In this article, we’re sharing some property renovation trends that could increase the value of your home in 2023.
As we put the winter behind us, Farnborough solicitors and estate agents in surrounding areas are suggesting there has been an uptick in people looking to put their homes up for sale. Recently revealed figures from February show that house prices in the UK have fallen by about 4% following the rise which lasted between 2020 and 2022.
For homeowners who are looking to sell, this means doing everything possible to increase the value of their home and, in this article, we’ll be sharing the property renovation trends that could increase the value of your home this year.
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Property Renovation Trends to Increase Your Property Value
Whilst there are plenty of trends to keep up with in 2023, we’ve narrowed down the best one that could help add value to your home.
Stone Veneer Exteriors
A major home trend for 2023 is that of stone veneer for exteriors. As well as helping to cover up any imperfections and drab aesthetics of your exterior walls, stone veneer can add a touch of charm to your home which can add an enormous appeal for potential buyers.
Depending on the size of your home – and the type of stone that you choose, exterior stone cladding for an average three-bedroom home will cost you between £1950 and £3000 but can add significant value to your house.
Sage Green, Cobalt and Teal Paint
One of the easiest – and cheapest – ways of hitting refresh on your home and increasing its value is by updating your paintwork. If you’re able to do this yourself, it’s usually inexpensive and can really make a difference when it comes to valuing your home.
Contrary to popular belief, you don’t need to stick to white or beige walls in order to woo buyers – for 2023, some great colour trends for walls include sage green, cobalt and teal.
Renovating The Kitchen
When viewing a potential new home, buyers will pay close attention to the kitchen as few will welcome the extra cost of refitting it themselves. A brand-new kitchen will usually be a great investment when selling your home but if your budget doesn’t quite stretch to a refit, there are a few things you can consider including:
- Refacing – There are a lot of companies out there who can refresh your kitchen by replacing cabinet doors, worktops, drawer fronts and fixtures, giving you a new look kitchen for a fraction of the price and with minimum fuss and disruption.
- Preloved – Shop around for second-hand or refurbished units and worktops to help your budget stretch a little further.
For 2023, kitchen islands are a major trend and so installing one of these (space permitting) could really give your home’s value a boost.
Adding Eco-Friendly Features
A great number of house buyers are proactively looking for eco-friendly homes and so you can potentially add big bucks to the value of your home by ramping up on the eco-friendly features, including:
- Replacing boilers / central heating with more efficient versions
- Installing water-saving features
- Installing electric vehicle charging points
Adding An Extra Room
Since the COVID-19 pandemic, a lot of people are choosing to spend more time at home, to work, to socialise and spend down time at the weekends. As a result, buyers are looking for bonus space. Adding a conservatory or loft conversion to your home is a surefire way of boosting its value. However, these can be pricey so you will need to do your sums to figure out if the return will be worth the investment.
Create A Sun Trap
A garden of any kind is an asset to a home but particularly one which has a south-facing aspect. If you’re not lucky enough to have a south-facing garden, you can create a little bit of a sunshine cheat by creating a seating area in the sunniest part of your garden to accentuate it.
It’s estimated that a south-facing garden can fetch up to 10% more in value and if you’re unconvinced by the importance of this, Yorkshire estate agent, David Phillip, says, ‘Without a doubt we’ve seen huge demand for homes with a south facing garden.
You’d be amazed at how many people turn up to a viewing and use the compass on their phone to work out where the sun is coming from’. While you’re creating your sun trap you will also, of course, need to make sure that the rest of your garden is neat and tidy too.
Scandinavian Style Décor
Scandinavian style décor focuses on simplicity and functionality, which is proving to be a popular trend this year. Traditionally, this kind of decor would utilise cool blonde furniture but don’t be afraid to put your own stamp on this hugely popular trend.
As well as looking beautiful, this minimalist decor style gives the illusion of space and allows potential buyers to picture themselves in the home – as well as encouraging you and your family to have that long overdue clear out.
Increasing The Value Of Your Home In 2023…
Most sellers are keen to get as much for their home as they possibly can and, while some of the tips mentioned in this article will require a significant financial investment, there are others such as painting walls and getting your garden ready for its close-up which will allow you to boost the value of your home without breaking the bank.