If you are looking at ways to increase the value of your home before putting it on the market, it is always a concern to know if you will get a good return on your investment. Here is a look at which renovations are actually worthwhile, and which ones to avoid.
A loft conversion could increase the value of your home by up to 15%, according to Zoopla. This is especially true in urban areas where space is at a premium. Loft conversions can usually be carried out without planning permission. However, it’s important to get accurate quotes so you can work out if the expenditure is worthwhile.
In urban areas, off-street parking is definitely at a premium. Therefore if you have any disused space at the side of your house it may well be worth having this resurfaced to add hard standing. Replacing a front garden with a parking space may make economic sense if you live on a busy street where parking is difficult.
Kitchen renovations are often cited as the best way of increasing your home’s value. However, this is not always the case. It is often more the size of the kitchen that is important to buyers, rather than how new the cabinets and worktops are.
Kitchens that are big enough to sit down and dine in are more in demand than small galley kitchens for example. Therefore if you can extend a small kitchen it may add more value than just gutting the interior and replacing it with the same layout. There is also no guarantee that the viewer will like the particular style you have chosen, no matter how on-trend it is.
Installing a wine cellar, cinema room, or home gym in your basement might seem like a good idea to attract attention and generate higher bids. However, it is best to avoid anticipating buyer’s needs, and to keep the rooms from looking too personal and specialised. This helps the viewer to imagine themselves living there.
Homes with original features intact, such as fireplaces, picture rails, and tiled flooring are highly sought after. Therefore it is important to try and preserve them wherever possible rather than replace them with modern alternatives. When making alterations, always consider how it will alter the character of the property first.
If the bathroom is on the small side, it may be tempting to remove the bathtub and replace it with a wet room or walk-in shower. However, families with small children and dog owners often view a bath as a ‘must have’ feature. Therefore you may be seriously limiting your pool of potential buyers by getting rid of the bath.
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