Discover how to add value to your home with our handy and useful guide on what adds value to a house in the current UK market.
One of the tricks behind nailing the property ladder is to make sure you sell on your home for more than you originally paid for it; be that in real terms or actual cash, it just makes sense to get some money back on your investment. So how do you figure out how much your property is worth? And what are the best ways to boost your chances of a profitable sale? Well, to help you get started, we have come up with the following guide on how to add value to your property.
What is my Property Worth?
Before you start investing more money into your home (or asking yourself random questions like “how much does a loft conversion add to my property?”), it is always a good idea to get a ballpark figure for how much the property is actually worth. The best way to do this is to hire an estate agents to carry out a full valuation – they will come round and conduct a complete and thorough inspection of the property, making sure they look over everything from the number of rooms and the current fixtures and fittings to the building’s structural integrity, and it’s capacity for home improvement and developments.
Alternatively, you can also hire a quantity surveyor to carry out part of the inspection in advance. These surveyors specialise more in the building and its energy performance than the local area or neighbourhood, but a completed report and/or energy performance certificate can help your chosen estate agents to compile a more thorough valuation in the long run.
Adding Value to your Home: A step-by-step Guide
Once the valuation is complete, it is time to step up your game and boost your property’s worth. To help you figure out how to add value to your house, we have compiled the following list of extensive changes and developments you can make to your property, most of which require some degree of professional involvement – so be prepared to hire some contractors along the way as part of your budgeted investment plans.
You can add value to your property by…
- Building a brand new home extension at the side or rear of your property. Walled additions can add a lot of value to the home, but integrated, open-plan extensions are usually more lucrative in the current housing market.
- Carrying out a major kitchen refurbishment and installing brand new appliances, such as a 6-burn oven, fridge-freezer (with integrated ice dispenser), a dishwasher and a kitchen island unit.
- Fitting a new bathroom, including updating any old or outdated fixtures of fittings, having the plumbing upgraded and installing a brand new power shower.
- Installing a new central heating boiler, preferably a combi-boiler with an easy-to-operate control panel and combined thermostat, and as many special features as you can get – from remote control operation to discounted replacement radiator units.
- Fitting solar panels on the roof of your property, and rewiring the electrics so you can use the electricity you generate and sell any extra back to the National Grid.
- Installing a brand new conservatory. Ornate Edwardian or Victorian designs usually add more value, but even a u-PVC lean-to model will create extra light and space in your home.
- Seeing if basement or cellar conversions are a viable option to gaining an extra room in the home.
- Installing decking in the garden, or by getting a professional to lay a patio directly outside of your home.
- Sprucing up your outside space by carrying out any other garden work that needs immediate attention – such as hiring a tree surgeon to prune trees, shrubs and hedges and tidy up bushes and brambles that make the place look neat and untidy.
Obviously you might be hard-stretched to find the money to afford all of these home improvements – but just a couple expertly finished can do wonders for boosting the final value of your home.