Renovation Projects: How to Increase the Value of Your Home
Has the time come to move home? The prospect of falling UK house prices in the months ahead is less than ideal for anyone putting their property on the market. But it won’t necessarily mean you can’t still achieve a reasonable offer. And a renovation project can be a really effective way to wow potential buyers. The question is – what type of project and how big does it need to be?
Make simple improvements
Well, the term ‘renovation’ might conjure up thoughts of huge, ambitious projects that radically alter your home. But it needn’t be like that. Some of the most effective projects can be as quick and as simple as a few small improvements. If you have paint peeling off a wall, for example, a fresh coat can go a long way. So too can replacing mouldy sealant in the bathroom.
It can be such a good idea to start small when looking add value to your home. From there, you can scale up to bigger projects if you want. But don’t feel it should be your starting point.
Improve your home’s flooring
Now we do start to move into some of the bigger projects that you could take on. And first, let’s take a look at your floors. A tired old carpet can be a real off-putter, and take the shine off your home. You don’t necessarily have to replace it – a new owner may have their own ideas. But it’s worth considering a hardwood floor as a more appealing option.
It looks good from a style perspective first and foremost. But it also means a new owner has an option to keep it or cover it with a new carpet. So, it’s one to think about for sure.
Spruce up the kitchen
The kitchen is one of the most important rooms in the house. A tired looking one can have such a drain on the pulling power of your home. The good news, however, is you don’t need to do an awful lot to give it a fresh look. A new coat of paint, upgraded cupboard doors and handles, and clever storage solutions can do a lot to brighten up a kitchen and keep it free of clutter.
Of course, you also have the option of getting the kitchen completely overhauled. While it might add value, it can sometimes also put off potential buyers if the upgrade isn’t to their tastes.
Add kerb appeal to the garden
The first thing a potential buyer sees when they come to view your home? Your garden. And, as they say, first impressions count for a lot. Often known as “kerb appeal”, the garden can set the scene for the viewing experience. Not only that, but great outdoor space can help increase what your home is worth because it’s a feature that many people look for in a new property.
To upgrade your garden, there are many things you can do. You could create a smart decking area or put down some modern paving slabs to really show off your garden in its best light.
Go bigger and bolder
For some homeowners, one approach to increasing the value of their property is to carry out a huge renovation project. It’s a delicate balance – because you need to make sure that increase will make up for how much you’ll spend on it in the first place. Yet, the result can be rewarding and spectacular too.
A loft conversion is one of the most popular options. It creates a new room, which in itself is a valuable thing to do. In some cases, it can increase a property’s value by up to 15%.
Much of the time, the renovation projects that you choose to undertake in order to drive up the value of your home are guided by several essential factors. How much time do you have? What is your budget? Will those projects up the value of your home by enough to make it worthwhile? Thankfully, you don’t always go big – and sometimes it’s the small touches that get results too.