There is no doubt that improving your home can increase its value and make it more appealing to potential buyers. But some renovation projects are better investments than others. So before deciding which renovations to make, the first step is to get a free property valuation and detailed breakdown from a reputable agency such as Spring. Then you’ll have a clearer picture of the areas that could benefit from an upgrade.
However, home renovations can be disruptive, costly and time-consuming. If you are looking to sell your home quickly, an alternative approach may be to take advantage of a sell house fast service. That said, here are the renovations that can provide the highest increase in the value of homes around the UK:
Converting a cellar
Transforming an existing basement or cellar into a living area or utility is one of the most straightforward home improvement projects and offers a return on investment of up to 30%. Unless you are making structural changes, or doing a London basement construction you won’t need planning permission. No cellar? Excavating a basement is a more expensive and complex project that is increasingly popular in areas with high property values.
Dividing a house into flats
In cities such as London, Bath or Edinburgh, where there is a high demand for apartments, splitting a house into separate flats can increase the property’s overall value by around 30%. Research the local property market carefully to determine whether there is greater demand for apartments with one, two or three bedrooms.
Convert the garage
Today, very few garages are used to house the car, so converting it into a living area could be worthwhile if yours is currently just a storage space. In many cases, the work required will be classed as permitted development, so planning permission is unlikely to be required. A garage conversion can add up to 15% to the value of your home.
A side-return extension
Need more living space? Gaining a roomier kitchen by adding a side return extension is a popular home improvement in semi-detached or end-terrace houses. An extension of this kind is a considerable investment that can increase your selling price by as much as 15%. It also allows you to improve the kitchen layout, making the property more attractive to purchasers.
A loft conversion
Converting the loft to give an extra bedroom could add up to 15% to your home’s value, especially if you include an en-suite bathroom. A loft room can also be a fantastic place for an office, gym or TV room. The cheapest option is to install roof lights, while a mansard loft conversion needs more structural work and is more expensive.
Kerb (and garden) appeal
With people increasingly working from home, a garden is a great selling point, so make the most of yours. An attractive garden can add up to 10% to the value of your home. Tidy up any overhanging shrubs, mow the lawn and add a patio or deck to create a stylish area for entertaining. And don’t underestimate the power of kerb appeal: paint your front door, polish the ironmongery and add some flowers or plants in pots to give a welcoming first impression.
Upgrade the bathroom
A new bathroom can increase the value of your home by around 5%, but it can be a costly investment. Luckily, there are ways to update it without breaking your budget. Keeping the same layout as moving the sanitaryware will add to the plumbing costs. Concealed or wall hung sinks and toilets are more expensive, so look out for floor-mounted versions. And keep an eye on the sales where you can often grab a bargain.
An open plan living area
Knocking down the wall between the living area and the kitchen is much less expensive than extending and can potentially add up to 5% to your property’s value. Of course, if the wall is load-bearing, it’s a job for the experts. If not, it could be a DIY project that gives you the extra space you need.