Five Fittings That Will Add Value to Your Property
Whether you’re selling up or staying put, it is important to be aware of factors that will increase and decrease the value of your property. The renovation process involves careful financial planning to ensure that the return on investment will push up your property’s price, while avoiding the risk of half finished projects and poor workmanship.
Here, we take a look at some of the best ways to add value to your property with minimal risk to your pocket.
Extension
With prices ranges from around £10,000 upwards, it is estimated that a house extension can add up to 25% to the value of your home . But before you embark on this costly venture, find out how much extended properties in your area have sold for in the past to give you an idea of how much you should invest. As soon as work begins, make sure you inform your buildings and contents insurance provider. This will help financially protect you should any damage occur during building work.
Loft Conversion
With the potential for an increase of £45,000 to the value of your property , a loft conversion is often considered one of the most economical ways to add space to a house. As with all major developments to your home, it is advised that you seek professional advice from an expert; in this case, a chartered surveyor. Be warned that a poor quality conversion can actually lower the value of your property.
Kitchen refurbishment
A new kitchen is believed to add an average of £5617 to the value of your property and, as the kitchen is often at the heart of a home, it can be very important to potential buyers. It might not be necessary to spend a fortune on completely refurbishing your kitchen; often you can get a similar affect by updating counter tops and cupboard doors for a fraction of the price.
Bathroom refurbishment
A clean, modern bathroom is often guaranteed to add considerable value to a property, with experts predicting as much as a £25,000 increase . If your bathroom fittings don’t need updating, it is suggested that you invest in re-tiling your bathroom and give it a fresh lick of paint to instantly and affordably freshen up the room.
Update the exterior
As this is the first thing any potential buyers will see, the condition of the exterior of your property bears considerable importance. Installing new windows and doors, as well as general maintenance and landscaping can all help to boost the worth of your home. However, to add significant value, consider losing a little of your garden to accommodate space for off-road parking. While a smaller garden may put some buyers off, others are willing to pay extra for this facility.
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