Adding value to your home is a goal for everyone, whether you are seeking to move up the property ladder, or just looking to create extra space within your existing house.
It can be a daunting prospect, with the majority of people thinking it will cost a fortune, be far too complicated and take too much time.
Whilst it’s true that some renovations or extensions can be costly and time-consuming, it is undeniable that if done correctly they will add significant value to your home.
Here we are going to look at the most effective ways to add value.
1. Loft Conversion
A loft extension is a great place to start because in most cases it can be done while you are still living in your home.
You will need to seek planning permission and will need to appoint an architect and surveyor to assess the suitability of your property, but, if adding another bedroom, perhaps with an en-suite bathroom then you can expect to see an immediate increase in the value of your home by 15%.
On the cost side, most loft conversions can be done in the region of $25,000 so the value has not only been added in monetary terms, but you have that extra room that your growing family can make use of.
2. Fixing the Exterior
It is a great mystery that people often neglect the exterior of their homes, especially when it is the first reference point for a prospective buyer, or even from a personal pride viewpoint.
Who would want to live in a home that looks scruffy and uncared for even before you cross the threshold?
Experts from HoustonCapitalHomeBuyers.com recommend that the first course of action when trying to sell your home is to spruce up the outside so that you give a powerful first impression to a would-be buyer.
Often all that is required is a lick of paint or tidying up of the garden, and best of all it is a very cost-effective way of adding value to your home, that you can do yourself.
3. Build a Conservatory
Many people like the feeling of being closer to nature and building a conservatory is an ideal way of achieving this.
It will also give you extra living space that can be used all year round.
You will need to be careful before you start because depending on where you live you will need to seek planning permission, and it is also wise to research options such as double glazed windows that help to keep the heat in, or even solar controlled windows if you are feeling adventurous.
Considering the material you will use, wood has a much better finish than PVC but may cost you more, so there is a fine line between the aesthetics of your project and the extra value you are creating.
Always think about what is more likely to entice a prospective buyer.
4. Open Plan Living
Open plan living is in vogue right now and turning your whole ground floor into one large open plan living space can change the whole feel of your property and can create the illusion of extra space if natural light is used advantageously.
You might immediately think that this is such a huge project that you wouldn’t know where to start when actually it can be relatively simple.
Check the walls between your kitchen and living room, if they are not load-bearing then you can simply knock them down and redecorate.
If they are load-bearing then you will need to seek professional advice, but it is definitely not the end of the project due to the huge value that can still be created.
In a worst-case scenario, you could consider a side extension that would also create the effect of extra space and light.
Some people take an open plan living even further and incorporate bi-fold doors that create the effect of walking seamlessly straight into your garden.
This is exactly what buyers are looking for and is incredibly popular right now, so while open plan living isn’t the cheapest way to add value, it will certainly create a stir among potential buyers.
As we have seen there are many ways to add value to your home, some costing more than others.
If you are looking for a quick fix that you can do yourself, then look to the outside and get out the paintbrushes and lawnmower.
If you are more adventurous or are seeking a greater value gain, then loft conversions or extensions are the way forward, with open plan living in such demand at the moment. Happy renovations!