Whenever you are looking to renovate your property, an important factor to consider is whether the proposed change will add value to your home if you sell it. There are some renovations that are more profitable if you were to sell your home in the future.
Increase in the value of the home
Making your home more desirable is the key to increasing your home’s value. This could be a cosmetic update or adding more space in the form of extensions and conversions. If you add living space, you can add more to your asking price.
Financing home improvements can be the most important part of the planning process. When you’re thinking long term, you may want to use an equity release calculator to help you release the money stored in your home. This will allow you to budget and plan accordingly.
extensions
An extension is where you add space to an existing structure. Common extensions are adding a conservatory to the back of your house, extending a ground floor room with a single storey extension or doing a full two storey extension to add living space and another bedroom.
The exact value an extension will add varies between property size, location and type of extension, but an extended home can increase in value by 10-12%. Adding double bedrooms and bathrooms tends to add more value. Talk to a real estate expert or architect before you expand to see how this will really benefit you in the long run.
Transformation of rooms
Similar to an extension, a conversion adds living space by changing the purpose of an existing space. Loft conversions are becoming more popular as the existing structure of the room. However, attic conversions depend on the position of the chimneys and the height of the ceiling, among other factors.
Garage conversions are also popular. From additional en-suite bedrooms to a playroom for your kids, there are plenty of ways to use this space if you don’t need it for your car.
Design changes
If you don’t have the budget for a conversion or extension, an interior makeover could refresh your home enough to look fresh and modern.
Kitchens are known as the heart of the home, so it stands to reason that potential buyers consider the kitchen as desirable. You can update your kitchen by creating an attractive splash. Choosing tiles in a complementary color to the rest of the space will help draw attention and look more refined. Speaking of the color of the space, it wouldn’t hurt to add a new coat of paint to brighten it up.
Gardening and landscaping
The difference between a messy yard and a well-designed yard can also affect the value of your home. But there are ways to give it an upgrade without breaking the bank.
Aside from mowing the lawn, adding lighting can help your yard look loved. If you have a path, you can add solar lighting to illuminate the path. If you have a deck, clever fairy lights on a trellis can look lovely.
If you want to embark on a bigger project, add a deck or patio. Homebuyers love being able to imagine using the house as a home, so by adding a patio or deck, visitors can envision long summer nights outside.
