How to Add Value to Your Home
If you are thinking of selling your home or even just researching ideas for a newbuild property, doing your homework when it comes to increasing property value is the fundamental first step. When most people consider ways to add value to their home, large scale extension and conversion projects often come to mind. Although these can be great ways to boost profit and increase interest, these aren’t the only options you have.
Before we delve into the various ways you can add value, let’s talk through the things you need to consider first.
Cost vs Value
Before making any sort of change to your home for the sole purpose of adding market value, it is important to fully consider and calculate how much these changes will set you back vs how much value they will actually add to the home. There are a variety of factors that will affect this including the area you live in as well as the value and supply of homes available.
Let’s take a look at an example. Say you are living in a three bedroomed property currently valued at £300,000 and you are considering adding a kitchen extension which would cost you in total around £15,000. If when looking into the ‘ceiling price’ of other three bedroomed houses in your area, you find that the average price is £310,000, adding the kitchen extension won’t bring you any extra value and may end up leaving you at a loss.
A good way of combating this is to gain planning permission for a potential extension without going through with construction. When viewing your home, many buyers may be considering ways they can add space to the property through extensions and conversions themselves. By already acquiring planning permission, this will encourage buyers further by removing a whole lot of hassle and avoiding stressful questioning and queries.
Target market is a key element to think about when discussing property value. For example, a three or four bedroomed house is likely to attract families, whereas a one or two bedroom property may be more popular amongst a younger market such as first time buyers or professional couples. A bungalow or ground floor apartment is often more appealing to an older age bracket, although this is not always the case.
Accommodating your target market when making changes to your property will allow you to enhance specific interest, however, it is also important to not restrict your home to these certain audiences. Remember, the larger the span of buyers you can appeal to, the higher the chances of a sale.
So, how exactly can you add market value to your property? Let’s discuss some of the options you have.
Decluttering & Decorating
One of the easiest and cheapest yet most effective ways of boosting your property’s appeal is to remove the clutter and redecorate your space. In fact, by simply decorating you could add an extra 3% value to your property.
Mess and chaos will instantly dampen the interest of any potential buyer. A clean and tidy home not only shows that the property is well taken care of, but it also allows you to really show off the space, giving a more open and inviting feel to each room. Don’t overfill the rooms with mis-matched furniture and ornaments, let the buyer really see the ins and outs of the space.
Although some buyers won’t be phased by the idea of a redecorating project, many prefer the ease of just moving in with the property already done up. If you do choose to decorate, make sure you stick to neutral tones such as whites, creams, and shades of magnolia. Although these colours may seem boring, they can actually help to make your space seem bigger plus are less likely to clash with someone else’s personal taste. Even if the buyer is a fan of more eye-catching colours, white is far easier to paint over than navy blue!
Fixing Structural Issues
Buyers want to feel that the property they are purchasing is as secure and structurally safe as possible. Nobody wants to move into a new home and be faced with dangerous defects and structural issues, especially families with children.
Give your property a thorough inspection or call in a professional to have a look if needed. Problems you may find include missing or broken roof tiles, rising damp, cracks in walls or ceilings, rotten joists or roof timbers, sagging/leaky roofs, collapsed or broken floor tiles, insect, or wildlife infestations etc.
Fixing Superficial Problems
Although less hazardous than structural issues, superficial defects around the home can be a huge put off to buyers looking around. If you are redecorating, use this an opportunity to give your space a thorough inspection looking for problems such as peeling paint/wallpaper, squeaky floors, doors, or stairs, dripping taps, broken lightbulbs, limescale build-up, mouldy sealant, faulty light switches etc.
Lighting up the Space
A room filled with natural light will always be more attractive than one that is dark, dull, and gloomy. Daylight instantly opens up a room and can have fantastic physical and mental health benefits. There are a few practical ways you can introduce more natural light into a space including:
Sun tunnels can be installed in even the most awkward of spaces. They are perfect for adding natural light to narrower hallways and awkwardly angled rooms where a roof window often isn’t suitable.
Sun tunnels can be installed on both flat and pitched roofs. The front of the sun tunnel sits on the outside of the roof to bring in light through the highly reflective tunnel and diffuser.
They are available in a range of lengths and sizes with rigid and flexible designs available. The flexible design is ideal if the tubing needs positioning at an angle or bend whilst the rigid tubing will deliver more light. If you’re not sure what type of sun tunnel is suitable for your project have a look at this helpful guide.
Roof lanterns are not only fantastic for adding high levels of natural into your room, but they also bring the added wow factor that just might catch the attention of a buyer. Roof lanterns are often added above a kitchen or dining table, converting the room into a standout, memorable space and instantly adding saleability and value to your home.
With a multitude of different types available, roof windows are a hugely popular and effortlessly stylish option for enhancing natural light flow whilst drawing the eye of the buyer. Adding just a few rooflights throughout your home can instantly transform the entire feel of the property. You can even incorporate a balcony window to really upgrade and modernise a room.
One of the first things your buyer will notice when stepping into a house is the temperature of the space. If all the buyer can think about when walking around is how chilly and uncomfortable they feel temperature wise, then this may deter their interest.
Make sure your heating system is working as smoothly and efficiently as possible. Many older houses have old fashioned systems or in some cases, have no central heating at all. Adding or upgrading is the perfect way of increasing value and presenting your property as a comfortable and liveable environment.
As a society, we are now more focused on energy efficiency and environmental impact than ever. Many buyers are looking to create a more eco-conscious home, whilst bringing down costs of utility and energy bills.
Thankfully, an easy way of improving efficiency, enhancing savings and creating a more comfortable home is by adding insulation. There are a multitude of types available, installable in a various parts of the home. Natural insulators such as hemp and sheep’s wool are also becoming a popular option thanks to their sustainability and lower environmental impact.
It’s even possible to add new insulation on top of old insulation in the roof space to improve the performance of existing materials. If you do choose to add insulation, it is essential to make sure that your home is well ventilated.
Adding Kerb Appeal
The initial first impression a buyer will get of your property is how it looks from the outside. Carrying out a few simple tasks such as tidying your front garden, planting new flowers and giving your front door a fresh coat of paint can instantly boost the saleability of your home.
Adding a porch cover or carport is another fantastic way of adding appeal. Thankfully, this kind of project can be easily carried out by any seasoned DIYer with the right tools and materials. We have created handy guides on how to build your very own carport or porch linked here to get you started.
Simple Garden Ideas
Whether your potential buyer is an avid gardening enthusiast or just uses their outdoor space to relax and unwind, making sure your garden is in top condition will make a real difference to overall appeal of your property. The right garden can add anywhere between 5-20% value. Think about ways to not only improve the visual appeal of your garden but also enhance functionality and comfort.
For example, adding a cover over a patio is a great way of maximising garden usability in all kinds of weather. Creating a lean to or decking area with garden furniture, provides a relaxing place to host dinner parties or just enjoy family time in the summer months. Firepits and outdoor fireplaces have also been really popular in recent years.
Don’t forget the simple tasks too like planting/tending to flowers, trimming back overgrown foliage, retreating decking and cutting the grass. Although results do differ from garden to garden, UK averages estimate that good landscaping can add around 3% value to your property.
If you’re lucky enough to have outbuildings in your garden, make sure that you use them to their full effect. When considering your target market, think about potential rooms that your main property could be lacking. This could be a home office, a playroom for the kids, a spare bedroom for guests, a workshop or simply extra space for relaxing away from hustle and bustle of family life.
Depending on its structure you can either replace or update the building you already have to create the room that you want.
Building a Conservatory
Conservatories are often easier and cheaper to construct than a conventional extension but still have the potential to add fantastic value to your property. Based on UK averages, you could be adding up to 9% extra value onto your property by fitting a conservatory.
In most circumstances you will not need to gain planning permission to add a conservatory as it usually comes under permitted development rights, although it is essential to double check this with your Local Planning Apartment before you begin any plans.
Insulating a Conservatory
To really optimise the value and appeal of a conservatory, you want to ensure that is a comfortable space to relax in all year round. One of the quickest and easiest ways to do this is making sure the structure is properly insulated.
Uninsulated conservatories are often only usable in the summer months, and even then, can be uncomfortable due to high levels of glare and heat. Changing the roofing material for a tiled structure rather than glass can make a tremendous difference. Take a look at our handy guide here for more information on all the options that you have when insulating a conservatory.
Often to improve and maximise space for your property, it is not necessary to add extensions. In many cases, altering your home’s layout and remodelling the existing rooms can be a great way of increasing value and interest.
For example, if your living room, kitchen, and dining room areas are all pretty cramped, taking down the walls in between these and creating a completely open plan downstairs can instantly modernise your property and give the impression of a much larger home.
If one of the bedrooms is very large and open, you could even utilise this extra space to add an en-suite, dressing room area or walk in wardrobe.
As one of the most fundamental rooms in the home, the kitchen is often the focal point for potential buyers viewing a property. Though the kitchen space is traditionally used for cooking, it is now commonly utilised as a space for eating, socialising, relaxing and even working from home. Redesigning your kitchen to better accommodate this is a great way of increasing buyer interest. It is estimated that a brand-new kitchen could enhance the value of your home by around 6%.
A few stylish ways to modernise and update your kitchen space include upgrading larger appliances, swapping out flooring, introducing modern technologies, building an island or breakfast bar, and updating dated cabinets, cupboards, and worktops.
Changes don’t have to be so large scale, minor alterations such as changing taps, moving or upgrading furniture, swapping cabinet doors and handles, introducing house plants, and changing the lighting make a difference too.
Bathrooms need the perfect balance of style, luxury, and practicality to appeal in the best light to the buyer. If your bathrooms are looking a little basic or run-down, giving the space an upgrade will instantly add interest and value to your home. It is estimated that renovating your bathroom space could add around 4% extra value to your home.
In the modern household, having at least one shower is usually a must for most homeowners. If your bathroom already has a bath, you can simply purchase the necessary components to transform yours into a multifunctional shower and bath.
Other ways you can make your bathroom more attractive to buyers include adding mirrors, introducing more light, replacing sanity ware, replacing flooring/tiles, upgrading the plumbing system, and even considering underfloor heating.
Adding a Garden Building
In recent times, the need for extra space has become a fundamental issue in many households across the country. This is where a garden building provides the perfect solution.
Many homeowners are now hugely appealed to the idea of having additional room space away from the main house to transform into an office, gym, chill out space, playroom or even a home pub! When considering your property, a garden building could be a huge selling point, as most people are now planning ahead to ensure they have enough space if working, exercising, or relaxing at home is the only option they have in the future. On average, garden buildings can add around 5% additional value to a property.
Replacing Window Glazing
If your windows are only single glazed, making the switch to double glazing will have a dramatic effect on your heating bills and the overall comfort of your home. This may seem like a relatively minor change, but it’s actually one of the first things that many potential buyers will notice and ask about when they view a property. In fact, research suggests that double glazing can add as much as 10% extra value to your property!
Back in 2014, statistics showed that converting your loft space to a bedroom and en-suite could add as much as 20% to the value of your home. Having enough space is a fundamental issue that many homeowners worry about, especially large or growing families. However, in a family home many don’t want to sacrifice the outdoor space they have to build out with an extension or garden building. This is why building upwards instead can be a more practical and appealing idea.
If you are thinking of selling your property and considering whether a loft conversion is the right choice to add value to your home, it’s a good idea to look into the availability of houses with the same number of bedrooms in your area first. If you’re struggling to gain interest and have found that there is a shortage of homes with more than one or two bedrooms in the area, then adding extra space could be just the appeal you need to catch the eye of potential buyers.
Take a look at our helpful articles on ‘How Much Does a Loft Conversion Cost?’ and ‘How Much Value Does a Loft Conversion Add?’ to help you weigh up whether the overall cost of converting your loft space would leave you with increased value or at a loss.
Green Roof Construction
If you’re creating a new extension or re-roofing a garden building, a wonderfully easy way to enhance biodiversity whilst providing insulation, sound reduction and rainwater run off control is by installing a green roof.
Green roofs are becoming increasingly popular especially in built-up, urban areas thanks to their remarkable ability to completely change the feeling of an environment. Not only do they offer fantastic environmental benefits, but the greenery has also been known to improve mood, increase social interaction, reduce vandalism and encourage healing. All of these benefits combined will be sure to add interest and appeal to your property.
From constructing full-scale extensions to simply applying a lick of paint, there are a multitude of different ways that the modern homeowner can improve the value of their home. Even if you aren’t moving anytime in the near future, utilising these upgrades can simply help to make your house feel more like your home.
If this article has inspired you to give any of these home improvement projects a go, why not take a browse through our extensive product ranges for the materials and products you need to get started.
For any other questions or queries, don’t hesitate to get in touch with our friendly customer service team who will be more than happy to help. Simply give them a call on 01295 565565, email [email protected], or leave a message in our handy live chat.