Whether you are staying in your home for the long haul or planning to move on elsewhere, improving your property is always a wise idea. Not only can it make your living space a more desirable place to be, but it can also make a house more appealing to a prospective buyer. But if you are planning to improve your property, knowing the best way to invest your money is important.
Moving Up
Loft conversions are a popular if expensive way of adding value to a property. A qualified and experienced builder will be able to assess whether your home is suitable for such a structural makeover, but experts suggest that the space is best used as an extra bedroom or a master suite complete with bathroom. The cost can be high, so looking at home improvement loans such as the ones on offer from Evolution Money would be a wise idea if you are considering such a change.
Room for One More
Speaking of extra bedrooms, estate agents agree that adding one can add more than 10% to the value of a property. Of course, your home must be proportioned properly for any planned changes. A shoebox-sized bedroom will be more likely to deter than entice potential buyers.
Modernise Your Bathroom
For many prospective home buyers, a clean and modern bathroom is an absolute essential. This is actually a relatively affordable home improvement, but one that is essential if your bathroom has started to look a little dated and worn. In addition to this, older property owners could consider investigating secured loans as a way of funding the installation of an en suite in the master bedroom. Almost all new properties are built with these as a standard, so if you are planning on competing in the housing market, an en suite becomes a must-have feature.
A Kitchen Fit for a King
They are increasingly considered the heart of the home, and prospective buyers expect high-quality kitchens that are both fun and functional. However, if you are considering a kitchen refit, make sure you pick one that is suitable for both your property and the ceiling price of homes in the area. After all, there is no point splashing out on a £30,000 kitchen if it will not add a significant amount of value to your home.
Taking Care of the Car
It will not be possible for all properties in all areas, but if you can create a parking space or garage, it will be looked on favourably by house hunters. This will be most applicable to properties in locations popular with families, and experts suggest it can add around 11% to the overall value of a property. Of course, if you are planning to stay in your home for the foreseeable future, it will have a positive impact on your insurance premiums.
To Build or Not to Build
One of the most obvious but ambitious ways to add value to your home is by adding an extension of some sort. It could be creating extra space at the expense of the garden or building out over the garage, but either way the addition of extra square footage would normally be expected to translate positively into a higher asking price. The best extensions work with the existing space and style of the home, so using an experienced and knowledgeable builder is vital. It is worth noting as well that extending your home can be a lengthy process, so you must be prepared for potential disruption.
Whatever you choose to do when it comes to improving your home, getting your finances in order first is essential. If you plan properly and prepare well, you can add significant value when it comes to moving on.
If you’re looking for the best “bang for buck” renovation items, nothing beats a new coat of paint and new carpet. They’re not prohibitively expensive, but can add serious dollars to the value of the home.
Mr Ikonz @ Project Ikonz recently posted…Peer to peer lending in Australia – it’s finally arrived!
We’re planning a kitchen overhaul. It’s an old setting, the furniture is not as good as it was, same for the appliances. We’ll have a new set, granite coutertops (which will probably cost as much as the entire furniture :D) and some new appliances. We’d need this to also organize space better, since it’s pretty hectic now.
dojo recently posted…Home Appraisal Tips for Refinancing
A remodeling project can make your home more comfortable and enjoyable. Improving the layout of your home can make your home more usable and enjoyable.
By doing some remodeling on your house, you create a more organized and spacious space for you and your family.
Kitchen offer great return value and there’s nothing more exciting than having a brand new kitchen. Thanks for the great ideas!
Improving the layout of your home can make your home more usable and enjoyable.
I agree with all the suggestions. When we decided to sell our home, we invested on improving it first before selling it. We increased the value to up to 50% more or the original price.