It’s been close to five years since the housing market collapsed and it hadn’t shown any encouraging signs of recovery until now. With the housing market in recent years being rather stagnant, homeowners had been opting to make home improvements to their properties rather than moving. However in an attempt to increase the value of their homes and to improve the saleability in the long-run, homeowners must choose which investments to invest in wisely.
Too often homeowners think of home improvements in terms of being something that is going to improve their day-to-day living. However, when attempting to add value to your home, this isn’t the correct mind-set. If you’re planning on selling in the future, then improvements need to be tailored to what the buyer wants, or will want in the future! Some foresight is essential here. So, what changes are recommended if you’re aiming to achieve improved functionality and comfort, whilst retaining and increasing your homes attraction for potential buyers?
Image: myhomeideas.com via Jen on Pinterest
Extend – The Loft is a Good Place to Start
Extending your home in one way or another is the ideal way to add real value. Nothing does so more than adding extra square footage that could be used as a bedroom, gym, office or games room. To do so, a loft conversion is a good place to start. Unlike many other structural changes, a loft conversion is considered one of the least disruptive, as the majority of the work can be done from the outside. In order to achieve maximum value from your loft conversion, make sure it is easily accessible and in-keeping with the appearance of the rest of the house. There’s nothing worse than investing in something that you later realise to be an eyesore, so subtly is always best here. Although a loft conversion may seem like the ideal way to add real value to your home (and it has been proven), simple and cheap it isn’t! Loft conversions can often be costly and in many cases you will require planning permission and even the help of an architect to help get the project delivered to your exact requirements. Therefore some careful thinking and planning is required before taking the step.
The Kitchen Matters
Understandably not everyone has the money or patience to extend their living space. If this is the case and you wish to focus your improvement on one room alone then focus it on the kitchen. Although minor improvements such as a splash of colour, upgrading cabinet doors and handles or just clearing the surfaces can have an impact, in order to add real value, a complete re-fit is recommended. It has been estimated that a good kitchen can add up to an extra £5,000 to the value of your home, whilst vastly improving its saleability. Of course, it’s worth keeping this figure in mind when assessing how much you’re going to spend on the re-fit. However, when competing in the competitive marketplace, a house that has a brand new fitted kitchen seems far more attractive to the potential buyer than one that doesn’t. Therefore investing wisely in a quality kitchen could be the different between your house being on the market for weeks or for months.
Add Central Heating
Although significant structural changes do have the most impact on the value of your home, the smaller things do still matter. Adding or improving the central heating system will add more value to the property than it costs. An added bonus is that it is considered crucial by almost all buyers when looking to buy a house (perfect for in a few years’ time when you wish to sell!). In order to add extra value in the meantime, whilst updating your central heating, do so in conjunction with improving the general energy efficiency of your home. Focusing your efforts on sealing any drafts around windows and doors, insulating the loft and consider replacing the windows, opting instead for double glazing or more energy efficient models (this will obviously be at an added expense).
In summary, value can be added to one’s home in a variety of different ways. However, it’s not always the case that the more you spend the more you make. When improving your home specifically to add value you must be sure to focus on changes that the potential buyer would need. It’s only then will you see the real value of your investment.
Author Bio: Arthur Moore is a home improvement enthusiast from the South East of England with an interest in kitchen design. Arthur is a contributing writer for Harvey Jones Kitchens, experts in quality handmade kitchens.