How to Add Value to Your Home
What home improvements should you consider to add value to your home?
If you aspire to move your way up the property ladder to own your dream home, you need to find the best ways to add value to your existing home. There is no universal answer to what extension project or renovation will add the most value to your home. The result will be dependent on a range of factors including the current condition of your property, its location and the nature of the project.
Regardless of these factors there are some great general areas that are sure to boost your home's value.
Top Tips to Boost the Value of Your Home
Add value to your home with our top home improvement suggestions.
1. Focus on improving the future selling points
If you plan to carry out any renovations to your home it is important to keep in mind what is likely to be a future selling point. What areas will be most appealing to prospective buyers? As an example, a home located in a catchment area for good schools will be appealing to families with children. The addition of an extra bedroom or home office is likely to be a worthy investment.
2. Match the surrounding neighbourhood
As great as it is improving the value of your home, make sure you aren't left in a position where your home out values the surrounding neighbourhood. Potential buys are usually put off living in a property that is more expensive than those around it. Reflecting your neighbourhood will give you reassurance that you are unlikely to be in a position where your property is taking longer to sell, or even selling for less than you expected.
3. Seek professional advice
An experienced surveyor or architect will be able to offer you the right advice on the best home extension or renovation project for your property. They will take into account your homes current condition, value and location to make suitable suggestions that will maximise on value.
4. Quality materials & workmanship
Prospective buyers will instantly be able to tell the difference between a renovation built using quality materials and a project that hasn't. Properties built with inferior materials will experience issues with damp and structural defects, which will reduce its value and pose a problem when it comes to selling. Whereas, a home built with high-quality materials will remain durable and attractive, adding to it's long-term value.
5. Additional living space
An almost guaranteed way of adding value to a property is adding extra living space. This allows potential buyers to imagine more options in how they could use the space and what they could do with the property.
6. Improve energy efficiency
An energy efficient home is always going to be more attractive to buyers, whether they are looking to reduce the running costs of their home or are environmentally conscious. Making your home more energy efficient is a fantastic way to add value. Improve energy efficiency by installing double glazed windows, insulating ceilings and walls and by fitting energy efficient lighting.
7. Outdoor space
Creating an additional garden or patio area is a beneficial way to add value to your home if it currently doesn't have much outdoor space. Buyers are attracted to properties that offer more potential for outdoor areas. Either for outdoor living, or so that the extra space can be utilised for parking or storage space.
8. Cosmetic improvements
Making your property more attractive with cosmetic improvements such as decorating or refitting the kitchen or bathroom is an effective way to spark the interest of prospective buyers and help with a quicker sell.
9. Obtain planning permission
Before you commence any work on your property, such as major renovations or extensions, you need to ensure planning permission is accepted by your local authority.
10. Hire professional builders & contractors
Hire a professional contractor to carry out any renovations or extensions as they will have the expertise and experience to ensure the project is carried out to a high quality and in-line with all safety and building guidelines.
Looking to Remortgage?
Remortgaging isn't only used when your current mortgage deal comes to an end, you may want to remortgage to fund your home improvement projects. Improving your home can add thousands to its value. Speak with our team of experienced mortgage brokers today on 01424 444 597 or email us at info@tms-fs.co.uk. We have access to the entire UK mortgage market, which means we can find the best deal to suit your circumstances.
