Not even the country’s top-notch economists can be certain of what your home will be worth in the next five to ten years. However, we know that some changes made to your home will improve its relative value more than others.
Try these top 10 for size:
Loft conversion
Increasing your living space with a loft conversion is an easy way to add another bedroom, bathroom, or both. You’ll need to reinforce the floor joists which will raise the floor level so make sure you factor this into your standing room.
Adding a conservatory
No longer a glass ‘bolt-on’ to the house that you shut the door on in the winter. A good modern conservatory will add natural, usable and valuable square footage to your home. Basement conversion could also be an option depending on your house and the area. However, they are very expensive and alter the structural load of the building so will need careful thought and planning.
Create living space from the garage
90% of garages in Britain don’t even house a car. If yours is among them, it might pay to turn it into a living space instead.
Fitting a new kitchen
If your budget stretches to just one refit in the home, the kitchen is probably the best bet. Keep it neutral and practical in design. Make sure that the cost of the work is relative to the current value of your property.
Neither a £50K kitchen in a £200K home or an £8k kitchen in a £1m property makes financial sense.
Replace windows
Putting in new windows can make a house instantly smarter, warmer and quieter. But it goes without saying that the replacements should be in keeping with the age and style of the property. You will also need to find out if you need planning permission for any improvements prior to making changes. You can check on the Government website.
Update the bathroom
After the kitchen, focus on the bathroom or bathrooms. However, it’s not worth stretching your budget here as you can make a big difference by just updating details such as the taps, shower screen, cupboards and towel rails.
Make the most of the garden
Installing bi-folding doors along a back wall not only makes for a brighter living room or kitchen, but it can really bring the garden into the house. You should have outdoor lights to ensure this at night and in winter. Be aware of the ceiling price. Always keep your home improvements within the parameters of property values in your street. For example, if average values are £250k, you’re unlikely to achieve £400k with even a top-notch extension or sold gold taps in the bathroom.
Create a driveway
If you live in a city or busy location where parking comes at a premium, swapping your front lawn for a driveway can be a savvy and practical move.
Spruce up the garden
This might mean anything from painting the house to replacing the front door to cleaning windows and unblocking drains to pulling up weeds from cracks in the driveway and sandblasting it clean. It makes a big difference.
Hang mirrors
A clever and cost-effective trick to give the illusion of space and light in your entrance hall is to hang mirrors on either side. But make sure it’s cleared of prams, shoes and bikes first as that’s the last thing you want to see double of.
If you’re selling your home, all of the above will help improve your energy performance report (EPC) by demonstrating how efficient your property is. If you need advice on how you can improve your EPC rating, give us a call 0131 608 0175 or email info@homereportcompany.co.uk.
