5 Ways to Add Value to your Home: From Building a Basement to Buying a Boiler
If you’re thinking about renovating your home, it’s important to consider what will add value and give you a good return for all your hard work, should you decide to sell. Here we look at five of the best ways to increase your property’s desirability.
Converting your Loft
Loft conversions are one of the most popular ways to increase space and add value to a home. Creating a new bedroom at the top of your house could add 15% to your property’s value. If you don’t have the option to go upwards, consider converting the garage, which could up your home’s selling price by 20%.
It’s important to check with your local planning authority whether you need planning permission. And if in renovating your loft or garage you’re losing storage space, consider how you can incorporate additional storage throughout the rest of your home.
Improve your Home’s Energy Efficiency
Energy efficiency improvements in your home range from small and simple – for example upgrading your loft insulation – to bigger and more expensive. Adding double glazing or buying a new boiler may cost more, but it will save you money on your energy bills in the long term. Additionally, making such energy saving improvements can increase your home’s value by up to 38% in some parts of England.
A Garden Makeover
Landscaping your garden can be a great way to add up to 20% to the price of your home. You need not spend too much either, as keeping outside space simple and low-maintenance is often most appealing to buyers. Buyers often look for high levels of privacy and security, so consider adding fences or tall plants if needed. Think about creating a lovely terraced area for outdoor entertaining, with suitable lighting.
Upgrade your Kitchen
A new kitchen can add anywhere between 5% and 15% to your property’s value. The possibilities are endless – you could make big changes, like knocking down a wall to create one big open-plan kitchen-living space, or extending into the side return (the narrow alley that runs adjacent to the kitchen in a typical terraced or semi-detached home). You’ll need to consider building regulations, of course. Or, you could keep it simple and update your current kitchen by replacing flooring, worktops and cabinet doors.
Digging down to increase the square footage of your home will require a team of specialists, but could bring you a healthy return when you come to sell. If you’re fortunate enough to have a cellar, consider converting it into a living or storage space – you could add up to 30% to the selling price of your house. This can actually be a relatively simple job, because if you’re house isn’t listed, you’re unlikely to need planning permission.