If it’s a question of ‘Love it or List it’, whatever your long-term plan is, a few home improvements can make your home feel fresh and new.
As well as making your home a happier, more comfortable place to spend time, they can also add value to your home if and when the time comes to sell. But which home improvements will add the most value?
Loft extension
Converting a loft can provide significant extra living space, perhaps for an extra bedroom or home office.
According to the HomeOwners Alliance (HOA), a loft conversion can also add up to 20% to the value of a property[1].
However, converting your loft can be a major job that can be complicated - requiring Building Regulations sign off - and the HOA warns that if you invest too much and extend too far you’re unlikely to see a return on your investment.
So, make sure you’ve done your sums before embarking on any work.
New kitchen
A new kitchen is the most common improvement carried out by homeowners[2].
If you’re a keen cook and are happy spending lots of time in the kitchen, then it can be well worth upgrading the room. It can make financial sense too, according to research by Post Office Money, which showed that for an outlay of £7,500, a new kitchen can add as much as 26% on to the value of your property[3].
Having a new kitchen fitted is a big job, but there are ways of doing it without breaking the bank.
Bi-fold doors
Bi-fold doors are a great way to let more light into your home and create an open-plan feel, without taking up too much space.
According to Zoopla, putting in bi-fold doors can yield a 56% profit in terms of the impact on a home’s value compared with the cost of the work[4].
Energy efficiency measures
There are many ways to make your home more energy efficient. Not only can they help you create a cosier home, cut your energy bills and reduce your carbon footprint[5], but you’ll also potentially add value to your property.
Even simple changes such as insulation and fitting energy efficient light bulbs can make a big difference.
The end-result of better energy efficiency could be an improvement in your home’s Energy Performance Certificate (EPC), the report that assesses the energy efficiency of a property.
Based on average property prices in England, raising the rating on your home’s EPC from the lowest G rating to the highest A rating can increase property value by as much as 14%[6].
Garage conversion
Garages can quickly turn into storage rooms, full of odds and ends and can get a tad neglected. But converting your garage into a proper living space could add up to 15% to the value of your home[7].
Not everyone can convert their garage, and you’ll need to check that your garage is suitable for conversion and whether you need planning permission first.
Alternatively, if you can’t convert your garage, why not use your garage for what it was originally intended for? A garage really is ideal for keeping your car safe and protected while it’s not in use and if parking spaces are tricky to find where you live, then this is a major consideration too.
Landscape your garden
Home improvements needn’t just take place inside your home. Could your garden do with some love too? It could pay off: landscaping your garden could increase your property value by 77%, according to research from Post Office Money[8].
The research found that you’d need to spend around £2,750 on garden landscaping to get that big return. But if that’s too much for you, you could take smaller steps towards creating a more appealing garden, such as planting new flower beds or adding a decking or patio.
Before you embark on making any extensive house alterations, please remember to check the terms of your home insurance as you may need to inform your insurer before any works commence so that they can assess the risk.
Consider your unique situation
The value of making improvements to homes vary according to each person’s unique circumstances, and what a buyer is willing to pay for your home in the future. Property experts, Kirstie Allsopp and Phil Spencer [9] advise it’s best to check the ‘ceiling value’ of your property before you start and of course, it’s important to consider the impact on your lifestyle, not just your wallet, when making home improvements.
For tips on how to stay happy and safe in your home, go to Solved.
[1] https://hoa.org.uk/advice/guides-for-homeowners/i-am-improving/loft-conversion-where-do-i-start/
[2] https://www.which.co.uk/news/2017/07/top-10-most-common-home-improvements/
[3] https://www.postoffice.co.uk/mortgages/how-to-add-value-to-your-property
[4] https://www.zoopla.co.uk/discover/featured-homes/home-improvements-and-renovations-that-have-the-biggest-impact-on-your-property-price/
[5] https://energysavingtrust.org.uk/hub/quick-tips-to-save-energy/
[6] https://www.moneysupermarket.com/gas-and-electricity/value-of-efficiency/
[7] https://www.propertypriceadvice.co.uk/home-improvements/ten-of-the-best-ways-to-add-value-to-your-home
[8] https://www.postoffice.co.uk/mortgages/how-to-add-value-to-your-property
9 https://www.channel4.com/programmes/kirstie-and-phils-love-it-or-list-it
