Home improvements that will bag you the biggest profits!
Whether you’ve just moved into a fixer upper, need more space for the family or are trying to get up on the property ladder, you’ll probably be asking the same question. What are the best ways to add value to your home?
Making improvements to your home - there are plenty of options. You could fit a new kitchen, add a conservatory or fit new flooring, for example. BUT not every major renovation is made equal. Some will see a bigger increase on a property’s value than others – and it’s not always about how much you spend, either.
Add a bathroom or en-suite
Find room for an en-suite or extra bathroom, and you’ll see a good return on your money.
Renovate your fireplaces
Adding a wood burner could make your home much more saleable. You could even choose the new generation, self lighting models which can make your home look and feel super cozy.
Painting and decorating
Applying a fresh coat of paint or papering the walls is one of the most cost-effective ways to add value. You probably don’t need us to tell you that neutral palette will have the broadest appeal to buyers. Sometimes a feature wall can add value but with painting and decorating, it all comes down to the buyers taste, the more neutral the better. Damp proofing your home is a massive appeal.
Update your central heating
A modern system will be a must for most homeowners. If your boiler is more than 15 years old, consider replacing it. Installing a new boiler or central heating system are two of the most profitable home improvements in the UK.
Make external repairs
Potential external issues can be extremely off-putting to house hunters. Painting render and addressing any repointing that may need doing will put their minds at ease. Even small details like a creaking garden gate shouldn’t be overlooked. As well as the garden, the exterior of your property is one of the first things a buyer will see. Dirty windows, chipped doorframes or broken roof tiles can all leave a bad impression and affect the price you get. Spending a bit of time painting and fixing any cracks outside as well as cleaning up could make a big difference.
Convert the loft
A popular project at the moment, and one that has the potential to make you a bundle of cash when you sell. However, every project is different, and extra structural work like adding dormer windows or raising the height of the roof will eat into any profit.
Improving energy saving measures
This is an easy win, especially for older homes, as you might be eligible for a Government grant to make improvements. Typical ways to boost energy efficiency are to install double glazing, add cavity wall insulation, or fit solar panels and generate your own power. Improving the green credentials of a house usually pays - a new boiler, insulation or energy saving measure along with security improvements.
Converting the garage
Sacrificing your garage for living space comes out on top when it comes to profitable home improvements. If you’ve been using yours as a dumping ground, converting it is a no-brainer. Just remember, though, if your garage is currently home to an actual car, permanently parking it on a driveway or the road might increase your insurance premium.
If you would like to discuss how you can add value to your home, or if you are thinking of buying a property to "do up", invite us to take a look and we can tell you exactly what you can do to make a profit.
Thanks for reading!
Take care,
The Alexanders Team.