Investing in your home and adding value to your property

19/05/2015

add value to your propertyMaking additions or improvements to your home can not only make it more comfortable for you and your family as you live there, but it can also increase its value when you come to sell. However, some improvements or additions will add more value than others. If you’re planning to make an investment in your home it’s important to find out how much you’re likely to add to the value of your home before you begin.


Adding space
Creating more space in your home will not only improve your lifestyle but is also a good investment. There are different ways that you can achieve more space and some are more costly/time consuming than others.

An extension is a good option if you have enough garden space. According to a recent report, extensions can give around a 70% return on investment; however, the downsides are that an extension requires more planning, finance and disruption than other home additions.

Loft conversions and garage conversions are two other great ways of creating space that require fewer structural changes to your home, however, you will need to consult with an expert, such as KJ Hill, to see whether your property is suitable. It’s possible that you could make a 50% profit on a loft conversion as the number of bedrooms is a big factor on house values.

A conservatory is one of the best value additions to a home that you can make, sometimes delivering 100% profit or more. They don’t require a large investment, they’re quick to complete, look stylish and can greatly increase the downstairs footprint of your home. Modern conservatories can provide a very comfortable living space as the right design, glazing and ventilation can maintain a steady temperature. This means that a conservatory can be multi-functional and used as a study, living space, dining space, gym, play room or an extension to a kitchen.

With all of these options, the key is that the changes need to enhance your home and be of good quality. An ugly extension is unlikely to increase the value of your home. A conservatory that’s poorly installed or a garage conversion in a street where parking is a major problem could detract from the value of your home, so as always it’s vital to take the advice of relevant experts.

Making changes
If you are not in a position to create extra space in your home then you can make other changes that will add value.

Energy efficiency is really important, both for the environment and for keeping fuel bills down. If you don’t have double glazing in your home then I would suggest installing it should be your first consideration. It will lead to a warmer and more comfortable home for you and your family, reduce your energy bills and will bring it in line with most modern houses.

A new kitchen or bathroom will really smarten a home up. Fashions can change quite rapidly and whilst many buyers are willing to overlook a shabby living area, an old or unsuitable kitchen or bathroom can put buyers off, unless they’re looking for a project. Updating a tired kitchen or bathroom can potentially give you a 50% profit on your investment, however, I would advise staying neutral in order to appeal to a wider variety of potential buyers. You also need to take into consideration how long you intend living in your home after the re-fit if you’re looking for return on investment rather than a nice new kitchen for your family to enjoy.

Leave a Comment

{ 0 comments… add one now }

Previous post: