Most of us are careful about what we spend, and want our hard-earned money to go as far as possible. Our homes are usually the most expensive things we own, and most of us will rarely, if ever, sell anything more valuable than our house or flat. It makes perfect sense then that you want to extract as much value as possible when the time comes to move, so read on for some great tips and advice on adding value to your home.
Enhance your kerb appeal
First impressions count for a lot when people come to view your home. You’re selling a dream, a new beginning to prospective buyers, and what adds value to a house, is a buyer believing it’s worth their investment because they can see themselves living there. So paint exterior woodwork and your front door, sort out your front garden with some nice plants and make sure any grass is nicely cut, or even convert your space at the front to a useful driveway.
Improve your garden
Together with any spaces at the front of your home, a nice landscaped garden at the back could add as much as 10% to the value of your home. So if you’ve got it, flaunt it. Mow the lawn, make sure your flower beds are blooming, rake up the leaves, add some decking and get some nice furniture in there too – so your buyers can imagine entertaining guests and relaxing in the garden on a pleasant day. This can certainly reduce the amount of time it takes to sell a house.
Install a new kitchen
Approximately 65% of UK homeowners renovate their kitchen before selling, and while this can involve a simple makeover, going all-out if you have the funds could prove to be very profitable. Side-return kitchen extensions are very popular in terraced and semi-detached houses, with the average cost coming in at around £1,500 per square metre. As it could add 15% to the value of your home, it could be a sound investment, while you may even decide to go for a two-storey extension, adding around 50% more to your single-storey cost.
Build a conservatory
The cost of a conservatory varies significantly depending on how big your plans are, but it could add as much as 10% to your home’s value either way. You may be able to get a relatively simple option for less than £6,000, while a stylish orangery can be upwards of £20,000. This could still prove to be great value though, and adding a greater synergy between your garden and indoor living space is a wonderful way to help with selling your house.
Add a loft conversion
Loft conversions are a hugely popular way to add an extra bedroom to a house, and could boost your home’s value by 15%. You can typically expect to pay £500 to £600 per square metre for a conversion, with an average spend of £20,000 to £25,000. An additional bedroom can open up your home as an option to larger families and many more prospective buyers, while conversions with an en suite are only going to see your house value climb even higher.
Convert your cellar
You can go down as well as up, and like with a loft conversion, doing up your basement doesn’t usually require planning permission. Adding more living or useable space to your home is much cheaper than doing up your attic, with the average UK cost only around £1,200. You may choose to splash out a lot more than that, in which case you may find you’re able to add as much as 30% to your house value, making it one of the best ways to improve the value of your home.
Or your garage
Also possible without the need for planning permission under permitted development rules, converting your garage into living space can be a great idea, especially if you have extra parking space on your drive. With the potential to add up to 15% to your home’s value, the cost of a garage conversion varies depending on whether you have an integral, attached or detached garage. An integral conversion could cost as little as £650 per square metre, while a detached conversion is likely to be in the region of £1,300 to £1,500 per square metre.
Split your house into flats
If you want to know how to increase the value on your home to really maximise your profits, splitting it into flats could be the best way to go. This is a popular thing to do in London where there’s a huge demand for flats to rent, and could add 30% or more to the value of your house. The average cost to do this is between £15,000 to £25,000, although this figure can vary hugely depending on your property, including its location. Even if you’re spending tens of thousands though, this could prove to be an extremely lucrative way of adding value to your home.
Increase storage space
Most of us have busy lives that are filled with lots of necessities and possessions, be it pushchairs, clothes, sports equipment, musical instruments or boxes of childhood keepsakes you can’t bear to throw away. Storage space is one of the things that home buyers really look out for, so take advantage of any dead space, add boards to your loft and put up kitchen cupboards if you have unused space on the wall.
Spruce up indoors
It’s tough to put an exact number on how to improve the value of your home with little touches and easy fixes, but it could be anything between 5% to 10%. Whether you’re redecorating with neutral paint throughout your home, decluttering, fixing dripping taps, upgrading your lighting, carrying out minor repairs or re-grouting bathroom tiles, you could also reopen original fireplaces, sand your floorboards and even make sure there are fresh flowers around your home for viewings.
All these things will improve your potential buyers’ first impression of each room, and make them more likely to increase their bid to see off the competition. Whether you’re adding little touches or going for a big extension or conversion, work out how much you need to spend, allowing you to see whether it’s worth your while in terms of adding value to your home. If you’re after some more advice on the process of selling your home, you can check out our handy guide for lots of great information.
Disclaimer: This article is for informal and general advice regarding the best way to add value to your home.
