Renovations: Adding Value to Your Home

December 06, 2019
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by silb
UK
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Renovating your home is not only a great way to spruce things up, but also to add significant value to the final sale price. There are few ways you can renovate your home, with certain areas worth focusing on more if your aim is to add value; the bathroom and the kitchen are a particular focus for buyers, with these rooms often being a significant factor in influencing the final sale price. Here we look at a few ways you can transform your home and boost its value all at the same time:

Starting with the Structure

There’s little point in transforming certain rooms in the home if there are issues with the overall structure of the building. Issues such as leaks, subsidence and mould should all be effectively dealt with before making a start on cosmetic changes. Have a surveyor come over and assess the building to identify areas which need work and then make a list from the most urgent to the least. If the work is too complex to carry out yourself, have tradespeople come out to give a variety of quotes to get the best price.

Rewiring

Rules around the wiring of a home are, for obvious reasons, very strict. Newer laws around wiring mean older homes do not meet modern standards and require updating to be considered safe and compliant. Sockets need to be placed a certain height off the floor and cannot be built into the skirting board. Also, check if the fuse box is old and needs modernising as this can lead to an issue with all the electrics in the home.

Plumbing

Similarly to the wiring, old plumbing in the building not only reduces the value of the home but can also pose a serious health concern. Old pipes are not only more liable to bursting but, if made from lead, can even poison the water. A plumber should be able to check the pipes and assess whether they need to be replaced or cleaned.

Updating the Kitchen and Bathroom

A new bathroom is said to add at least 3-5% to the value of your property, but it can be expensive. Sticking with the current plumbing and layout is the easiest way to keep costs down; simply modernising fittings, changing out the tiles and a lick paint is a relatively inexpensive but effective way to change the overall look of the room.

When it comes to the kitchen, open plan is now a popular choice and can also add 3-5% to the home value. Making the kitchen open plan, however, can be a lot of work and isn’t always possible. Building out a bespoke luxury kitchen to make the best use of the space with modern appliances and a seamless dining area is always popular with buyers. January is a great time to look out for sales where you can get the desired look for just a fraction of the price. 

Loft Conversion

A way to add significant value to your home is to add an extra bedroom; doing so can add almost 15% to the sale price. Loft conversions are an easier way to extend the space in your home and add an extra bedroom. Before you start designing the layout of the room, it’s best to consult with an architect to check if the loft area is suitable and eligible for conversion. Once you have the get-go, try to work to the space available as much as possible to keep costs down and maximise profit.

When launching into renovation work to add value to your home, consider the type of people who would be interested in buying a house like yours and keep them in mind when choosing designs. It’s also worth noting that renovations aren’t guaranteed to add value, so make sure you’re also doing it for you and your family and not just in the hope of making some profit.


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