While you may not be planning to sell your property in the near future, it can still be beneficial to find ways to increase its value when the time does come to move on.
Renovating or redecorating your house to add value can be done in increments during the years spent living on the property. Once you have accomplished your goals, you can be satisfied with the knowledge that you have made some significant positive changes during your time there. This effort and innovation will be rewarded when you do eventually decide to put it on the market and move on to pastures new.
Keen to discover some of the most effective ways to boost the value of your home? Read on!
- Tackle Any Structural Defects
The first and most important change you should make to your property if you want to increase its value is fixing any structural damage it may have incurred over the years. After all, there’s no point in giving your home a fresh lick of paint and spending a lot of money making various cosmetic improvements if the foundations of the home are defective in any way. Buyers will be looking, first and foremost, for a property that is structurally sound and safe.
Here are some of the major structural problems that commonly affect homes and which can serve to lower their market value, sometimes substantially.
- Rising damp.
- Collapsing floors.
- Buckling walls.
- Rotten timbers.
- Missing roof tiles.
- Pest infestation.
If your property has any of these defects or is beginning to show any signs of them, it’s important to tackle the problem right away before the issue becomes too severe.
- Improve Its Energy Efficiency
These days, energy efficiency and being able to save money on energy bills have seemingly never been so important. As a result, another effective way to add value to your home is to do what you can to make it more energy efficient. For example, installing solar systems will reduce your electric bills and increase the value of your home, as lots of homes in Fort Lauderdale have done.
There are a number of ways to go about this, but the precise measures you take will depend on the condition of your home, the areas in which it is not energy efficient enough – and will take into account your budget for renovations.
One of the best ways to improve efficiency is to update the heating system. This could involve replacing a boiler, installing a heat pump, or adding new radiators and perhaps even underfloor heating. You can also add more insulation, both inside the walls and in the loft, which is where up to a quarter of your home’s heat can escape.
- Consider Converting Your Loft
If your property has a spacious loft that isn’t being used for much besides storing old family possessions, dust, and spiders, then why not add value and appeal to your home by investing in a loft conversion?
If you have the budget for this kind of work, you can add up to 21% of your home’s original price, which should help you recoup any costs involved in the construction – and then some. Whether you choose to transform your loft into an additional bedroom, a bright, airy lounge space, or perhaps a gaming and entertainment room, adding some extra living space to your property can make a huge difference. In fact, you may enjoy your new loft so much that you decide you don’t want to sell your home after all!
- Construct A Garden Room
Creating additional living space to add value doesn’t have to involve altering your actual home. You can opt to extend your accommodation by building another room in the garden instead. This is a particularly rewarding proposition if you have a large and appealing garden to make use of, providing plenty of stunning views from the new room – however, there is no reason why smaller outdoor spaces can’t also benefit from this kind of addition.
Of course, before you start poring over garden room brochures and how you will use your new outdoor living space, you need to seriously consider the cost of this kind of update. Garden rooms can cost anywhere between £5000 and £20,000 – and that’s for smaller rooms. Larger constructions can cost a great deal more, so you need to make sure you have an ample budget before you commit.
- Install An EV Charging Point
Electric vehicles are becoming much more commonplace on our roads, and over the next few years they will slowly take over, particularly in the wake of new legislation, such as the UK government’s decision to ban the sale of new petrol and diesel cars from 2030 onward.
As a result, even if you don’t currently own an electric car, you may want to consider installing an EV charging point outside your home. You can consider it a strategic investment for the future – and having a handy charging point may just make you inclined to lease or purchase an EV yourself. For more information on leasing an EV, including information on pricing, leasing conditions, and how long it takes to charge an electric car, LV ElectriX has all the answers.
- Replace Your Windows
If your property’s current windows are on the old side, or if they are damaged and allowing heat to escape from your home, then it’s vital that you have them replaced with double-glazed windows – or perhaps even triple-glazed.
Not only will your new and more energy-efficient windows add instant value to the property, but they are required by Building Regulations. In addition, having them added will also help you find buyers when it comes time to sell, as double glazing is considered a must-have.
When it comes to the type of windows you decide to install, this will depend on your requirements and whether or not your home is a listed property. Your options include uPVC, aluminium, vinyl, stained hardwood, and timber.
- Modernise The Kitchen
An eye-catching and thoughtfully designed kitchen is considered an essential feature by buyers these days – and will also be taken into account by your surveyor when they come to calculate the sale value of your property. If the heart of your home currently consists of a shabby, damaged, or outdated kitchen then you will definitely need to embark on some renovations, whether minor or substantial.
Of course, if your kitchen is in relatively good working order, there is no need to throw away large sums of money on replacing it. Take a good, hard look at the space and see where some modernisation and attractive updates can be made that won’t cost you the earth. Whether it’s giving it a fresh coat of paint, installing new cabinets or a worktop, or simply changing the splashbacks or flooring tiles, some minor but effective changes can make the world of difference.
- Spruce Up The Exterior
Once you have completed any essential structural changes and interior redecoration it’s time to take a look at the outside of your property. After all, this is the first sight buyers will see – and there’s no point transforming the interior into a sparkling modern oasis if the exterior remains dull, dirty, and generally unappealing.
There are a number of ways to fix up your home’s exterior to make it sturdier and more attractive. These include:
- Repairing cracks in the render or cladding.
- Repainting walls, doors and window frames.
- Replacing a shabby garage door.
- Adding a new porch.
- Erecting trellises for climbing plants such as roses, clematis, or wisteria.
- Adding a decorative house name or number.
Depending on your budget, you may even want to go a step further and add new cladding or even improve the roof. However, if your funds are more limited, then the simple steps mentioned above will help to transform the look and feel of your home, adding to the value and making it more likely to appeal to future buyers.