When renovating your home, you always want to know that with that hefty price tag comes the promise of adding value to your home, or at least, that you will recoup your costs come sale day.
Loft Conversion – Adds 12.5%
At a hefty price tag of around £20,000 for building costs, a loft extension might be low on your list for renovations you’d like to do to your home. However, when you find out that they can add up to £40,000 (12.5%) on to the cost of your house, suddenly it might seem more appealing.
Adding that extra bedroom/ bathroom/play room/ study can make all the difference to the feel of your home. By adding similar staircases that you currently have, the feel to your home will flow, allowing the extension to feel as if it was part of the original blueprint.
Conservatory Extension – Adds 11%
In the 1980’s, Conservatories gained a bad name for themselves as a lean-to construction which was merely an afterthought. Cold in the winter, hot in the summer and usually having a slightly strange smell to them…How things have changed. People now build conservatories and orangeries in to their properties as extensions allowing additional living space attached to the kitchen and an abundance of natural light flooding into their home.
London has seen an increase of people digging down, not building up. The price that can be added to a smaller property with extra space is astronomical, but heed this advice… this renovation is only worth the cost if your house is costs over £300 per sq foot. Have an Estate Agent value the price of your property based on its sq footage. With £200 per sq foot for digging & £100 per sq foot for fitting it out, it is not a cheap task to undertake & is not for the faint hearted!
Although it sounds easy, to dig under your property, adding additional rooms and living space – this renovation is a serious extension. Any structural changes to the building can never be taken lightly & must always be assessed by a specialist.
Update your Garden
Big open french doors throw natural light to your home, if you have doors to your garden already, consider updating them with bi-folding doors. Additionally, when putting your garden in the limelight, consider laying decking to update the outside and make it more useable. This costs up to £5,000 but can add 2% on to your property value. So providing your property is worth more than £250,000, you’ll make your money back.
What little Extras can I do to add value to my home?
1.) Update your Front Door
Adding a secure front door can benefit sales and increase the buyers sense of safety. Even little aspects such as giving an old door a new lick of paint, new door handle & a new house numbers can make it look shiny and new. After all, first impressions count!
2.) Paint the outside of your home
Costing between £100 – £1000, updating the paint outside your home can make a big difference. If you do not have paint but your house boasts bricks, you can consider sandblasting them to restore them to their original glory.
After you’ve tarted up outside, consider how the property now looks – wash windows, fix guttering & renew anything that looks tired.
3.) Paint inside
That bright pink bedroom, the dark blue hallway… although you may have loved the colours when you last redecorated, it will not be appealing to buyers.
Paint the entire home with light, neutral colours & use accessories that compliment the rooms. This allows more natural light reflection as well as providing a blank canvas for prospective buyers. If it house is freshly decorated, it attracts buyers who are willing to pay more to move in to a ready-to-go home!