Whether it’s painting the walls or sprucing up the garden, there are countless home hacks that will make your property more sellable. But it’s often the larger-scale home improvements that will add genuine, long-lasting value to your home.
Today, we’re talking you through the benefits of home improvements, so you can get the best value from your home when you decide it’s time to sell.
1. An extension will make your money go further
With a single storey extension costing an average of anywhere between £39,000 - £65,000, investing in extending your home can often seem like more hassle than it’s worth for homeowners.
But studies* show that adding a double bedroom with an en suite could add up to 20% to the value of a property, and an extra bathroom can add 5%. So, it often pays to extend.
From loft conversions for homes short on space, to extra bedrooms for a ground floor apartment, the long-term added value could outweigh installation costs if your extended property can command a higher asking price.
According to Experian, adding a conservatory will give you the best return on investment, with the average cost of building a conservatory at £5,300 and the value added at £11,050.
2. An energy efficient home will attract buyers
With the majority of prospective buyers looking for a property that is fully modernised, ensuring that your home is installed with energy-efficient windows and plumbing fixtures could increase the property’s value, as well as making it more aesthetically appealing and cheaper to run.
With double glazing for a three bedroom semi costing anywhere between £4,900 - £5,300, replacing single-glazed windows with more secure and energy efficient frames means that you could expect more buying interest.
3. Invest in long-lasting materials for a bigger return
When it comes to property renovations, many of us tend to cut corners in an attempt to save on forking out money unnecessarily.
While sprucing up your property at a lower cost will make it more appealing to buyers in the short term, adding genuine value to a property will go hand-in-hand with the ability to raise the asking price.
Showing off the unique features of a property can also increase the asking price. So, whether it’s reopening a fireplace, exposing solid wood floors or tiling a bathroom with durable, low-maintenance tiles, ensure that you focus on making home improvements which both you and the future homeowner can benefit from.
4. Smarten up to make your property more appealing
First impressions count, which is why sellers should always ensure that a property looks as appealing as possible from the outset.
From repainting shabby window frames and doorways, to fixing broken doors and tiles, sorting out superficial defects will mean prospective buyers can focus on admiring all the positive features of the property, making it far easier to sell.
According to estimates provided by Zopa**, the average cost of smartening up the exterior of a property is £6,000. But you could expect a 75% profit on your investment, with the average value added at £4,500.
**Zopa
Take a look at our Home Inspiration section for more interior design ideas.
