As property prices remain high, and interest rates continue to bite, many homeowners are staying in their houses for longer instead of moving elsewhere. Instead of having to pay out excessive amounts of cash on survey and estate agent fees, legal costs and more, they’re investing in their current properties by maximizing the space they already have and adding value for the future.
However, if you don’t know which improvements may be the most beneficial to carry out – you’re unlikely to see much of a great return on your investment. Indulging in a garden makeover or new swimming pool may seem like a great idea as things that add to the quality of your life – but they may not be the best way of boosting your home’s value. Here are some home improvement ideas specifically tailored to help you get more out of your property in terms of financial appraisal.
- Convert Your Loft
One of the most common and popular ways of adding space to a home is with a loft conversion – and these upgrades are capable of increasing the value of a property by as much as 20%. In certain cases, it may be possible to complete the work without planning permission under permitted development rights, but you will need to do some Detroit-based research before getting started.
- Consider An Extension
Another way to add extra space to your home – something that can be a common factor when it comes to increasing value – is with an extension. Providing you choose the right materials and building professionals to get the job done – an extension can offer significant extra value to your home, and may offer an easier, cheaper alternative to having a basement installed.
- Install An Extra Bathroom
Everyone loves having an extra bathroom in a house, but you’re going to need to use your common sense when it comes to making this home improvement. Converting a small bedroom into a bathroom may be a good idea if you have a five-bedroomed house with only a single bathroom. On the other hand, it may be a poor idea to transform your three-bedroomed property into a two-bedroom home with two bathrooms.
- Work On Curb Appeal
Curb appeal is often more important than many homeowners think. It’s the factor that draws potential buyers into your home and underestimating its importance is a huge mistake if you want to increase your property value. Consider investing in professionals to help you improve your landscaping if you feel as though a lot of work needs to be done. Remember, curb appeal shouldn’t stop at the front garden – you can also extend your efforts to the back yard too.
- Offer Plenty of Storage
Most new homes that you view today will be equipped with numerous innovative solutions for storage, whereas older homes lack even some of the most basic options. If you don’t have the space to add new storage spaces or closets – consider redesigning the area you have to make the most out of space. There are plenty of stores around today dedicated completely to offering incredible storage options.
- Go Energy Efficient
Many buyers today shop for homes with energy efficiency in mind. In a world where we all want to save as much cash as possible – old and drafty windows can be a serious problem. Adding energy-efficient windows to your home can not only save you money on your cooling and heating costs, it also ensures that your home is more appealing to future buyers.
- Don’t Forget The Basic Updates
Remember that sometimes it’s the simplest things that can add value to your home. Fixing the roof when it starts to leak, replacing rotten wood, getting rid of mold and keeping the paint fresh are all important in ensuring that your home doesn’t begin to deteriorate over time. Buyers want a home that is safe, solid, and healthy – so they’ll be sure to check for signs of regular maintenance.
Boost Your Value
Improving your property value can be an expensive task, or a cheap one – depending on the amount of work that needs to be done. However, one thing you’re sure to find is that the challenge is on-going. You’ll need to dedicate time and effort to ensuring your home stays in top condition over the years. What are some methods you use to increase property value? Let us know in the comments!