If you’re preparing your home for sale, there are certain improvements that are definitely worth their cost in helping you sell your residence faster and at a higher price. Here are our top 5 home improvements that will boost your home value.
Increase in your floor area – Did you know that a 10% increase in your floor area will increase the value of your property by 5%? A simple calculation is to use the average pound per square meter price of properties in your area and compare this with the cost of extending on the same £/sqm basis.
Extra bathroom – Either way, a new bathroom can freshen a home’s interior and raise its overall value. An extra bathroom will add up to 5% in value to your residence. The average cost of a new bathroom in UK is around £3,000, but this can vary hugely depending on whether you are starting from scratch and the level of luxury you want. Converting your large storage space into an extra bathroom would not only increase the value of your home, but its desirability and marketability as well.
Extra bedroom – Creating an extra bedroom will add up to 11% to your property value. For example, a four-bedroom house will command a higher price than a three-bedroom, even if they’re both the same size. So you definitely should consider this. The average cost of a new bedroom is £2500 – £6,000 depending on the size of the room and the materials that will be used.
Loft conversion – A loft conversion offers you a fantastic way to add space and value to your home without the considerable expense of digging down into the basement. A loft conversion is often cited in surveys as the best way to add value to your home, it can add up to 21% to the value of your property. If you’re looking at a house valued at £250,000, that’s an increase of up to £50,000.
Basement Conversion – If you don’t have a loft to convert, using your basement is one of the best ways to increase your usable area without altering the exterior of your property. Yes, digging down can be expensive, but it’s definitely worth considering. Depending on the property location and value, converting your basement might actually be a very solid financial decision.
#Flattrotip: Hire a professional. Adding a room, renovating a property, or doing some much-needed repairs might require hiring an architect, designer or builder depending on the size of the project. Invite a realtor or an interior designer over to check out your home. Even small suggested improvements, such as paint colors can go a long way toward improving the look and value of your home.
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