Whenever you look to renovate your property, an important factor to consider is if the proposed change will add value to your home if you were to sell it. There are some renovations which are more profitable if you were to sell your house in the future.
Increasing home value
Making your home more desirable to the key to increasing your home’s value. This could be an aesthetic upgrade or adding more space in the form of extensions and conversions. By adding living space, you can add more to your asking price.
Funding home renovations can be the largest part of the planning process. As you are thinking long-term you may want to use an equity release calculator to help you to free up money stored in your home. This will allow you to budget and plan accordingly.
An extension is where you add space to an existing structure. Common extensions are adding a conservatory to the back of your house, expanding a room downstairs with a single-storey extension, or doing a full two-storey extension to add living space as well as another bedroom.
The exact value that an extension will add does vary between property size, location and the type of extension, however, the value of an extended house can increase between 10 – 12%. Adding double bedrooms and bathrooms tends to add the most value. Speak to a property expert or architect before extending to see how this will actually benefit you in the long run.
Similarly to an extension, a conversion adds living space by changing the purpose of an existing space. Loft conversions are increasingly popular as the existing structure of the room exists. However, loft conversions do depend on the position of the chimney stacks and the height of the roof, among other factors.
Garage conversions are popular too. From extra bedrooms with an en suite to a playroom for your children, there are lots of ways you can utilise that space if you don’t need it for your car.
If you do not have the budget for a conversion or extension, an interior makeover could freshen up your house enough to look fresh and modern.
Kitchens are known as the heart of the home so it stands to reason that potential buyers look at the kitchen as desirable. You can upgrade your kitchen by creating an eye-catching splashback. Choosing tiles in a complementary colour to the rest of the space will help to draw the eye in and look more refined. Speaking of the colour of the space, there would be no harm in adding a fresh coat of paint to brighten it up.
Gardening and landscaping
The difference between an untidy garden and a well-designed looked-after garden can also affect your home’s value. But there are ways to give it a refresh without breaking the bank.
Aside from mowing the lawn, adding lighting can help your garden look loved. If you have a path, you could add solar lighting to light the way. If you have decking, cleverly looped fairy lights in a trellis can look charming.
If you want to embark on a bigger project, add some decking or a patio. Home buyers love being able to envisage themselves using the house as a home so by adding a patio or decking your visitors can imagine long, summer nights outside.
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