Significant home improvements can be expensive, so it is important to consider how your plans will add value to your home. Many are choosing to improve rather than move properties. So, we have provided 10 tips to make your property better and add value.
Knock down a wall for an open plan living area – Spend £3,500 – Add £27,000+
From research, it has been identified that removing an internal wall to create an open plan kitchen and diner is the best way to add value to your home. It could cost around £3,500 but add anywhere between £27,000 to £48,000 depending on the location of where you live in the UK.
Not only does this add value to your home, but it also makes the property more pleasant to live in, with more people opting for spacious living because of lockdowns. Knocking down walls means more communal spaces, especially if you are a family and enjoy spending time together.
To make this opportunity even better, this relatively simple project can be completed in under a week, meaning you could make almost £50k in just 7 days!
Build a garden room – Spend £6,700 – Add £10,000+
Another option to consider is building another living space outside. According to research, building a garden room can add between £10,000 and £36,000 depending on the size and the location of your property.
Spruce up your kitchen – Spend £4,000 – Add £15,000+
A new kitchen is not just a treat for you, it can significantly boost the value of your home. Putting in a new worktop, cabinet doors or floor does not have to break the bank – it costs £4,000 on average. However, research suggests that this project could add between £15,000 and £17,000 depending on the location of your property.
Create a downstairs loo – Spend £1,500 – Add £26,000.
A downstairs toilet is a big attraction to many buyers. Adding one will make your home attractive to young families with children, those who like entertaining and do not want guests wandering upstairs, as well as elderly buyers who are looking to future proof their homes.
So, turning wasted space such as a downstairs cupboard into a loo can add value to your home. This is a great project if you have a limited budget.
Make way for an ensuite – Spend £5,000 – Add up to £15,000.
Another way to add extra bathroom space is to carve out of your master bedroom to create an ensuite. The job should take around 11 days but could add up to £14,525 according to research.
Create a parking space – Spend £2,000 – Add £13,000.
We all love a green front garden, but if parking is at a premium in your neighbourhood, then paving over part of your front garden could significantly boost your properties value. A parking space can add as much as 13% to the property value according to Direct Line.
Further research shows that a new driveway could add £13,354 to the value of the average property in Surrey in areas such as Surrey.
You will need to check if you need planning permission from your local council to do this project. Usually if your home is not on an A or B road you will not need permission, but you will have to comply with your local authority’s regulations on dropping the kerb.
Spruce up the back garden – Spend £4,000 – Add £9,000.
Gardens are often overlooked for property projects, but by spending a bit of cash on your green space can be very rewarding. Research has found that adding decking and lighting to your back garden can really boost the asking price of your property. In some areas, a property could be worth £8,946 more after improving the garden but would only require the owner to spend £3,971.
Decorate – Spend £1,000 – Add £5,000.
If you are planning to put your property on the market, make sure that you add a fresh lick of paint first. If you were to hire professional to decorate your home, it could cost you £1,000, but it could add £5,000 to your home’s value, according to property experts.
Convert your loft – Spend £20,000 – Add £40,000.
Homeowners looking to add floor space could significantly add value to their property. Loft conversions can cost around £20,000 on average but could boost the home value by an astonishing £40,000 according to research.
And finally, before you start ask the experts.
Improving your home does not just add benefits to your home life, it also provides a big financial boost when you sell. However, if your primary aim is to add value to your property then you should consult and expert first to make sure you will get return on investment. You should invite an estate agent to value your property and ask them what they think will add the most value.
At Boxall Brown & Jones, we have property professionals who understand the property landscape. We want you to feel at ease when it comes to properties, no matter what services you require.
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