The Ultimate Guide to Adding Value to Your Property
Whether you’re thinking of selling your house or looking to make home improvements, the following guide will help you choose the right ways to add value to your property:
Extend or update?
A conservatory is the easiest way to extend your home as planning permission is not usually required, but you may still need to follow certain building regulations. Think about what style of conservatory will suit your lifestyle and fit in with the rest of your house. Look at different glazing options and frames and find out which would perform best for you as well as the cost. If you want to use your conservatory throughout the year, consider a tiled roof. This will also add value. A conservatory can add up to 10 per cent of the value of your property.
You may decide to update your bathroom or kitchen as these can both add value, although they are a big investment. If you want to cut costs, stick to your original layout, use floor-mounted sanitaryware and either ask for work to be done when sales are on or purchase a suite and get someone to fit it. You could simply paint the walls, re-grout, remove limescale build-up and replace taps and shower curtains, although a new bathroom will make a home more saleable and will increase its value by around 5 per cent.
The cost of a new kitchen can be extremely daunting and there are ways of updating what you already have if you are on a tight budget. Replacing cupboard doors and handles, painting units and redecorating the walls can make a huge difference, as can new lighting and de-cluttering. You could opt for an open plan kitchen and dining area, which is much cheaper to achieve and can still add 5 per cent to the value of your home. If, however, you want to go all out to create a kitchen of your dreams, why not consider extending your kitchen into a narrow alley running adjacent to the kitchen to create more space? This is classed as a side-return extension and will have certain building regulations and possible planning permission needed depending on size and change of use of doors. This can add up to 15 per cent to your property value.
If you are not sure what to extend, ask the local estate agents to find out what is attractive to potential buyers in your area. Then if you plan to sell, you are more likely to increase the value of your property and get your asking price.
Repair and replace
It is vital to make internal and external repairs to add value to your property and to attract more buyers. The first thing a potential buyer sees is the outside of the house, so ensure any external issues are fixed as a priority. Painting, rendering and repointing are important issues, and they will most certainly want to see a sturdy roof. Make sure you use a reputable company such as Signature Roofing to carry out repairs or re-roofing projects. Look at the doors, garden gates, fences and garden outside and fix issues like squeaking floorboards, dripping taps and broken lightbulbs as well as bigger issues such as damp on the inside.
Convert a storage space into a living area
Loft conversions are becoming increasingly popular and could increase the value of your home by up to 15 per cent. Always ask a professional for advice before you start and think about the type of conversion you want. Some may need planning permission and can cost more depending on how much of a structural change you are making. A double bedroom with en-suite bathroom would add the most value.
If you have a cellar, you could turn this into an extra living area and increase the value of your property by up to 30 per cent, often without the need for planning permission. If you don’t have a cellar, you could add one, but this is much more costly and requires expertise and specialist skills such as structural engineering, excavation and waterproofing.
Converting a garage into a bedroom can also increase your home’s value if you don’t use it for your car and you have parking space outside. Planning permission is often not needed, but you will need to check that your garage can be converted and if you go ahead, you will need to adhere to certain building regulations. Remember that parking your car on a driveway or street can increase your insurance premium too.