10 pointers on how to increase the value of your home

10 pointers on how to increase the value of your home

1. Extensions

According to Nationwide Building Society, for every 10% extra floor space you add to your home you can increase the value by 5%, whilst adding an extension with a double bedroom and ensuite can boost your home’s value by up to 23%.

Before you start with any quotes, make sure that the extension doesn’t cost you more than you are realistically going to make back when it comes to sell. Take a look at the average prices of similar houses with the extra bedroom in your area

 

2. Loft conversions

Extending upwards with a loft conversion instead of outwards tends to be cheaper (with costs in the range of £15,000 to £40,000) with the benefit of it adding between 10-20% onto the value of your home if you live in London and between 10-15% for the rest of the UK, according to Savills estate agents.

 

3. Selling with planning permission

Selling your home with planning permission for a loft conversion or extension can add a couple of thousands of pounds to the value of your home – for a cost of approx £300!

 

4. Energy efficient Home

By updating your home with energy-efficient products like double-glazing, a modern energy efficient boiler, loft and cavity wall insulation you can increase the value of your home by up to 14% according to the Department of Energy and Climate Change.

And if the property is ‘off grid’, think about switching from oil or LPG to a wood-pellet boiler to heat your home and hot water and receive the Government’s Renewable Heat Incentive payment (RHI) and save around a third on your fuel bill too!

 

5. Update your kitchen

A tired looking kitchen can really put buyers off, but if you don’t want to put a new kitchen in, as they are expensive, then consider giving yours a ‘face lift’ by changing the drawer fronts and having new doors – as an impressive kitchen can add 5-20% to the value of your home according to Savills.

 

6. A new bathroom

Most buyers often just want to move in without having to do any hard work like fitting a new bathroom. If your bathroom just needs a refresh then think about changing the taps or shower fittings – as there some now available on the market that can be retro fitted.

Or if a new suite is required, avoid anything too usual as most buyers would prefer a neutral colour with white being a safe choice. Do this and you could gain an extra 3% in your sale price.

 

7. Extra bathroom

By adding on an ensuite or extra bathroom to a home with more than 2 bedrooms, you can add an extra 6% onto your home’s value according to Nationwide – but only if it doesn’t mean losing a bedroom, as you would never regain the value you lost by reducing  the number of bedrooms in your home.

 

8. Lick of paint

Redecorating your home will not only give it a fresh and clean look, but will also help potential buyers visualise their belongings in your home!

If you use a decorator it can cost as much as £1,000 but could add as much as £3,000 to the value of your home according to HSBC.

 

9. Adding a conservatory

A well built conservatory can add on average £9,420 to the value of your home according to HSBC. But beware, as a badly constructed conservatory which leaks and doesn’t ‘flow’ well from the main house can knock thousands off the value of your home.

 

10. Get gardening

A neat and tidy garden can add upto 20% to the value of your home, according to Homesearch, so give the garden a big tidy up before putting our house on the market.

Also if you’re planning any extensions, think about how much garden you will be left with as buyers may be put off if the house eats into the green space to much.

 

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