How To Boost Your Property’s Value
Whether you are on the property ladder or not, it’s important to know how to maximise the value of your home. Home improvements can be a worthwhile investment, but choosing the right type of renovation is key. Luckily there are some fabulous solutions for you to choose from without having to spend the big bucks!
Assess the costs
You need to get a decent return on your investment when it comes to selling, so it’s important not to overspend. If the average house in your neighbourhood is worth £200,000, then your house won’t sell for double the price – no matter how much you spend renovating it!
What you get back on your investment depends on:
• The value of your home
• The value of homes in your immediate area
• Quality of the project undertaken
• How soon you’ll sell after making the improvements
Install a downstairs toilet
Installing a second bathroom may set you back a few thousand pounds, but it can increase your property value by up to 6.10%! Ideally, you should install your second bathroom on the ground floor to allow easy access for guests and elderly occupants. This assures potential buyers that the property will be suitable for them in their old age. Making use of the space you’ve got, you can install a toilet under your stairs in as little as 1-2 weeks!
Renovate the kitchen
We all know the kitchen is the heart of the home, but over time it will start to show signs of wear and tear. This is why it’s important to give it a revamp and decorate it in a cost-effective way that will attract potential buyers. If your work surface is looking a little weary, bring it back to life with a deep clean, some worktop polish and a brand new kitchen sink and taps. Alternatively, re-grouting and re-painting over your old tiles and cupboards will freshen up the décor. Always keep expense in proportion to the size and value of your property and don’t over-invest. For example, investing £20,000 in a kitchen wouldn’t necessarily boost the value of a semi- detached home worth £150,000.
Opt for eco-friendly elements
Making your home energy efficient saves you money in the long run and boosts the sale price of your home. Buyers want a home with low running costs and sources estimate that an eco-friendly house can sell for up to 6% more than a standard one .There are many eco-friendly home improvements you can make, such as adding insulation and fitting solar-panel heating. Laying thick loft or cavity wall insulation can save a homeowner between £120 – £250 per year, whereas a solar water heater can provide up to 70% of hot water for free!
Spruce up the bathroom
An attractive, hygienic and functional bathroom is important to buyers. Replace any damaged fixtures and make sure you eliminate any sign of mould & mildew using either borax, white wine vinegar or a specialised mould spray. Also make sure at least one bathroom has a shower – it is an essential for most buyers.
We all know a bigger bathroom is more appealing, so create the illusion of greater bathroom space with a few nifty tricks. Use mirrors to bounce light around the room and opt for a chic shower glass screen rather than a shower curtain. This will add depth to the bathroom and visually open up the area – tricking the eye into thinking the bathroom is larger than it is!
Plan a loft conversion
If you want to go big, then sometimes it’s best to work with the space you’ve got. A loft conversion is the most efficient way of gaining extra living space and is more cost-effective than a single or double storey extension. Moreover, an attic conversion doesn’t encroach on valuable garden space like a normal extension would. An attic conversion can cost from £20,000 and a more complex dormer loft conversion with an en-suite bathroom can cost £35-45k. According to the Nationwide Building Society, a loft conversion can add up to 22% to the value of your home.
Bathtubs boost saleability
Having a bath can dramatically improve the marketing of your property and may subsequently increase the house price. First-time buyers usually look for a family-friendly environment, and not being able to bathe their young children is likely to put them off. Families on a tight budget don’t want to spend extra on a bath purchase and installation. Having a bath may improve the time it takes to sell your house and could increase the amount buyers are prepared to offer.
To boost your house’s value, check out the wide range of discounted plumbing and heating supplies available at PlumbNation.