Unless you’re planning to stay in your home forever, it’s worth considering whether any improvements you make are going to add value. If this is your home, the chances are good that your primary concern will be to create a nicer living space.
However, aesthetics aside, don’t overlook the chance to add capital to your home by way of a few judicious home improvements. After all, if you buy some good quality artificial turf in Los Angeles, the fact that your garden is immune to drought is undoubtedly a selling point. So what are the most cost effective home improvements you can make in order to add value to a property?
A New Kitchen
Kitchens are always a major selling point in a modern home. Even people who hate cooking want a beautifully designed, modern kitchen. These days, we expect a fully fitted kitchen when we buy a new home. It might not be to our tastes, but it should be relatively new, well fitted, and in keeping with the style of the property.
Before you splash out on a new kitchen, pay attention to what your property is currently worth and check the value of comparable properties in the local area. All properties have a price ceiling. This is governed by the property and its location, so it is pointless spending a fortune on a designer kitchen in a home that will never be worth much. Unless you want the benefit of course.
To make the most of your kitchen, install good quality units, use a professional kitchen fitter, and stay away from anything that is too personal in terms of styling. Your future buyers will probably not appreciate anything too cutting edge or extreme,
A Modern Bathroom
A modern bathroom is another smart investment. A beautiful shower room or walk-in wet room can add value to a home. It will also make your property easier to sell.
For best results, go with white bathroom furniture and consider investing in built-in storage arrangements. In a modern home, clean lines and non-cluttered spaces work best. In older properties, look for bathroom furniture in keeping with the style of the house.
En-suite bathrooms are always a good selling point, but beware of sacrificing a bedroom to create an en-suite bathroom. Losing a bedroom will affect the value of your home, and not in a good way.
Add an Extra Bedroom
Adding an extra bedroom is always a good investment. Where you add it is up to you, but an attic conversion is relatively cost effective and can be completed with minimum disruption. Another alternative is to extend over an attached garage, if you have one. Alternatively, a two-story extension will add a bedroom plus extra living space downstairs, so you get even more value for money.
More Living Space
A lack of living space is one of the primary reasons why people move house. This might be why you are considering moving, but stop and think about whether you have the space to extend your existing home instead.
A small extension will not be too expensive and if done well it will add value to the property. If you cannot afford to build an extension, it might be worth adding a conservatory or sunroom instead. This type of living space is not as flexible, as you cannot use it in the winter unless you install effective heating, but it is still a selling point and will attract buyers regardless.
Energy Efficiency Home Improvements
Energy efficient home improvements are not as sexy as a new kitchen or bathroom, but they do add value. Old homes are costly to heat, so given a choice, a buyer will prefer to pay extra for a property with solar panels, sealed unit double-glazing and cavity wall insulation. In some cases, you may even be able to apply for a grant to have the work done, so make sure you check this before engaging an installer.
The last thing on the ‘to-do’ list if you are thinking about making some home improvements is to have some landscaping done. Tidying up the garden, adding decking or a patio area for outdoor entertaining, or even installing a swimming pool if the climate is suitable – all of these things will make a home more attractive and add value.
Do your sums before you carry out any home improvements. It is useful to add value, but only if you are planning to sell the property within a few years. Otherwise, don’t spend the money unless you want to live in a nicer home.
