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.
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.
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