If you’ve found your new dream home and you’re getting ready to make the big move, then adding value to your current house before you sell it is something that many savvy home movers will consider. With house prices having risen by 14.3% in England in 2022, making the next step up the property ladder can be a challenging financial move for many, one which can be helped by adding value to your current home.
However, with the increasing costs of labour and materials, not to mention the current high demand for tradespeople, make sure you weigh up which home improvements will add the most value to your property and give you the best return on your investment.
We’re going to take a look at 8 different ways to add value to your home, depending on your budget and timescales.
1. Deal with structural issues
Before you embark on an expensive kitchen transformation or a loft conversion, it’s vital to know that the foundations of your home are structurally safe. There’s no point in spending money and time making other cosmetic improvements if your home suffers from subsidence, damp or cracks in the walls. Depending on the condition of your house, making sure it’s structurally safe can sometimes be a costly job, but it’s a necessity in terms of adding value.
Working with a professional builder, structural engineer or surveyor is the best way to give your house a thorough check and to make plans for any work which needs to be carried out, giving you invaluable peace of mind for when the estate agent is showing around your prospective buyers.
2. Add a new heating system
Having an updated heating system is a big selling point, especially with the current high costs of utility bills meaning people are being more cautious with their heating usages and looking for efficient options. Many old houses have outdated heating systems which are in need of an update, and although it can be an expensive improvement, with the cost of installing central heating in a two-bedroom home typically ranging from £2,250 to approximately £4,500 for a five-bedroom house, this is a sure way to add value to your home.
The cost will depend on a number of factors, including how many stories the house is, how many bedrooms, what type of radiators you want, your choice of boiler and generally the size and scope of the project.
Make sure to compare quotes online to check you’re getting the best deal for your budget – Central Heating Installation Costs: 2022 Money Savin (householdquotes.co.uk)
Don’t forget that if you are updating your central heating system, it should be done in conjunction with improving the overall energy efficiency of your home, such as sealing any drafts around windows and doors, replacing any cracked windows, and considering double glazing.
3. Loft conversions
Although they’re not cheap and often not easy to do, loft conversions offer one of the best returns on investment, with experts suggesting that they can add up to 20% value onto your home. However, to make sure it’s worth your time and money do the math before any work starts to ensure the loft conversion is not going to cost you more than the added value to your home, and to also be sure that the ceiling price for properties in your area will mean you can sell your home at its new estimated value.
Typically, a loft conversion can cost around £500-600/m², meaning on average anywhere from £21,000 to £44,000 depending on the size and type of conversion. It’s a great way to add value to your home as it’s adding more accommodation space, and this is particularly attractive to buyers, especially if it provides an extra bedroom.
Although a loft conversion doesn’t usually require planning permission as it uses existing space, it is worth obtaining a certificate of lawfulness (£103) from the local council and double checking about planning permission. It’s worth being aware of additional costs which may be involved, such as building control fees, architecture fees, or measured building survey fees to name a few.
Check out this link to get a free estimate of how much your loft conversion could cost – Extension cost calculator: work out the cost of your build | Real Homes
4. Give your kitchen a makeover
A kitchen is often hailed as the heart of the home, and it’s for that reason that many buyers will set their focus on the kitchen when viewing your home. A light, spacious and sociable kitchen is one way to grab their attention, and it’s definitely a room worth paying some extra care and attention to.
The actual value added to your property will depend on how much you spend on the renovation and the state of the existing kitchen, but it could add up to 10%. However, be aware that a brand new kitchen can be a costly project, and if your kitchen is already clean and neutral then spending a lot on it may not increase the value of your home as much as you think.
Book a free valuation of your home before you start any work so you can get an accurate valuation.
If you don’t feel like a full renovation is necessary, small changes such as updating tiles, fixing new lighting or just replacing your workshops can still have a big impact and provide the fresh look that you’re hoping for.
5. Build a conservatory
If you’re lucky enough to have a good sized garden which could lend some space to an extension, then a conservatory could be a great way to add value to your home increasing it by 5-10%. Conservatories create an additional versatile family space and provide an extension of your home into the natural environment, creating a bright and airy space to relax.
However, building a conservatory can be an expensive project which requires planning and design elements too. Naturally, the total cost will depend on a number of factors, including the square footage of the space, elements of the design such as choice of windows, and the quality of materials used.
Generally, you can expect to pay anywhere from £5,000 – 20,000 for a brand new conservatory, but this is only a rough cost and will largely depend on the requirements of the project itself.
To make sure you get the very best value out of your conservatory, make sure to prioritise high quality materials that will last over time, energy efficient windows to cut down on heating costs, and garden space; after all you don’t want your new conservatory to take up the majority of your garden.
6. Double glaze your windows
Double glazing is a type of insulated window or door with two glass panes divided by air or gas to make them energy efficient and soundproof. Having an energy efficient house is very attractive to potential buyers, with double glazed windows potentially adding up to 10% value on your property. Not only do double glazed windows improve house aesthetics, but they also offer a number of benefits:
- Energy efficiency
The structure of the double pane windows means that you can keep your house nice and cosy in the winter as the glass keeps the heat in, whilst in the summer the glass keeps the cool in and the heat out, giving you a balanced comfort all year round.
This has a positive effect on your energy bills and in turn will give you a better energy rating which is much more attractive to potential buyers.
- Noise reduction
If you live on a busy road then double glazed windows will be a big selling point to prospective buyers, offering a peaceful and quiet environment with little or almost no sound from the busy world outside.
- Safety
Double glazing is also a big pro when it comes to your home security as it adds an extra layer of defence to your windows, making it difficult to break in from the outside, particularly when paired with strong locks.
- A modern look
Not only do double glazed windows offer many practical benefits but they also offer a modern, clean look which will add to your property’s kerb appeal, with a variety of designs and colours to choose from to best suit your house.
7. Increase your kerb appeal
As previously mentioned, kerb appeal is an important element to consider when you put your property on the market. Essentially, this means making exterior improvements to ensure a good first impression. Some of the most popular ways to increase your kerb appeal include:
- A lick of new paint
One of the first things your prospective buyers will see will be your front door, so if it’s looking a little tired or could do with a refresh, a lick of weatherproof fresh paint will do the trick and help your home seem more welcoming.
- Tidy up the front garden
Giving the hedges, shrubs or flowers at the front of your home a good trim to tidy them up will instantly help your kerb appeal. If your grass is looking a little yellow, try some lawn feeder to revive it, and remove any unwanted weeds.
- Add some exterior lighting
If you’re selling your home in the winter, then having some strong outdoor lighting will be important, especially for viewings taking place after work on dark evenings.
- Spruce up your gate or fence
Again, a lick of fresh paint can do wonders when it comes to your front gate or fence. For just a small cost and little amount of time, getting stuck into some DIY painting can have a big impact on your kerb appeal for minimal effort.
- Review your window display
Give your windows and frames a good clean from the outside, and have a think about what you’re displaying in them from the inside. Adding a vase of bright flowers or some decorative items like candles or ornaments will give an instant homely feel for anyone having a peek from the outside.
8. Give your garden a makeover
According to research by the AA, having a well-kept landscaped garden could increase the value of your property by up to 5%. Of course this depends on the amount of work you carry out and the size of your garden, but there’s a whole variety of ways that you can unleash your inner green fingers and make your outdoor space a beautiful oasis.
Some of the most important elements to consider when it comes to your garden include having a decent side shed for that all important extra storage space, a good quality patio or paving stones, and secure fencing, walls or gates.
Less costly improvements could simply include making sure your garden is well kept by cutting back weeds, pruning flowers and generally maintaining a tidy green space that your potential buyers can imagine relaxing in on a warm summer’s day.
We hope this has given you some food for thought when thinking about adding value to your home, and if you’re ready to take the next step and make the big move, drop us a message to find out how we can help you move stress free.With the current economic climate and the rising cost of living, downsizing may be something that’s on your mind. Moving to a smaller, less expensive home is a great way to free up money, especially if the kids have flown the nest and you find yourself rattling around in a big house only using a few rooms. However, there’s a few factors you should consider before making the big (or small) move!