Refining your property not only improves your quality of living but it goes a long way to increasing your market value. With a spruce-up, your home will almost certainly become more attractive to prospective buyers.
Home improvements such as loft conversions and energy-efficient extensions will pay for themselves in the long run so you could reap some high rewards if you have the time and money.
Finances
The reality is that while home improvements can significantly add value, they can quickly become more expensive and it can raise questions about whether you will actually make a profit when the time comes to sell. You need to keep a very close eye on your finances and make realistic budgets to make sure you aren’t taking on more than you can handle.
Think about how you are going to fund projects. You might have the funds available or need to take out a bad credit loan if your credit history isn’t the best. Forecasting the value of your property after renovations are complete will help you determine whether the work is worth it and help you stay within your profit margins.
Extensions
House extensions are the perfect way to add living space to your home and boost your property market value. This can include kitchen expansions, full two-storey extensions and adding a double bedroom. Discussing your plans with local property experts or architects can help you get an accurate picture of how much the design of your extension will add.
An average 3-bedroom home with an extension that adds an ensuite and creates a double bedroom can add up to 10-12% to your property value. Converting your garage or loft is another option worth considering, as it can not only make your home more energy efficient, but the extra space makes the property more attractive to prospective buyers.
Décor
First impressions always count so making your home seem more luxurious and expensive could make house hunters more inclined to higher their asking price for the property. It helps visitors imagine your home as their own and visualise how they can adapt it to fit their needs.
Simple touches such as quality rugs and sofas go a long way to increasing your property’s luxury factor. You should also turn your attention to your fixtures to modernise your space. Enhance the atmosphere of your rooms with luxury light fittings and built-in storage units.
Energy efficiency
Buyers are typically more willing to pay more for a property that is energy efficient as they can see how it will save them money in the long run. Not only that, but these improvements will help you make some savings while still living there. Insulation in your loft and walls is very attractive to prospective buyers since a quarter of heat is lost through the roof of an uninsulated home.
Less dramatic renovations such as upgrading your doors and replacing your boiler could also maximise the return on your property. Replace your doors with double glazing or sold materials to reduce energy consumption and eliminate any draughts.
