Owning your home is awesome, right? But what not many people know is that by re-investing in your property you can smartly maximise the value of your home. This turns your house into an amazing and valuable asset. Who doesn’t want to increase their house value whilst improving the look and feel of their house?
Read this guide where I list my favourite tips on home improvement. I also ask a few experts who are involved in installing various home improvement project.
#1. Fix Any Problems
If you are considering selling up straight away one of the most cost-effective (and simplest) ways to add immediate value to your home is to fix any outstanding problems. Now, this might seem like a no brainer but you would be surprised at the amount of people who overlook small details when selling a house.
When you are planning to sell a home you must make sure that all the small things are taken care of such as new roughcasting, plumbing issues or loose joinery.
Fixing these does not add direct value to your home but instead makes your home easier to sell, allowing you to accept a higher price when it comes to the final deal.
#2. Build a House Extension
One of the smartest ways to add direct value to your home is to build a house extension.
We asked Sam Harvey at Earnock House Extensions Glasgow who said the following:
We have customers contacting us looking to increase the value of their home and the first thing we suggest is a house extensions. House extensions are a big decision for home owners but the return on investment can be staggering – especially on larger properties.
Sam is on the ball here as official Office for National Statistics figures estimate that each square meter of extension adds on average £2363 to properties in England and Wales with that figure rising to £17988 in Kensington and Chelsea whilst falling to £755 in Blaenau Gwent.
#3. Invest in Some Fresh Glass
A fresh set of windows for a small home goes a long way whilst more prestigious glassing options add significant value to homes.
We asked Stephen Clark at Cube Glass who said the following:
When looking to add value to their homes people always look at fancier, more tangible objects that stand out such as a fancy kitchen, a garage extension or a garden upgrade. A lot of people overlook the value of a decent set of windows. We have also been installing some 1st class curtain walling on multi-million pound property that always end up being sold for big bucks!
The curtain walling Stephen mentioned is pretty expensive and has typically been used in modern office blocks but is now becoming more popular with homeowners looking to add tangible value to their home.
#4. Lay Down Some New Flooring (or fix old flooring)
Rugged and worn flooring simply won’t do if you are looking to have a home that will have value on the property market. Old and worn carpets? Bin them! Scratched and tired wooden flooring? Replace or repair it.
We asked Andy King at Allfloors who said the following:
I think that flooring is a popular option for people looking to add value in their home. A fresh floor makes a home feel much more inviting and well kept. I think that an old or worn floor isn’t nice when you’re looking to buy a property and a lot of people don’t understand how much value premium flooring can add.
Andy’s claims are backed up by the fact that in the US the National Association of Realtors found people (especially those under 55) were more than willing to pay extra for a house with hardwood flooring.
#5. Install a New Kitchen
According to the National Association for Estate Agents, the room that provides the most return on investment is the Kitchen. A new kitchen will add an estimated 6% on to your house’s value.
The kitchen is the focal point of any home and is often a deciding factor for home buyers.
#6. Fit a New Bathroom
Bathrooms do add value to your home! In-fact, they cost around the same price as a kitchen. However, bathrooms only add about half the value to a property that kitchens do.
So if you’re looking to invest your hard earned cash it might be worthwhile having a look at your home before delving into the world of risky stocks…