5 Renovation Ideas to Add Value to Your Property:
Renovating your house is a quick and efficient way to add value onto your property, whether it’s for personal reasons or to flip the house before putting it on the market. Our home is often our greatest asset, and we should capitalise on that investment. Home improvements, ranging from minor kitchen and bathroom renovations to huge projects such as adding a conservatory or extension can take a huge amount of time and more importantly, a lot of financial dedication. Considering which renovation ideas will work best for your property type, in addition to exploring how much you value you want to add onto your property will make finalising ideas and targets easier and more achievable. If you’re thinking ‘how can I sell my house fast?’, here are 5 renovation ideas that will not only add value onto your property but will help you to get that quick sale so you can have a fresh start!
Idea #1- Renovate Upwards:
To add value to your property, consider a loft conversion, as it’s a safe renovation project that can be carried out relatively easily. Either to be used as an extra bedroom, or bedroom featuring an en suite, converting your loft will immediately move your property up into the next price bracket. A loft bedroom typically adds around 10%- 15% value onto the property, but it is crucial to ensure that commission through a structural survey to be certain that additional weight is properly supported. The overall average cost for adding a staircase leading to the loft, in addition to the bedroom, en suite, window (skylight or dormer) totals at around £25,000- but as previously mentioned, will add immediate value onto your property.
Idea #2- Add a Bathroom:
Perhaps one of the most vital attributes of a property is the bathroom. Often, people find that their bathroom doesn’t have enough space, or that sharing one facility with roommates, or a family means you are often scheduling in time to use the bathroom peacefully. Adding a bathroom to your property not only increases property value of around 8.7%, but presents a cleaner and more organised space- as opposed to having products and belongings taking up the majority of space.
Idea #3- Converting the Garage:
The days of using a garage for its intended purposes are long gone. The space is typically used as additional storage or converted into a home gym, or even a spare bedroom with an en suite, which would make it more accessible for those who live with physical restrictions. Garage conversions are usually an obvious choice when it comes to cost-effectively renovating your home, and the function of the extra space could add an extra 14% to the value of your property.
Idea #4- Open Plan Living:
Complying with building regulations, investing in an open plan renovation is a great way to add value onto your property and create a property layout that works for you and your family- whether that is right now, in the future, or prospect buyers. Open plan living is universally appealing but making a profit will depend on the area you live in and the size of your property, in addition to the style, design and finish of the renovation. Creating an open plan living area can potentially add up to 20% onto the property value, making the perfect selling point or if you decide against- you are left with a beautiful open plan design.
Idea #5- A Home Office:
The ongoing pandemic has required most of us to work from home for the last year or so. Bearing this in mind, the demand for in home offices has skyrocketed. Investing in a small extension that can be transformed into a home office can add up to as much as 8.4% to a staggering 27% to the value of your property. The addition of a home office has various appeals, from convenience, to allowing others to begin work in a peaceful area without the everyday commute to work. A small extension typically starts between £16,000-£21,000 yet renovating and adding office furniture to an already existing space is fairly affordable, averaging out at around £450