Which Home Improvements Add the Most Value?
If you’re considering putting your house on the market, it makes sense to think about renovating to add value to your property. Not all renovations are equal, however, so it’s worth doing some research in order to find out which ones offer the best return. The My Build My Way team has done some of that work for you. Based on our experience, we’ve come up with 5 home improvements that add value to your property.
1. Add Off-Street Parking to Your Property
This is a project that won’t cost you a fortune but is guaranteed to add handsomely to the value of your property. Parking space is at a premium if you’re located in a town or city, and for this reason it’s high on the list of buyers’ requirements.
Turning your front garden into a parking spot is likely to require planning permission from your local council, as you’ll need to drop the kerb, and reinforce the pavement. The project can cost between £5,000-£15,000 and it’s likely to add an extra 13% to your asking price.
2. Provide Open Plan Living Spaces
As the shape of the family evolves, homes require a more flexible and adaptable space to accommodate them. Larger living spaces allow families to spend time together, whilst folding doors allow for different activities to occur within the same space.
When designing a multi-functional space, it’s worth giving careful thought to how it will be heated. The last thing families need at present is a cavernous space that’s expensive to use. Get the design right, though, and an open plan space will add up to 5% onto the value of your home.
3. Redesign a Bathroom
Creating a new bathroom can be prohibitively expensive, and so can changing the layout of your existing design. For the best value, we would recommend replacing your existing fittings with stylish contemporary ones. New décor and lighting can lift the environment from functional to fabulous.
A bathroom redesign will add value to your home as it’s a popular feature with house buyers. Even with a fairly modest renovation, you will increase your asking price by 3-5%.
4. A New Kitchen
Unlike the bathroom redesign, a kitchen renovation requires you to do far more than replace your units if you want to add substantial value to your home. Large kitchens are popular, especially if they offer the potential for a combined kitchen/diner.
It may be the case that your renovation project requires the extension of your kitchen space in order to create a layout that will appeal to buyers. This could mean a price tag of around £50,000, for a return of 15% added value on your home.
5. Loft Conversion
If you’re selling a house in an urban location, converting the loft could add 15% to your home’s value. Buyers will like the fact that they are saved the disruption of realising the property’s full potential, especially if there’s no space to extend into the garden, or to the side of the property.
A loft conversion needs to include an ensuite bathroom and, if you want to alter or extend the roof area, will require planning permission to go ahead. It’s a large-scale project that could cost between £20-30,000.
My Build My Way Helps With Home Improvements That Add Value
My Build My Way helps homeowners to add value to their property. How do we do it? By introducing them to architects and builders offering top-quality support at competitive prices.
If you already have your plans in place for a home renovation, we can put you in touch with local builders who have been verified by us. We work solely with Trustmark approved building companies, so we can vouch for their reliability and trustworthiness.
We’ll request quotes for the work you want doing and pass the top 3 onto you. Our job is to make sure you get the right builder at the right price whilst guaranteeing top-quality workmanship. Once you’ve found the right contractor for your project, using our 8-stage process, we will to quality check the work at each stage.
If one of our 5 home improvements that add value has inspired you, we can introduce you to an architect or builder to take your project to the next stage. Give us a call on 0800 2465453 or message us online.