We have a look at some of the best ways to increase the value of a home through renovations and additions whilst considering the long term prospect of potentially selling it in the future.
Adding value, as well as space, to a home is the ultimate goal of a homeowner who is considering selling at some point in the future. If you are going to go through the stress of working on your home, it is important to consider the longer term picture; what would appeal to the majority of buyers looking for your type of property? It is also imperative that the works you do, and the result of your effort, suit your needs whilst the property remains your home. Major works on a property should be considered as a long-term investment and you should see a return on investment in the future because the work will add capital value to your home.
Open Plan Living
Research from the Federation of Master Builders shows, perhaps surprisingly, that creating an open plan living space by removing internal walls, adds the most value to a home. For reasonably minimal investment you can change the whole feel of a property, as long as the walls are not structural. Creating one large room from two adds a sense of space, even in smaller homes that can then be used in numerous different ways. Offering open plan living often makes a property far more appealing for prospective buyers.
Removing a wall to create open space
Estimated Cost: £3,426
Days to complete: 7 days
Average added value in the UK: £26,153
Updating Your Kitchen
Refreshing and updating a kitchen doesn’t have to mean installing a brand new kitchen at a vast expense. Replacing cupboard doors, installing new work tops and replacing tired tiling can impact hugely on the perceived value of a home and can add a whole new lease of life.
Metro tiles are neutral, on trend, come in a range of colours, and are not expensive. Consider the colour of the grout you use for contrast- grey grouting around white metro tiles always looks expensive, when in fact it isn’t. Lighting in a kitchen is also important and investing in the small details like handles and lighting can make a kitchen look polished and expensive.
Estimated Cost: £4,127
Days to complete: 8 days
Average added value to home in the UK: £17,306
Add a new W.C
The space under the stairs is one of the most neglected areas of most homes. By creating a downstairs W.C, visitors don’t have to traipse through your home and this can add over £10,000 to the value of the property. Expensive hand wash, reed diffusers, mirrors and beautiful lighting adds an opulent finish for relatively little investment. The area above the basin is small so you could perhaps invest in some more stylish tiles for a considered finish.
Converting under the stairs space into a bathroom
Estimated Cost: £2,622
Days to complete: 7 days
Average added value in the UK: £12,420
As with any major works if you’re hoping to add value with the long term view to sell, you need to keep things neutral. Don’t paint a newly refurbished room a bright colour as it might not be to everyone’s taste, instead add colourful touches with soft furnishings and wall art, and always try and think long term. Finishing touches do matter; if you’re installing new sockets in a kitchen, think about adding USB sockets, add expensive handles to cheaper cupboards and keep surfaces as clutter free as possible in order to create a sense of calm.
This chalet-style house situated in Sway recently underwent a beautiful transformation with renovations and updates throughout. Included in the renovation is a brand new bathroom remodelled with ceramic tiles, modern fixtures, a freestanding bathtub and a rain shower. By selecting a soft and warm colour scheme, the bathroom’s new appearance is simple and modern - a perfect combination that will pay off, not only when it comes time to sell the home, but also as the perfect space to unwind in after a busy day.
For more information please contact Winkworth Sway or call 01590 683834.
This stunning Victorian house sits in the beautiful countryside just outside the town of Berwick. Offering panoramic views, this home also recently underwent renovations in the downstairs kitchen/living space. This country-chic inspired kitchen with modern touches holds an immense amount of charm and is a great example of a newly renovated kitchen for families.
For more information please contact Winkworth Lewes or call 01273 471471.
Located in the heart of Reading, this spacious flat demonstrates how a loft can be beautifully converted into a multi functional living space. The effort to convert an unused loft can be done simply by utilising the charming features already in place, such as exposed brick walls and beams. It’s an effective way of adding charm without spending extra money on building dry walls and paint.
For more information please contact Winkworth Reading or call 0118 4022300.
Situated in the coastal town of Brighton, this contemporary home showcases a great example of a newly renovated modern kitchen. The kitchen is completed with plenty of counter space including an island with built in appliances. Maintaining the home’s contemporary theme, the space provides a beautifully modern style with dark finishes running throughout.
For more information please contact Winkworth Brighton & Hove or call 01273 772 175.
Click here to view our infographic 'The Cost of Renovations'.