Todays’ Guest post has some great tips and ideas for maximising the value of your property, with suggestions for home improvements that really make a difference.
Following years of decline, it’s no secret that the property market is on the path to recovery, with house prices edging ever closer to their pre-recession peak. Understandably, when you need to sell a property and move elsewhere, you will want to make sure you get the best price possible. Alternatively, if you have just moved into a new house, you’ll want to make sure you maximise its value and make the most out of the money you have spent. Read on for a list of top tips for increasing the value of your home:
Adding a loft conversion can be a fantastic way of increasing the space in your house and is also one of the most effective ways to add value. According to building society Nationwide, adding a new bedroom or bathroom as part of a loft conversion can add as much as 20% to a property’s value. Depending on the size of the available space, you could turn the loft into an office, spare bedroom or even a little studio.
Robert Gardner, Nationwide’s chief economist has said “Homeowners that add a loft conversion or extension incorporating a double bedroom and a bathroom can add about 20% to the value of a three bedroom, one bathroom house.
“Households appear happy to pay for more space and our analysis suggests that, providing the room is useable, adding an extra bedroom can be a good way to increase the value of a property.”
Add a downstairs toilet
Creating a downstairs loo is a really useful addition to any property. If you have a large family, it is especially handy when the upstairs bathroom is occupied during the early morning routine. It can be a great way to maximise the space under the stairs or add function to an unused lobby area.
Smaller sinks and trendy taps will help to make the space stylish and functional, with a number of designs available to suit your tastes. You can look online at Mira taps to find the perfect combination for you.
Construct a conservatory
Not only does a conservatory offer increased space, it also provides a calm and relaxing environment, especially during the summer. A conservatory is an incredibly desirable addition to the home and is a great place to host any get-togethers in the warmer months.
If not a conservatory, you could create a utility room, offering a place to keep a chest freezer, washing machine, tumble dryer and a range of other items and appliances that might not suit the rest of the house.
Improve the kitchen and bathroom
When purchasing a property, it is often the kitchen and the bathroom that are in the biggest need of upgrades. Adding sparkling new surfaces to a kitchen, as well as the latest technological features, can be a real draw card for people on the hunt to buy property.
A new bathroom looks both clean and elegant and can really make a difference to people when they are viewing a home. Shining silver taps and stylish basins can also help to add a touch of sophistication and glamour.
As expected, modern features add value to a property, as the new residents will not have to invest in new suites once they move in.
Don’t forget either, that with all of these renovations comes extra costs like potential scaffolding, skip hire and surveyors. It’s all worth it in the end of course.
Improve energy efficiency
Energy efficiency is a big deal in the current property market. With energy standards for residential homes increasing and the cost of utility bills on a seemingly continuous rise, it’s not only important for a property to abide by legislation, but it is also vital to save money on energy bills as much as possible. Adding double-glazing, increasing insulation and even installing solar panels will all help limit the amount you spend on energy bills every month. Having a home with minimal running costs is great while you live there and is also a massive draw for future house buyers.
It’s easier than ever for homeowners to increase the energy efficiency of a property. Government incentives such as the Green Deal offer loans to install a range of carbon friendly systems that will help to minimise your reliance on fossil fuels. In some cases, energy generated can be fed back into the National Grid and sold at a decent rate, offering you a monthly income for the power that solar panels or small wind systems create. It’s a gift that just keeps on giving!