Key takeaways
- Loft and garage conversions can significantly increase a home’s value by utilising existing space and are particularly valuable in urban areas with limited space.
- Home improvements enhance a property’s curb appeal - upgrading the kitchen and bathrooms, creating an open-plan living area, and adding off-street parking are effective strategies for boosting property value.
- Addressing structural issues is essential before making cosmetic improvements, while budget-friendly enhancements and energy efficiency upgrades can also contribute to increased property value.
Maximising space with loft conversions
Loft conversions are a fantastic way to gain valuable living or storage space without altering your property’s footprint. They transform underutilized roof space into functional areas like an extra bedroom or a master suite, thereby maximizing existing space. And the best part? A well-executed loft conversion can increase your property’s value by up to 20%, particularly in urban areas like London where space is at a premium.
However, you must comply with building regulations when planning a loft conversion. This includes ensuring a minimum headroom and adhering to fire resistance standards. You should also consider the suitability of a loft conversion for your property by assessing factors like roof structure and cost.
Transforming Garages into Valuable Living Spaces
One way to make the most out of your garage is by turning it into a useful living space, instead of just using it as storage for rarely used items. Similar to loft conversions, converting a garage can increase your property’s value by up to 15%. The potential uses for this new space are limitless and could include creating a home office, gym area, playroom or even an extra bedroom.
Before starting on a garage conversion project, be sure to check with local authorities about any planning and building regulations that need to be followed. Keep in mind that transforming your garage into livable space requires more than just furnishing it - considerations such as structural integrity, insulation and heating must also be taken into account.
A professionally converted garage has the potential to greatly enhance both the functionality and aesthetic appeal of your home while increasing its overall value significantly.
Enhancing curb appeal and outdoor spaces
A property’s initial appearance holds great importance, especially in terms of its value. Investing in enhancing your home’s curb appeal can result in a 2-3% increase in its overall worth. Simple upgrades such as painting the front door with a new colour, adding plants and improving garden landscaping not only add monetary value but also make it more appealing to potential buyers.
Strategically planning your garden landscape can significantly elevate the value of your property. Incorporating aesthetically pleasing flora, maintaining well-maintained lawns and organised shrubs, integrating decking or patio areas for outdoor living space enhancement are all factors that contribute positively towards increasing property value. Incorporating storage options like a garden shed adds functionality to the outdoor area instead of just being decorative.
Implementing these ideas for landscape improvement mentioned above on your premises effectively transforms them into an asset rather than simply serving as decoration.
Upgrading kitchens for maximum impact
The kitchen is often seen as the heart of a home, playing host to meal preparation, family gatherings and precious memories. It’s no wonder that renovating your kitchen can increase your property’s value by 5-15%. One effective method for adding value is through a side-return extension which improves both the layout and functionality.
Aside from rearranging its configuration, consider making these upgrades:
- Introduce an island counter.
- Upgrade appliances.
- Install new countertops.
- Leverage storage options.
When planning changes to your kitchen, keep in mind ease of movement and accessibility. By creating a well-designed space with practicality at its core, you not only add value but also attract potential buyers who are seeking convenience in their future homes.
Adding bathrooms for convenience and value
The addition of a new bathroom, particularly one on the ground floor, can have a significant impact on the value of your home. In fact, this upgrade could potentially increase its value by 4-5%. For properties with multiple bedrooms but only one bathroom, an extra bathroom holds great appeal to potential buyers and raises questions about how much added value it brings.
It’s important to consider the expenses involved in installing a new bathroom suite, typically ranging from £4,000 to £6,000. A more cost-effective alternative may be adding a downstairs bathroom which offers convenience for both guests and family members while still contributing positively towards increasing property value.
There are very cost effective ways of doing this in today's world, like using specialist renovation companies like Toolbox - they even provide financing too!
Embracing open-plan living areas
Open-plan living areas are in high demand nowadays and can significantly increase the value of your home. They create a feeling of spaciousness, promote social interaction, and are particularly popular among modern buyers. In fact, adding an open-plan area to your property could raise its average price by £20,000 to £48,000.
Making the transition from a traditional layout to an open plan space is no small task as it often involves structural changes and requires a considerable budget. Therefore, it’s crucial to carefully strategise before embarking on this project - taking into account factors such as maximising valuable space usage, proper lighting placement, and furniture arrangement.
To Enhance your open plan living area’s appeal, potential buyers look for elements like soft textures,natural materials, and neutral colour schemes when considering purchasing properties with this type of design aesthetic.
Creating Off-Street Parking Solutions
Adding off-street parking solutions in areas with limited parking can boost your property’s value by up to 13%. This could mean transforming your front garden into a designated parking space or constructing a driveway. It is important to note that certain legal requirements must be met before proceeding, such as obtaining permission for curb drops and building the necessary facilities. The costs involved may vary depending on factors like location and type of parking area, but the potential increase in property value and convenience make it a worthwhile investment.
Improving energy efficiency and heating systems
In today’s environmentally conscious society, it is becoming increasingly important for potential buyers to consider a property’s energy efficiency. Upgrading the heating system, radiators or adding underfloor heating can not only improve your property’s Energy Performance Certificate (EPC) rating, but also increase its value.
There are affordable ways to boost your home’s energy efficiency, such as using LED lighting, enhancing insulation and sealing air leaks. Utilising window treatments can help reduce heat gain from sunlight.
Not only will these upgrades lower your monthly utility bills, they can make your house more desirable for both estate agents and prospective buyers alike.
Investing in garden offices
As the demand for remote work continues to rise, garden offices have become increasingly favoured. These freestanding structures in your garden provide a designated workspace away from your main house and can enhance the overall value of your property. The cost of a typical garden office ranges between £5,000 and £20,000 depending on its size and specific features.
When planning for a garden office project, it’s important to consider various material options such as solid wood, cedar cladding or different roofing materials that are available. Keep in mind the design aspect of the office space (whether you prefer something simple and minimalistic or more lively and motivating), as these elements play an essential role not only in increasing home value but also improving work-life balance through dedicated working space within close proximity to nature.
Budget-friendly home improvement tips
While some home improvements can come with a high price tag, there are also plenty of affordable alternatives that can increase the value of your property. Simple measures such as updating décor, decluttering, and enhancing energy efficiency can make a notable impact.
Obtaining planning permission beforehand is another budget-friendly option for potentially increasing your property’s value in the future. Remember to keep in mind that even small changes over time can add up and gradually raise your property’s value without breaking the bank.
Addressing structural issues and defects
Prior to starting a home improvement project, it is vital to address any underlying structural issues and defects. These may include various types of damage such as cracks in walls or foundation, water damage, and roofing problems. Neglecting these issues can lead to decreased property value and compromise the effectiveness of aesthetic improvements.
It is advisable to seek assistance from professionals who can identify and resolve these problems effectively. While it might seem like an additional expense initially, this step can ultimately save money by preventing costly repairs in the future.
Store your items with HOLD while you upgrade your home
We’ve covered a wide range of home improvements, from loft conversions and kitchen upgrades to energy efficiency enhancements and garden offices. Each of these improvements has the potential to boost your property’s value, whether you’re planning to sell soon or just want to make the most of your investment.
Remember, while some improvements require a significant investment, others are more budget-friendly. Also, don’t overlook the importance of addressing any structural issues before undertaking cosmetic upgrades. With careful planning and strategic investments, you can significantly increase your property’s value and appeal to potential buyers.
Oh, and another thing: while you focus on renovation, you're going to need a reliable storage solution. That's where we come in. If you're based in the London area, and need large storage units for your furniture, or secure, short-term solutions for your precious possessions (or any other storage requirement), we've got you covered. Contact us today to see how we can help.
Frequently Asked Questions
What is classed as home improvements?
Home improvements encompass a wide range of tasks that involve modifying the structure and appearance of a home, as well as its outdoor areas. This includes both major construction projects such as building extensions or adding new features like gazebos and garages, along with regular maintenance, repairs, and general upkeep activities. The term also covers enhancements to gardens and lawns surrounding the house.
What renovations add the most value to a home UK?
The top home renovations in the UK that have a high impact on its value include installing a new kitchen, adding an extension, converting spaces like garages and lofts into livable areas, improving energy efficiency measures, dividing the property into multiple units for rent or sale, creating open plan living spaces, enhancing outdoor areas such as gardens and thoroughly cleaning. These upgrades are known to significantly increase the value of a property.
How much does it typically cost to install a new bathroom?
The installation of a new bathroom typically ranges from £4,000 to £6,000 in cost.
Do I need to use a storage company when renovating my home?
It totally depends on the project, but it is highly recommended to use a storage company when doing a renovation to your home. This is due to lots of dust and dirt being created during the renovation so to keep your belongings clean and safe, you can store them locally. Storage companies such as HOLD Self Storage offer specific short term storage solutions for renovation projects to help with your work.