Property sellers - which renovations can improve the value of your home?
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Our newsIf you’re a homeowner looking to take your next step on the property ladder, you will need to sell your existing home first. As such, maximising your home’s value will allow you to achieve the best possible sale price, and carrying out some home improvements can help with this.
While small home improvements – such as redecorating and tidying up – can add to the overall appeal of your abode, it’s the bigger improvements that can really boost your property’s value.
A recent study by Safestore investigated the landscape of homeownership to find the most popular areas of the home that people improve and the estimated value increase a renovation can provide.
It found that with an average cost of around £1,300, new boilers/heating systems can boost a home’s value by almost 2% and often have the biggest return on investment.
Refurbished kitchens and lofts also appeared high on the list, with both upping a home’s value by approximately 8%. Meanwhile, a renovated garage or storage area could set you back up to £7,000.
With this in mind, here at Balgores Property Group we’ve put together a rundown of some of the top home renovations that can bolster your property’s value.
Loft conversions
A loft conversion is one of the most efficient ways to add an extra room to your home. Although most lofts can be converted, you will need to get an architect or builder to inspect your home before you get started, and ensure that your landing can handle the extra staircase.
Loft conversions can be completed fairly quickly, assuming the area is wired properly. However, be mindful of moving insulation and any additional labour, such as having to replace roof trusses and altering your hot water system. Additionally, both loft conversions and extensions may require planning permission or building regulations.
Extensions
An extension involves adding extra square footage to the side of the house, which could prove to be a beneficial improvement when selling. The most popular room for an extension is the kitchen, which usually consists of building a narrow alley that runs adjacent in a typical terraced or semi-detached house.
Extensions are even more effective if you already have a garage. For example, converting the garage into another room and then expanding upwards to include an extra bedroom is guaranteed to add value to your home. As mentioned above, you will require planning permissions to perform an extension to your property.
Conservatories
Known as one of the most popular large-scale improvements among homeowners, conservatories make a favourable addition to the home and can be used all year round. Adding one is considered to be permitted development provided you meet the limits and conditions.
The most significant aspect of a conservatory you’ll need to consider will be the glass, so it’s best to explore your options carefully. For example, while double-glazing is the minimum standard permitted by building regulations, there are also the options of solar control glass and self-cleaning glass. Conservatories may also require planning permissions or building regulations.
Kitchens and bathrooms
As kitchens and bathrooms are key rooms in the home, you want to make sure they are the in the best possible condition. Of course, certain improvements may require planning permission depending on your location, so it’s worth double-checking.
A home with a ready-made kitchen could save a prospective buyer the hassle of revamping it themselves. Similarly, having a bathroom that is clean, smart and well-maintained may tempt buyers to keep it as it is. Consider updating the tiles or your shower enclosure to boost your property’s value.
With the majority of UK homeowners and buyers eager for a property that is refurbished and modernised, you could use the above improvements to boost the value of your property and command a higher asking price when selling your home.
At Balgores Property Group, we have many branches across Essex and Kent and can help you to get your property sold for the best possible price. To find out more, please get in touch with us at one of our offices.
Additionally, you can see how much your home could be worth on the current market by requesting a free and instant online valuation today.