Whether you’re looking to sell your house and continue your move up the property ladder, or are simply looking to invest in your home for when you do decide to sell, there are a number of different things you can do to add value to your home and increase its worth. Here are some of the most popular ways you can increase the value of your property.
Install Hardwood Flooring
Installing hardwood flooring is one of the most common methods used by people to increase the value of their home. Although installing hardwood flooring is by no means cheap, real hardwood panels can be sanded up to ten times over their lifetime, meaning that hardwood flooring will last for decades to come. Not only does wood flooring look good and last a lifetime, but it really does add value to your home too. A recent survey by the National Wood Flooring Association found that 80% of estate agents surveyed believe that wood flooring can add 1%-10% to the value of your home, with a further 12% of estate agents from the survey agreeing that the added value could be even larger than 10%. Like most additions that will add value to your home, installing wood flooring should be done by a professional – like Just Wood flooring – to ensure that you are truly adding value to your home, rather than creating a costly mistake by attempting to do it yourself.
Convert Your Cellar or Attic (or Both!)
Conversions are another surefire way to add value to your home, as more space equals a higher asking price. On average, loft conversions add 21% value to your home, while a cellar conversion can increase the value of your home by 20% to 30%. Both types of conversion cost roughly the same so which one you choose to convert will depend on whether you have a cellar or not, and the intended function for the space once it has been converted. Loft conversions naturally lend themselves well to additional bedroom space, while cellar conversions allow you to be more flexible. As the cellar runs off from the main living space, you can convert it to a second living room, an office, a laundry room, or even a self-contained living space if your garden allows can accommodate a separate entrance.
Remodel Your Bathroom
An outdated bathroom is one of the biggest turnoffs for potential buyers, with as many as 25% saying they wouldn’t buy a property with an outdated bathroom, and can really drag down the value of your home. This, of course, means that remodelling your bathroom is the perfect way to add some value to your home. In some cases, you don’t even have to remodel your entire bathroom and can update its look by changing out some of the fittings or light fixtures.
Create Off-Street Parking
With many households now owning more than one car, it’s no surprise that creating extra parking space will increase the value of your home. Parking continues to be an issue, particularly in urban areas where street parking is becoming more and more limited, so off-street parking can add anywhere from 5% to 13% to the sale value of your home. Driveways are particularly popular with buyers as they provide a useful alternative to front gardens that require maintenance and often don’t get used, so adding one to your property will be sure to increase its value. Keep in mind that if you are adding off-road parking, you’ll need to apply to your local council for permission to drop the kerb in front of your property.