Adding value to your home is one of the best ways to make your property work as an investment.
But adding value isn’t simply a case of having major work done – everything you do to your home should give you a return when you come to sell, or mean added appeal to tenants if you’re renting it out.
Here are 10 things you should consider when looking to add value to your home…
What adds more value to a house?
Some ways you can add value to your home might include:
- Increasing square footage through an extension
- Investing in energy efficiency improvements
- Converting your garage or loft to create more space
- Installing a new kitchen
- Landscaping your garden to create a multi-use space
- Adding a conservatory
- Repairing major issues, such as a damaged roof
Home improvements that add the most value
There are a whole host of home improvements that could add value to your property…
1. A new kitchen
Kitchens are very much the heart of the home and for family buyers a large, multi-functional kitchen space – or lack of one – can often be the difference between making an offer and walking away.
Installing a new kitchen is a good opportunity to reorganise the space you already have or consider an extension to create a fully functional kitchen diner.
However, it’s important not to spend more on your new kitchen than you’re likely to recoup when you come to sell.
If your existing kitchen is in good condition, but a little tired, you might be better off spending a smaller amount of money sprucing it up than ripping it out and starting again.
How much value does a new kitchen add to your home?
The amount of value a new kitchen would add to your property is likely to depend on the quality of the finish and the standard of the units and appliances.
It’s important, also, to only spend a proportionate amount of money on a new kitchen against the overall value of your home.
For example, you’ll be unlikely to recoup £30,000 on a new kitchen if your property is worth £100,000.
2. A useable garden space
A garden space that can be used as much for relaxing as entertaining is often on the wish lists of buyers.
And an overgrown, unkempt garden space is almost certain to put them off, as well as reduce the value of your property.
Think about how potential buyers of your home would want to use your garden space before you consider a full landscaping project.
Would they have children, so require soft lawn for play?
Or would they prefer a larger patio or decking space to entertain family and friends during summer barbecues?
Perhaps they would need both?
How much value will a landscaped garden add to my home?
Landscaping your garden to create a more usable space could increase your property’s value by a huge 77%, according to Post Office Money.
Landscaping can be more cost-effective than major structural improvements to your home, too, with the average garden landscaping project costing £2,750.
3. An extension
Extensions are a great way to add square footage to your property and increase its value.
Kitchen extensions are one of the most popular additions homeowners choose to make, but you could also consider adding bathroom or bedroom space if your property would benefit from it.
A two-storey extension could give you a bigger kitchen and upstairs bedroom and / or bathroom space, meanwhile.
Things to consider before extending
Many extensions can be done under Permitted Development, meaning you won’t require planning permission to do the work.
However, there are limitations to size and height under Permitted Development rights, so it’s always best to check with your local authority before starting any work.
4. A loft or garage conversion
An additional bedroom can add real value to a property when it comes to be sold, while a bedroom with en suite could add even more.
A loft conversion is a great way to create a stunning master suite but bringing in an architect to design the space can sometimes be the best way forward.
Most loft conversions can be done under Permitted Development, but there are certain rules when it comes to terraced or semi-detached properties.
A garage conversion can work equally as well when creating an additional ground floor bedroom or a playroom for the children.
However, you should consider your potential buyer’s needs here – would not having a garage be more of an issue for them?
Loft conversions: Things to consider
Because your loft conversion will be in the roof (unless you opt for a more expensive mansard conversion and extend the roof height), you’ll need to consider things like head room.
You’ll also need to think about windows and natural light, with skylights and dormer windows being the most popular options for loft conversions.
5. More parking
When you look at a property advertised with an estate agent like Ellis & Co, you’ll often see ‘off street parking’ highlighted on the property particulars.
That’s because parking is extremely important – so adding additional parking can be a great way to add value to your home.
It’s estimated around 25 million UK households have two cars, so using garden space at the front of your property for another parking space could help your property stand out from the crowd.
6. Add a conservatory
Like an extension or loft conversion, a conservatory can be a great way to add more living space to your home and increase its value.
A conservatory off a kitchen can also double as a dining room.
However, before opting for a conservatory, you’ll need to consider which way your garden faces and how much of that garden you want to eat into.
A south facing conservatory can be incredibly hot in the summer, while a north facing room may feel very cold in the winter months.
7. A new (or more) bathroom space
For large family homes, an additional bathroom can make a huge difference to a potential buyer – and means they could be willing to pay more for your home.
If you don’t have the space or budget for an additional bathroom, sprucing up your existing family bathroom can help add more appeal when your property goes on the market.
A new white suite and tiling can make a huge difference and if you can do some of the work yourself, you may not need an enormous budget, either.
8. Eco-friendly heating
More and more buyers are becoming eco-conscious when looking for their next home.
So, if yours offers eco-friendly heating, it could mean they’re willing to pay a premium.
Ground and air source heat pumps look set to be the future as the government continues its quest to be carbon net zero by 2050.
However, most UK homes still use gas fired central heating systems, so if you’re willing to pay to have a heat pump installed, your home will certainly stand out from the crowd.
9. Improved windows and insulation
As well as eco-friendly heating systems, boosting your home’s energy efficiency through new windows and insulation can add value in the eyes of buyers.
Not only will doing so make your property better for the environment, but it will also help keep heat in and reduce energy bills – something that is certain to appeal to potential purchasers.
As well as double glazing, you could consider roof or cavity wall insulation.
10. Boost your kerb appeal
If you’re keen to add value to your home, but your budget is too small to take on major work like an extension, simply improving how your property looks from the kerbside can make a big difference.
First impressions really count when your home hits the open market, so you could consider:
- Giving your front door and window frames a fresh coat of paint
- Jet washing driveways and paths, so they look pristine
- Putting new plants or hedging into your front garden
- Washing down render or brickwork and re-pointing