Five home improvements worth investing in to increase property value

While property prices in the UK have almost trebled since the century began, the housing market is set to witness a decline in price growth over the coming months[1].

As the cost-of-living crisis is imminent, it is predicted the market will drop to 1% annual growth in 2023 from 11% in March earlier this year[2].

However, the state of the property market remains uncertain, therefore while some prospective homebuyers might be waiting for house prices to fall to enter the market at a lower rate, there is no guarantee they will fall; it is also worth noting that mortgages may begin to increase as the effects of the living crisis is felt and as banks make it tougher for homebuyers to qualify for them[3].  

John Evans, managing director at Stormclad, said: “With the uncertainty of the property market rife, first-time buyers may find themselves questioning whether now is a sensible time to climb onto the property ladder – and rightly so, there are lots of things to consider. When to enter the house market is one thing, but so is the decision whether to opt for a home that requires an investment in home improvements and some TLC, or one that ticks all the boxes straight away.

“Many first-time buyers, when on the hunt for their first home, typically desire something of a ‘dream’, but at a time when things are so uncertain and it’s becoming harder to part ways with our cash, it may be worth buyers saving some of their budget and considering a property which could be improved over time with small, or large, home improvements.

“That way, buyers can design their new home how they wish and in their own time and two, they could see themselves making more than what they initially paid for when they eventually come to sell and the market has improved.”

So, what are some home improvement ideas to consider when buying a house with the view to renovate?

  1. Double/triple glazed windows

Double and triple glazed windows significantly increase your home’s value by heightening security as the windows are sealed tighter and harder to break in comparison to other materials.

Upgrading your windows to a double or triple glazed material will also help to reduce energy bills by effectively limiting the amount of cold entering your property, while keeping the warmth in, keeping temperatures moderated.

  1. Energy-efficient features

Alongside protecting the property from rising electricity prices, homeowners can expect to earn a greater return on investment by utilising features such as solar panels, LED lights, controlled ventilation or heating and cooling systems.

With over 73% of individuals admitting they worry about the energy performance of their current home, there has been a sharp increase recorded in those seeking a property with energy-saving attributes.[4]

Homebuyers may also find themselves attracted to an energy efficient property as they provide protection against any future turbulence in the energy market.[5]

  1. Add kerb appeal

From upgrading the front door to adding outdoor lighting, adding kerb appeal to your property can drastically increase its value and attractiveness.

While these improvements tend to be smaller, they are typically the first aspects individuals are faced with when visiting a property. Therefore, it is essential to create a positive first impression as it helps set the tone for the rest of the viewing.

  1. Refurbish the conservatory

While a conservatory is a cost-effective extension that instantly adds value to your home, issues such as roof leaking, damp and uncontrollable temperatures are all factors with potential to decrease its overall value.

By refurbishing the space, it provides a great way to utilise old components or rebuild a new structure entirely.

Consider transforming the space into a serene location or alternatively an environment suited to working from home. This way, you are able to demonstrate to prospective buyers how the space can be maximised to its full potential.

  1. Update the kitchen

While a kitchen refit can add up to 5% on top of the original house sale price[6], renovating the kitchen entirely is an extremely large project involving a huge level of commitment and work.

Therefore, if homeowners are looking to give their kitchen a new lease of life without breaking the bank, there are alternative ways to transform the space.

Painting cupboards, changing drawer handles, adding under-floor heating and smart features can freshen up the focal point of the home, allowing it to feel modern and inviting.