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It’s true what they say: nobody’s perfect – and neither is your house. There are a myriad of ways in which you can improve your home, and in doing so, increase its value. With so many options, however, it can be daunting to figure out which improvement will be the best time and money investment. The most popular home improvements are often not the most financially beneficial or even the most appealing to potential buyers.
Whether selling your home on the open market, at auction or via convenient residential property buyers like LDN Properties, you stand to benefit from investing in a little home improvement. Here are some of the home improvement endeavours that are most likely to add substantial value.
Adding between 10-15% onto the value of your house, a loft-into-bedroom conversion is a valuable and sought-after addition for several reasons. Not only does it increase the square footage of your property, but it also adds on to the all-important bedroom-count figure. Bonus value from this conversion can be found if you’re willing to add an en suite bathroom, although this will require equipping the loft with plumbing and water, an additional time and money investment. Despite this, loft conversions are still relatively non-disruptive for such a major improvement, even if you will have to hook the room up to your house’s power supply and add lighting solutions (roof windows are an appealing and efficient method of doing this).
Before you set out to convert your loft for any purpose, be sure that you receive Building Regulations approval. The space needs to be strong and stable enough to withstand the conversion. Plus, safety requirements will need to be met too.
In the right home, a basement conversion can add even more value than with a loft (up to 30%). Basement conversions make great living spaces, utility rooms, man caves or entertaining rooms-they’re truly versatile and are incredibly appealing to prospective buyers. Unfortunately, there are factors that could make this a less tempting improvement than a loft conversion, however.
It can be a far costlier initial investment, particularly if your basement is not equipped for such a space. You’ll once again need to obtain Building Regulations approval and also planning permission if a floor reduction (to increase the ceiling height) is necessary. Lowering the floor level can be an unpredictable task in terms of cost and time, depending on the material of the floor; plus, removing the excess materials introduces further work. Being underground, waterproofing the basement (known as Tanking) is also an essential task that will need to be carried out to protect from the hydrostatic pressure that surrounds the basement. This may sound like a lot of additional work, and it is, but the return on investment for a conversion like this can be phenomenal.
Front and Back Garden Improvements
Not all the worthwhile improvements take place inside the house. The front and back gardens can be fantastic opportunities to implement some value-boosting additions (up to 10% value increase). A key feature can be a smart addition to any garden that’ll increase your property’s value: a multi-purpose external building, children’s play area or decked seating area are all strong ideas for a key feature. Any of them will increase your property’s value and contribute to the initial wow factor for your garden.
Patios add some structure and variety to the garden; plus, the discrete zones they create serve as great spots for stylish garden furniture, ideal for helping buyers envision the garden as a space for entertaining guests. Privacy features-tall fences, hedges, trees, etc. – help reinforce the idea of a garden as a space for entertaining and increase its value further.
Focusing on your house’s kerb appeal (how it looks from the pavement outside) serves the dual purpose of increasing value and also creating a stellar first impression on prospective buyers. Installing a driveway is one of the more cost and labour-intensive ways to improve kerb appeal, but even pressure washing the driveway, planting flowers and keeping the area presentable can make a noticeable difference.
Open Plan Kitchen
While not the most valuable improvement mentioned here, creating an open plan kitchen can still add around 5% to your house’s value. Open plan kitchens help give your house an appealing modern feel that naturally accommodates guests and suits the open interaction style of a large family dynamic.
While 5% may not sound like a significant value-increase, open plan kitchens have the added benefit of creating a cohesive living environment that flows from room to room-this effect is amplified if the house’s aesthetic style is consistent. Additionally, open plan designs lend themselves to a brighter, more inviting environment that will draw in potential buyers and increase the amount they’d be willing to pay.
Energy Efficiency Improvements
These may not be the most exciting, but implementing energy efficiency features like double-glazing or an energy efficient combi boiler or an electric smart meter can increase the value of your home (by around 4-10%) without requiring significant costs, planning or time. If you’re strapped for time but still want to improve your house’s value, consider implementing one of these cost-saving measures.
With a smart use of time, money and resources, you can seriously increase the value of your house while making it a more appealing property for buyers too. Loft and basement conversions will have the greatest impact, but they’re costly, time-consuming and require adequate planning-if they’re even an option at all. On the other hand, improving your house’s exterior, creating an open plan kitchen or implementing energy efficiency features are less demanding changes that can also make a difference to your house’s value. As a homeowner, you have countless options; it’s down to you to choose what’s right for your home.
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