Homeowners should exhaust every possible avenue that can add value onto their property. These improvements, no matter how big or small, will attract higher offers when the time comes to sell.
Even if you’re planning on staying put for now, completing ongoing renovation work can really pay off in the long term. If this is something you’re considering, we’ve put together five ways you can add value to your home.
Converting existing living space is the most effective way of adding value. It’s a safe investment and will never fail to increase the property’s selling price, especially if you add an additional bedroom and en-suite.
Planning permission is not usually required either, although a party wall agreement may be needed, and the whole process can be completed in around one or two months. Loft conversions typically increase your home’s worth by 10-20%.
Similarly, a garage conversion is another fantastic way to boost your home’s resale value in the future. Not only that, but you’re taking advantage of a room that is seldom used to store a vehicle.
Garage conversions are more likely to require planning permission – something a conversion specialist can take care of – and will take longer to complete. Estimates suggest a bedroom/en-suite conversion can add around 20% onto the property value, with a playroom, gym or study adding 10%.
Home extensions are more expensive and require expert planning before work begins. However, once completed, they’ll really help your home stand out on the market – especially in areas where all properties have the same design.
Until May 2019, single-storey extensions up to eight metres (detached properties) and six metres (all other properties) don’t require planning permission. In terms of value, you could be enhancing your home’s worth by a quarter.
An often-neglected part of the home is the roof. Cracks, loose tiles and damaged shingles will result in leaks and soon turn into a major problem. Damaged chimneys or ventilation issues can also be a serious concern and put off potential buyers.
A new roof can cost under £5,000 but add twice as much to the overall value of your home. MPK Lofts have a range of roofing solutions to suit different types of property, as well as being able to provide a free quote before work begins.
Prospective buyers will employ estate agents and surveyors to assess your home’s condition. Quick fix solutions are unlikely to fool them and this will bring the overall sale price down. Any problems, such as structural damage, cracks or damp, need to be rectified as soon as possible.
A lick of paint or new carpet will invigorate the home’s interior, whilst any creaky doors, dripping taps and loose tiles should be attended to. Most people can complete these tasks on a weekend, giving your property a much-needed facelift that will satisfy buyers.
If you’d like a chat about how a loft or garage conversion, extension or new roof can help increase the value of your home, get in touch today.
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