CREATE CURB APPEAL
You can also add value in simple ways; make a good first impression with your front door and hallway, and buyers feel more positive about the value of the property itself!
If your front door is looking like it needs a scrub down, a fresh lick of paint or some new door furniture, give it a little overhaul. A new letterbox, door knocker or house number can revive your home’s exterior.
Also make sure pathways and windows are in good repair, and that the hallways is clutter free – good curb appeal can really impact a buyer’s opinion.
EXTEND YOUR HOME
Whether it’s a side return or a glass-box extension, adding a single-storey extension can start at around $30,000, while two storeys are generally about 50% more expensive – so from approximately $45,000 depending on size and location.
A modern extension on the ground floor can increase your property’s dramatically.
When planning an extension, design rooms to be as big as possible, but without sacrificing too much of the garden or outdoor area – this can make a property feel out of balance and deter buyers.
Check with the local planning office to see if you need permission to carry out building work.
REJUVENATE YOUR KITCHEN
Storage is always a key factor for buyers, and the practicalities of a kitchen in particular can really have an impact on how favourably potential buyers view a house. A new kitchen will make your property more appealing to buyers and can add greatly to its value.
Opt for clean, neutral kitchen designs and always keep expense in proportion to the size and current value of your property; for example, there’s little chance of adding value (or even recouping costs) if you add a bespoke $25,000 kitchen to a semi that’s valued at $170,000 – even if it is in a brand-new kitchen extension. Nor is it sensible to put an $8,000 kitchen in a house that’s worth $1million
ADD VALUE WITH A BATHROOM
After the kitchen, the next option is to spruce up the bathroom. A new en suite or second bathroom can add approximately 5% to your home’s value, according to Nationwide Building Society.
But beware: don’t ever add a bathroom at the expense of losing a double bedroom, as this could work against you to devalue your property.
Simply renewing a bathroom suite, with fresh taps, a new shower screen and sparkling towel rails, will also make your home more saleable, and is potentially the best way to re-vitalise the space for minimum cost.
GO FOR GLASS
Go for glass
Adding a conservatory can raise your house’s value by as much as 15% (if it’s part of a full-blown extension), which is a great return on a relatively simple and cost-effective space-enhancing option.
Choose a design that complements the style of your home and make sure it doesn’t dominate your garden – a small conservatory can still add value and space! Also think about its position: a south-facing conservatory needs ventilation and shade, while a north-facing room requires good heating.
Check with your local planning department whether you need permission to build. If you’re within your home’s permitted development allowance (your local planning department can advise on this) and your conservatory is separated from your house by patio doors, you may be exempt.
GO FOR ECO-FRIENDLY ELEMENTS
Making your home energy efficient saves you money, as well as adding value to your home in the long run; Some sources estimate that an eco-friendly house can fetch up to 6% more than a standard one. Many of the eco-friendly home improvements you can make, such as adding insulation and fitting solar-panel heating, make a big difference to your annual energy bills.
The Energy Saving Trust says that in an average home, laying DIY loft insulation can save you up to $145 per year, while according to Nationwide Building Society, laying 27cm-thick loft insulation will reduce heating bills by $210-$250 per year, and cavity wall insulation will save $210-$250 per year.
Elsewhere, a solar water heater, which starts at around $1,500 for a solar water heater, can provide up to 70% of your hot water free!
That’s a substantial saving…that could even go some way towards saving for other home renovation projects!