Making improvements to your home is not only about enhancing your living experience but also about adding value to the property. Whether you’re thinking of selling soon or simply want to invest for the future, knowing which upgrades and additions can boost your home’s value is crucial.
In this guide, we’ll explore some of the best ways to increase the value of your home and how to work out its current worth.
1. Loft Conversions
One of the most popular ways to add significant value to your home is through a loft conversion. By turning unused attic space into a functional room, you can increase the number of bedrooms or add an office, a home gym, or a guest room. Properties with more bedrooms generally command higher prices, making this a great investment if you have the space available.
A loft conversion can add up to 20% to the value of your home, but it’s important to ensure it’s done properly. Hiring professional builders and ensuring you get the necessary planning permissions are key steps to maximise your return on investment.
2. Kitchen Renovations
The kitchen is often considered the heart of the home, and it’s one of the first areas potential buyers focus on. A modern, well-designed kitchen can add considerable value to your property. You don’t necessarily need a full renovation; simply upgrading appliances, worktops, or cabinets can make a big difference.
For those considering a more substantial overhaul, an open-plan kitchen-diner is highly desirable. Knocking down walls to create a more open, social space can make the home feel larger and more modern, both of which are appealing to buyers.
3. Bathroom Upgrades
Updating your bathroom is another effective way to increase the value of your home. Even small changes like replacing outdated tiles, adding a new shower or bath, or upgrading fixtures can make a big impact. Modernising the bathroom makes the property feel fresh and well-maintained, which is attractive to prospective buyers.
If your home only has one bathroom, adding an extra one (such as an en-suite or a downstairs cloakroom) can be a smart investment. Homes with additional bathrooms tend to sell for higher prices, especially in larger properties where extra facilities are often in demand.
4. Energy-Efficient Improvements
In today’s environmentally-conscious world, energy efficiency is increasingly important to homebuyers. Making eco-friendly improvements can not only save on your utility bills but also make your home more attractive when it comes time to sell.
Upgrading to double or triple-glazed windows, adding insulation to your walls or roof, and installing a modern, energy-efficient boiler are some ways to improve your home’s energy efficiency. Solar panels are another popular option, and while they require an upfront investment, they can add value by lowering energy costs over time.
5. Garden and Outdoor Spaces
Well-maintained outdoor spaces are highly sought after, especially in urban areas where garden space is limited. If your garden is currently underutilised, consider landscaping or adding decking or a patio area to create an attractive and functional outdoor living space.
For smaller gardens, creating a low-maintenance design with neat, tidy borders and artificial grass can make the space more appealing. A well-designed garden can increase your home’s value by up to 10%, as outdoor areas are becoming more valued post-pandemic.
6. Adding a Conservatory or Extension
A conservatory or extension adds extra square footage to your home, which can substantially increase its value. Whether used as an additional lounge, dining room, or playroom, a conservatory brings in more natural light and offers extra living space.
However, the key to making an extension or conservatory worthwhile is ensuring it complements the style of your existing home. Poorly designed extensions can detract from your property’s overall appeal, so professional input and good planning are essential to make this addition a valuable one.
7. Off-Street Parking
If you live in an area where parking is limited, adding off-street parking or a driveway can increase your home’s value significantly. Buyers are often willing to pay more for the convenience and security of having a private parking space.
This is especially important in city areas where on-street parking is difficult. Before adding a driveway, check with your local council regarding planning permissions and regulations, as some areas have restrictions on adding or expanding driveways.
8. Smart Home Technology
Adding smart home technology can appeal to modern buyers and increase your property’s value. These features include smart thermostats, lighting systems, and security cameras, all of which can be controlled remotely via smartphone apps.
While these gadgets may not drastically increase the value of your home on their own, they are increasingly becoming expected in modern properties and can set your home apart from others on the market. These upgrades are especially attractive to younger buyers and tech-savvy professionals.
How to Work Out the Value of Your Home
Before looking at any home improvement project, it’s a good idea to know the current value of your home. This will give you a better understanding of how much value the improvements could add.
There are several ways to work out the value of your property:
1. Online Valuation Tools
Several websites, such as Zoopla and Rightmove, offer free online valuation tools. These tools use data from recent sales in your area to provide an estimate of your home’s value. While these can give you a rough idea, they are not always accurate, as they may not account for unique features or upgrades in your property.
2. Estate Agent Valuations
For a more accurate valuation, invite a local estate agent to assess your property. They’ll consider the condition of your home, recent improvements, and the current market conditions to provide a more reliable estimate.
3. Professional Surveyor
For the most precise valuation, hiring a professional surveyor is the best option. A surveyor will thoroughly inspect your property, looking at factors such as structural integrity, the condition of key features like the roof and plumbing, and any extensions or conversions that have been made. Their report will give you a detailed valuation based on all aspects of your home.
In Ending
Adding value to your home involves making strategic improvements that appeal to future buyers while enhancing your life at home. Loft conversions, kitchen and bathroom upgrades, energy-efficient improvements, and even smart home technology are all effective ways to increase your home’s worth. Before making any changes, it’s important to work out the current value of your property so you can make informed decisions and maximise your investment.
