Doing minor improvements and repairs in your home are the best ways to prevent the value of your home from deteriorating. This is especially important if you see yourself selling your house in the future. Making improvements on your property can positively impact your quality of life and that of the people living in your home. So, it is not just about improving its market value.
Before you pour money into a home improvement project, you need to calculate what returns the home improvements have a potential of bringing. According to the office of national statistics, over thirty billion pounds is spent every year on home improvements in the UK. This translates to more than forty-three million pounds each week.
Here is a list of top home improvement ideas that give the best returns on investment.
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Increasing the square footage in your home will add value to your property. One way to do this is by adding a single-storey extension for a dining area or kitchen which does not require planning permission. This will cost at least twenty thousand pounds and will add an 11% value on your property. This translates to about thirty-three thousand pounds on average.
Adding an extra bedroom
Adding a spare bedroom in your home can boost the value of the property by up to five percent, which is almost fifteen thousand pounds on average. Adding an en suite bedroom can increase comfort in your home. The cost of this home improvement is between twenty-five hundred pounds and six thousand pounds. Consider going for affordable quality and what may appeal to a potential buyer in the future.
Very few floor installation last a lifetime without the need to be changed. Even if you think your floors are not worn out yet, they can look outdated, and this affects the property value. Updating your house floors can make your home look more desirable without costing a fortune. There are numerous DIY options available in the market.
Open plan living spaces
Home buyers still find open plan living spaces appealing. A lot of people are drawn to an open plan kitchen, which is becoming a must feature in any property. Typically, remodeling your kitchen to open plan can cost an average of eight thousand pounds and adds a six percent value to your property. This translates to at least eighteen thousand pounds in property value.
Adding a conservatory
Glasshouses are slowly becoming cool features in a property. For a conservatory to improve the value of your home, it needs to be built with quality glass material. Avoid building it with PVC as this makes the house feel dated. The conservatory has to allow natural light in if you want the value added to be significant.
When done right, this home improvement can cost between four thousand pounds and ten thousand pounds. It increases the market value of the property by five percent, translating to fifteen thousand pounds on average.
With this guide, you will be able to decide which home improvement are ideal for our home in term of value addition. This way, you will avoid turning your home into a money pit with no hope of getting any returns on the investment.