Regardless of whether or not you’re considering moving house in the near future, it’s always a positive thing to ensure your home is worth as much as possible. You surely want to get the most out of it after all. But there are several ways to add value to your home, some far more cost-efficient than others.
Before embarking on any home improvement projects, however, it’s crucial to understand your home’s current market value. Knowing this baseline allows you to make more informed decisions about which improvements will provide the best return on investment. Because when it comes to home improvements, ROI is everything!
You could get a professional appraisal or consult online real estate platforms to estimate your home’s value. If you don’t want to go that far, you could even use free online valuation tools, such as those offered by Zoopla, to give you a rough ballpark estimate of what your home might be worth. This initial step will guide your planning and ensure that your efforts align with market expectations, ultimately helping you maximise your home’s worth.
Top 7 ways to add value to your property
Once you know your home’s current value, you can explore various ways to increase it. Here are some effective strategies, ranging from small updates to larger (and more expensive) renovations:
1. Redecorate
Cost: £1,000 – £5,000
Value Added: Up to 10%
Fresh paint, updated fixtures, and modern decor can make a significant impact and won’t cost you that much either. Neutral colours and contemporary finishes appeal to a broad range of buyers, making your home more attractive.
2. Create an Open Plan Space
Cost: £3,500 – £10,000
Value Added: Up to 15%
Removing non-structural walls to create an open plan living area can make your home feel larger and more modern. This layout is highly desirable and can significantly boost your home’s value, particularly among young families.
3. Create Off Street Parking
Cost: £10,000 – £20,000
Value Added: Up to 10%
Adding a driveway or garage can be a major selling point, especially in urban areas where parking is limited. If you’re going this route, however, always ensure you comply with local regulations and obtain necessary permits, or you could find yourself on the receiving end of a very nasty fine.
4. Add Fitted Storage
Cost: £1,500 – £5,000
Value Added: Up to 5%
Built-in fitted wardrobes, shelving, and other storage solutions help keep spaces organised and clutter-free. Custom storage options make your home more functional and appealing by keeping everything that’s meant to be stored away out of sight and out of mind.
5. Add a Garden Room
Cost: £5,000 – £20,000
Value Added: Up to 10%
A garden room/conservatory or home office can provide valuable extra living space and open up the rest of the home to more light too. This is particularly attractive in the current climate, where many people work from home in the wake of the pandemic.
6. Invest in a New Kitchen
Cost: £10,000 – £50,000
Value Added: Up to 20%
Kitchens are the heart of the home, and we all know heart health is important! Modern appliances, quality countertops, and stylish cabinets can dramatically increase your home’s appeal and value and make the kitchen feel like the natural hub it’s destined to be.
7. Spruce Up the Back Garden and Add Outdoor Seating Options
Cost: £1,000 – £10,000
Value Added: Up to 10%
Finally, if you’re going to be spending a lot of time outside, landscaping, decking, and comfortable seating areas can transform an otherwise generic garden into an additional living space packed full of summer BBQ potential.
