Besides basic structural repairs and focusing on tasks such as fixing your roof, installing a skylight to create the illusion of space with light, changing the flooring and/or carpets, and insulating your loft, there are many other ways to work your way up the property ladder and add some serious value to your home.
Here are some of them worth considering.
Read more after the jump:
1. Turn your Cellar into a Living/Storage Space
Although it may sound complicated, this home improvement project is not as complex as you may think. You could convert your basement or cellar into a beautiful studio or even a small apartment that includes a bedroom, playroom or living room, shower room, and a kitchenette (or more, depending on the floor space). A nice addition would also be a landscaped staircase that could lead from the basement-turned-into-a-living-area to the garden. The same could apply to your extra garage area.
2. Convert the House into Several Flats
With the rise of Airbnb popularity, available flats for rent are hard to find, especially in the downtown London area. So, if you have a house big enough to accommodate your needs and still leave sufficient room for an extra flat or two, why not go for it? That way, you will maximise your income and also boost your profit on sale in the long run. Splitting the house into smaller apartments, though, makes sense if the demand for smaller, single-bedroom units is high in your area. Otherwise, it is not to your best interest to go down that road.
3. Add a Conservatory (or Improve the Existing One)
A conservatory is an excellent way to increase the available living space and feel closer to nature. Plus, it will add value to your property (experts estimate around 10% of potential value added). To get there, you will need to decide the style you prefer, take into account the glazing options and frame materials that best suit your needs and lifestyle, and also ensure its energy efficiency. Now, if you already have one, why not add a tiled roof? Tiled roof conservatories are not only a delight to look at but also come with added benefits due to their handy features that contribute to a pleasurable living, which also translates into more value for your property overall.
4. Update your Kitchen and Bathroom(s)
Upgrading an old kitchen and bathroom is one of the best ways to get the biggest returns on your investment. Given that both kitchens and bathrooms are among the areas with the highest traffic and use, working on giving them a nice facelift will have a colossal impact on your home resale value. You could start by replacing anything old in the kitchen, from appliances and cabinets to flooring.
If you can’t afford new cabinets, you could consider having the existing ones refaced. Adding a new backsplash will also be enough to make your property worth more. You won’t believe how such small projects can change the visual appeal of your kitchen (and what it is worth in the eyes of potential buyers)! As for old flooring, you could revive it with vinyl or tile options. Now, if your countertops are worn out and feel dated (see Formica pieces), swapping them out for granite, quartz or gourmet-style ones will give you a winner. As for bathrooms, try replacing inexpensive elements, such as fixtures, toilets, and vanities and allow your bathroom infuse a spa-like sensation that will be like butter in the bread of future buyers.
Other Ways to Add Value to your Home
Change the light switches – Detail or not, replacing the standard white switches that usually yellow over time and look dirty with new ones that fit the overall design and style of the home is a handy and cost-effective project to work on. You could head to the nearest hardware store and get some yourself and then have an electrician install them in a flash. Now, if you want to make your switches a feature, metal and coloured switch plates are ideal.
Window treatments upgrade – Besides cleaning your windows and keeping them in tip-top shape, preventing dirt from accumulating and affecting the amount of light entering the house, you should ensure your windows are in perfect working condition. Check the latches and replace any cracked panes. A great start to add to the style of a room is to put up a new curtain or Roman blinds made from simple colours and fabrics. They will not only add style and warmth to your interior but also exude luxury.
Landscaping – Boost the appeal of your home with blooming flowers, healthy trees, and well-manicured lawns. Avoid installing gravelscaping or synthetic turf, though, as it will reduce environmental resilience and increase your energy costs. Instead, you could focus on planting native trees that raise the value of your home and the neighbouring properties while also cutting down your energy costs by nearly 50%.
Putting your good foot forward and ensuring you have a well-looked after, structurally sound home will help maximise its current value and enable you to make the most out of such a significant investment. Good luck!
Images – Seaside House in Croatia by Red Moon Design