Home Improvements That Add Value
Home Improvements That Add Value
Whether you want to add an extra bedroom to your home, extend or renovate your kitchen, install central heating or simply give your home a modern redecoration, home improvements can really transform a property and increase its value at the same time. The infographic below has some interesting statistics on the improvements which add the most value to your home.
Here are just some of the ways you can add up to 15% on to the value of your home…
Loft and Garage Conversions
If you’re in need of some extra space in your home, then you may want to consider a loft conversion. Popular with home owners wishing to add an additional bedroom or office space to their property, loft conversions make excellent use of an otherwise unused space. As well as giving your guests a space to sleep, by converting your loft space, your home could benefit from a potential 12% increase in value.
Converting a garage which is attached to your home could be the perfect option if you’re looking for more space. The garage space could be suitable for various uses from an office to a downstairs bathroom depending on the space available. Carrying a potential cost of £10,000 – £15,000 it isn’t a cheap home improvement but it could add up to 15% onto the value of your home.
Central Heating and Double Glazing
To keep warm during those crisp winter months many of our homes now have central heating and double glazed windows installed. If yours doesn’t then you may want to consider it – not only can it add value to your home and reduce your heating bills but it could also make your home more appealing to perspective buyers and keep you warm on frosty evenings. Installing double glazing could add a potential 5% to the value of your home and only costs between £5,000 and £7,000 to complete.
Kitchen and Bathroom Refit
Are your kitchen cupboard doors hanging off? Is your work surface showing signs of wear and tear? Or could your kitchen simply benefit from a modern refresh? If so then a new kitchen may be on the horizon. With a potential cost of £10,000, renovating your kitchen isn’t always the cheapest home improvement option but it can add up to 5% to the value of your home. Similarly, if your bathroom is due a makeover then the potential added value is 3%.
Build a Conservatory
If you want a room in your home which you can enjoy sitting in during those warm summer months, then consider adding a conservatory. Throw open the patio doors and sit down with a good book, enjoying the warmth from outside and views of your garden and wildlife. Because of their largely glass structure conservatories can be very cold during the winter months so radiators and underfloor heating are something to bear in mind. Potentially costing between £5,000 – £30,000, conservatories can add a potential added value of 7-15%.
There are lots of different home improvement options to choose from which can both enhance your home and add value at the same time. If you’re aged 55 or over and you are a UK homeowner, then you may be eligible for equity release. Carrying out home improvements is one of the most popular reasons why people choose to release equity from their homes. Check out this infographic to see ways you can add value to your home.