Adding value to your home is not as difficult as might first appear. If you are determined to add value, this article will hopefully show you the way.
Let’s take a look at the five best ways, in our opinion, to add value to your home.
1. An Extension
This is the ultimate way to boost value because, in some cases, you can substantially increase the living space of your home. Although it is one of the most expensive ways to improve the value of your home, it also gives you the most back; so it’s a trade-off of sorts.
The difficulty with extensions is financing the project. It may be a case of sourcing some outside funding to get this project off the ground.
Take note that extensions that drastically reduce garden space have to be carefully considered. A large house with no garden is not always better than a modest house with a modest garden.
You also need to consider the fact that some extensions may require planning permission. Check with the local authorities to ensure you are not falling foul of any regulations. If you go ahead without checking, you could be forced to pull the whole structure down if found to be in breach of the rules.
2. A Conservatory
Conservatories are always popular because these add a room to the home that any owner can enjoy for years to come. As detailed above, the major downside is that it takes up garden space. Homes with already-small gardens may decide against this option.
3. Add a Bathroom
Bathrooms are immensely popular right now due to the demand for en-suites. A new bathroom can cost anywhere from £2,000 to £6,000, depending on the various fittings and tiles you decide on. An en-suite bathroom, even if it reduces the size of a bedroom, can add up to 6% to the total value of a home.
4. Central Heating
Central heating is something many of us take for granted today. However, there are still homes with no, or antiquated, central heating systems. Today’s systems are cost-effective in terms of fuel efficiency and environmental impact.
In terms of a housing improvement, it will cost about £3,000-£4,000 to install a new system, but it can add a massive 5% to the value of a home. It practically guarantees a return on investment.
5. Sprucing Up
While the above suggestions are quite significant and require a tremendous amount of input in terms of time and finance, for those with perhaps no access to funding, a simple facelift could add thousands to the value of a home.
Here are some of our recommendations:
• Masonry paint. The outside of your home is that which catches the eye immediately. Make it look fabulous and you are more likely to get the price you want.
• Replace kitchen countertops.
• Buy new soft furnishings.
• Redecorate the walls.
• Clean up the garden.
In terms of tangible benefit, the above do not really change much of anything. They simply go toward making it more likely that you’re asking price will be accepted.
Bear in mind that selling your home and getting a good price is about appealing to the emotions of the potential buyer.
Working out Financing
Any home improvement relies on getting your finances in order first. For larger projects, you may have to approach a bank and obtain a home improvement loan. If you have a good credit record, this should be relatively easy.
We recommend using your own money when possible. This way you can avoid interest charges, and you will not need to wait for approval, etc. Also, you do not have to worry about making any repayments.
Conclusion
Adding value to your home isn’t rocket science. It is about working out what people are looking for at that particular time and then implementing it. If there’s a trend where people want big gardens, for example, you wouldn’t add an outward extension.
At the end of the day, as long as you do your due diligence before getting started, you will always find a good way to add value to your home.
Author bio: Kingfisher, in UK, is a professional manufacturer and Suppliers of Building Products like anti mould paint, block paving sealant, roof coatings, roofing paint, paving sealer and sealing block paving at very reasonable rates.
