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Ways to add value to your home

How home improvements could help you increase the value of your home

Your house is most likely the biggest investment you’ll ever make. While first and foremost your property is a home for you and your family it’s also important to look after its value. These home improvement ideas can make your home a better place for you to live in and increase its worth, should you ever decide that it’s time to move on. Ideas as simple as picking up a paintbrush to calling in a builder can all help you maximise the value of your property.

In the kitchen

Kitchens have become the centrepiece of our homes. As well as cooking there we eat in them, we socialise in them, we work and study in them. When moving into a new home one of the first areas people look to personalise is the kitchen. If your kitchen is smart and appealing, they won’t have to budget to change it right away and your property will be more desirable.

Replacing your entire kitchen suite can be costly, the average spend in the UK is £8,000, but it may not be necessary to undergo a full kitchen remodel. Just replacing the counter tops and the flooring can give your kitchen a brand new feel at a fraction of the cost.

You know your kitchen best: what don’t you like about it? If there’s a lack of counter space could you add an island? If you lack cupboard space do you have room for even one new cabinet? If it isn’t bright enough could you add more lighting? Make the room how you’d want it in a perfect world and it will probably appeal to others too.

Bathroom

Everyone spends time in their bathroom. Whether you’re an hour long soak in the tub type or a two minute shower person, making your bathroom more pleasant can be a great way to add value to your home.

A new bathroom suite can cost between £2500 and £6500, so it pays to shop around. Get a few quotes and check reviews of local tradesmen so you can be confident you’ll be happy with their work.

If you don’t want the expense and upheaval of a full remodel, small changes can help:

  • Just changing your taps can give the appearance of a new bathroom
  • Nobody likes a shower curtain, replace it with a screen door
  • Heated towel rails can cost as little as £30 but give a real feeling of luxury

Do you have enough bathrooms? If you live in a four-bedroom house with only one then you probably don’t. Adding an en-suite or second bathroom elsewhere could cost anywhere between £4,000 and £20,000 but it may add 10% to the value of your home.

Redecorating

Even just sprucing up can add value to your home. Most new buyers don’t want to come into a tired house where they’ll have to decorate every room straight away. If yours is smart and ready to live in it can be a real selling point.

When choosing colour schemes look for ones which give a feeling of space and light. Cool, light colours can make a small room feel open and airy. Don’t forget doors, ceilings and surrounds. There’s not much point having gorgeous walls next to yellowing skirting boards.

Carpets inevitably get stained and worn particularly in areas like the hallways, stairs and living room. Replacing them needn’t be expensive and can give a home a real brand new feel. Remember to allow for fitting costs on top of the price of your carpet. For a medium 5m by 4m room, this will be around £90. Doing away with carpets all together and replace with laminate or wood flooring can give your home a contemporary, minimalist feel.

If you’re decorating to add value to your home in the event of selling it pays to go for neutral colours and minimalist design. You may have always wanted a lime green bathroom suite with golden walls but it’s unlikely anyone else has. They’ll see your dream room as somewhere they’ll have to spend money. Stick to subtle colour schemes that appeal to everyone.

Don’t forget the garden. The front garden is the first thing people see when they come to your home, if it’s tatty and overgrown it creates a poor first impression. A garden redesign might cost around £4,000 but it is likely to add the same in value to your home.

Home extensions

It makes sense that the more rooms you have the higher the value of your home. What’s lacking in your house? Look at what you already have and decide what you need. An extra bedroom or sitting room, a dining room?

A recent survey showed that a conservatory was the most efficient way to add money to your home, claiming that if you spend £5,300 on one, you’ll instantly add £5,750 to the value of your house. If you have outside space which gets a lot of sun it could be an ideal investment.

Make sure you check what planning permissions are required for an extension before building. Also make sure that you have enough cash available to complete the project, leaving something half-finished will be more likely to harm the value of your home.

Conversions

If you’ve unused space in your home converting it for another use can not only benefit you in terms of space and usefulness but also add value to your home.

Loft conversions can be the easiest way to add an extra bedroom or bathroom and offer a great return on investment. Surveys vary but converting your loft may add between 12.5% and 20% to the value of your home. In most areas they do not require any planning permission.

An unused garage could make great extra living space. 90% of UK garages don’t contain a car. A garage conversion may cost around £10,000. Remember that losing your garage may make your car insurance more expensive.

Knocking down walls can add value. Most buyers are interested in the amount of usable space rather than the number of rooms. Walls can be load bearing, so always use a reputable builder.

Enjoy your home

Don’t leave the improvements until you are ready to sell your home, do it while you can enjoy the improvements you make. Choose projects that will make your life better. A good home improvement is one which adds to the value of your home and makes it more enjoyable for you to live in.


This article is intended as general advice only which is not intended to cover specific circumstances and needs. The information in this article is also not linked to any of the products offered by Clydesdale Bank PLC.


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