House prices have jumped to a record high in April, with figures from Rightmove showing that the average asking price has increased by a major 2.1% to £327,797, an increase of £6,733 from March but here are some ideas to increase the value of your home even further.
Large Projects, Large Value
A loft conversion is a sizeable project which can increase the value of your home by a total of 15%. Adding this extra bedroom will see the value of your home increase but furthermore, if you were to include an en suite bathroom in the build you could see the value increase even further. Additionally, a positive is that most lofts can be converted which means it creates fewer problems, however, always make sure you contact an architect or a builder to double-check before you start the build. Finally, with a broad range of options to choose from such as the cost-effective roof light conversion or the more expensive mansard conversion you get to pick the perfect option for you and enjoy this new space whilst increasing the value of your home.
The project that increases the value of your home by a major 30% is the conversion of your cellar into a living or storage space. Though this sounds like a complex project, in reality, converting your cellar can be one of the least complex home improvements as it qualifies for a “plan of use” for planning purposes, this means you don’t need planning permission. Nonetheless, if you are making structural changes to a listed building, you will obviously need to talk to your local planning officer. So how about you take your bottles of wine from your old cellar and enjoy drinking them in your brand new living space, it’s worth celebrating a whopping 30% increase to your home’s value.
Small Projects, Small Value
Now if the conversion of your cellar or loft conversion is too big a project for you then there is no need to worry as there are smaller projects which also increase the value of your home. Firstly, adding a new bathroom to your home boosts the value of your home by between 3-5%. A bathroom can be an expensive investment, however fortunately it is possible to make updates on a budget.
For example, to keep your price down, keep the existing layout of your bathroom. Updating your shower? Framed enclosures tend to be cheaper than frameless models. Lastly, save even more by choosing a bathroom suite rather than purchasing individual pieces, and remember to always look for the seasonal sale. Overall, this smaller project will help to boost the value of your home.
The final project is to make the living area an open plan which sees the value of your home grow between 3-5%. Rather than spending a large amount of money on an extension, you can transform your home by knocking down the wall that separates your kitchen and living room. Also, another benefit is this can be a DIY job but obviously taking it down without professionals could be catastrophic especially if it is a low-bearing wall, so I would advise some professional help for the job.
Alternatively, if knocking down an internal wall isn’t an option you could always consider a rear or side extension. Overall, this is a more costly and time-consuming project but the outcome is the same with the value of your home increasing and that bonus of more space.
Little jobs you can do!
Also here are some other jobs you can complete yourself or get an experienced trade on hand to help, to ADD VALUE without BREAKING THE BANK!
- New Windows, skylights
- A new lick of paint
- New flooring, carpet, wood, or laminate
- New doors, front, back, inside room doors, and sliding/bi-folding doors
- New lighting, rewire, remodel to have spotlights
- More storage areas, built-in wardrobes, and under the stairs storage
- Fitting in another toilet downstairs
- Painting doors, cabinets in the kitchen as well as the surfaces