to your home. Equally, hot tubs and swimming pools might sound appealing, but could actually reduce the value of your home.
Smaller improvements such as a wood burning a stove, superfast broadband or double glazing are among the most worthwhile value-adding changes. But if you are planning to splash out then adding extra square footage in the form of a extra bedroom or bathroom will yield the best return.
In many parts of the country, house prices have risen consistently for the past 18 months. Investing in home improvements will help you obtain an even better valuation. Here are five improvements that could reap rewards.
It may not seem obvious, but many would-be-buyers actively avoid properties with slow broadband speeds. As more of us work from home and families spend time streaming TV and music, superfast broadband is fast becoming a key factor when choosing a home. If you live in a poor reception area, consider fitting a dish to receive satellite broadband.
Homes with double-glazed windows or secondary glazing on existing windows remain popular with buyers and fitting them will instantly make a home more appealing. It goes without saying that plastic window frames in a period property will deter most buyers.
Simple improvements can go a long way in making a property more appealing. First impressions count and a tidy lawn and new front door can create a welcoming impression. Simple steps such as a fresh coat of paint, clean windows and a general de-clutter will ensure your home is appealing to potential buyers.
An extra bedroom or bathroom
Home renovations that increase space are the best way to add value to a property. A loft conversion with a double bedroom and bathroom could easily add in excess of 20 per cent to the value of your home. Loft conversions are relatively easy to install and will not cause too much disruption. When it comes to loft conversions London has the highest proportion as space is at such a premium.
An appealing garden
Don’t forget the outdoor space at the rear of your home. Potential buyers like to visualise an outdoor lifestyle when they view a home. So consider outdoor furniture, a barbecue and decking area. A lovely outdoor space will make your home far more appealing than the one next door with a tatty, overgrown garden.
If you are hoping to add value to your home it is important to tailor any improvements to your buyers, not to your personal taste. Think carefully before you make costly changes, you may find they don’t add as much to the overall value of your property in comparison to the amount you have spent.
Creating extra square footage with a loft conversion or extension will always add value, but modest improvements are a more affordable option to maximise selling potential.