It’s worthwhile investing the time, energy, and money to boost your home’s value regardless of whether you’re planning to sell your house in the near future or not. After all, your property is more than just a home; it’s also an investment, one that, managed correctly, can play a big role in securing your financial future. Plus, what’s good for your property’s value is nearly always good for its liveability, too, so you’ll feel the benefit even if selling your house is some ways off.
Not all home improvement tasks will improve your home’s value. In this post, we’ll run through the ones that will nudge it in the right direction, and, as we said above, also just make your house a more enjoyable place to live.
Beautify The Front
If you’re looking for a place to start when it comes to improving the value of your house, look at your front yard. Your home’s curb appeal helps set the tone for the rest of the property, and there can be a big difference between the value of a home with a well-put-together front yard and one that treats its front as an afterthought.
You can hire a landscaper to beautify the front, but you don’t necessarily need to — some plants and a colourful front door will go a long way. And while you’re working on the exterior of your home, spend some time improving your backyard, too. As with the front of your property, a little bit will go a long way.
If you live in a busy area where street parking is hard to come by, then consider adding a driveway too. According to one report, a private parking space can add as much as 12.5% to a property’s value.
Crisp, Clean Paint
We’ll get to some grand ways to increase your home’s value later on, but remember that small improvements can have a big impact too. For instance, don’t underestimate the power of a fresh lick of paint. Actually, any kind of freshening up of your space will work, be it changing the carpets or the wallpaper.
But given how affordable and quick adding a new paint colour is, that often works best. Look at playing around with a few colour schemes and choose one that brings your home into the modern age.
And Don’t Forget the Front of the House
It’s not just the interior part of your home that you should look at painting, either. Many homeowners overlook their property’s exterior paint job, but if you take the time to give this area of your house a refresh, you’ll notice the difference immediately.
One study suggests that painting your home’s exterior can boost a property’s value by 2 – 5%, which is pretty significant given that all you’ll really be doing is adding some paint. However, keep in mind that painting the exterior is not the same as painting the interior, so it will cost more — and you’ll likely need to hire professionals to do the job for you.
Invest In Solar Panels
Potential homeowners are becoming more mindful of a property’s carbon footprint before buying, for two reasons. One, they’re increasingly likely to make decisions based on the impact it has on natural resources. And two, they’re also looking for ways to keep those ever-increasing energy bills down to a minimum.
You can boost your home’s eco-credentials, save yourself money, and make your property more attractive to buyers later down the line by installing solar panels. Solar panels for your home are more affordable than you might think, especially when you factor in savings on energy bills.
Plus, you may be able to generate money with the excess electricity you produce that you don’t use. All of these factors have helped to make solar panels much more popular and make homes that have them more attractive to buyers.
Update Your Kitchen
If you’re planning to give one of your home’s rooms a big update, make it the kitchen. As the heart of the home, it’s one of the major considerations for buyers looking to buy a property. Plus, you get a feel for when a kitchen has become a little outdated, more than you do with other rooms. If your kitchen needs a complete overhaul, then it’ll be quite a big job, but it’ll be worth the time, money, and energy. Studies have shown that a new kitchen can add nearly 20% to a property’s value — and plus, it’ll have you enjoying time in the kitchen much more.
If you’re looking to get the most value from your kitchen efforts, then consider creating an open-plan kitchen. They’re increasingly popular and may just be pound-for-pound one of the best home improvement investments you can make. In London, for example, you could increase the value of your house by £45,000, and since the job of knocking down the wall is only £3,500, that’s a pretty great improvement.
Create More Space
The more living space your property has, the more it’ll be worth — it’s as simple as that! If you have some dead, unused areas of your property, then look at converting them into an office, second living room, or bedroom.
Some of the most commonly unused areas of homes in the UK are attics, garages, and cellars — you’ll get much more use from them once they’re living spaces, rather than just storage spaces, and you’ll see your home’s value creep up too. If you have a large yard, then you may consider adding an extension, too, perhaps in the form of a conservatory.
Install a Downstairs Toilet
It might sound somewhat surprising that adding a downstairs toilet can add value to your home, but it’s true. It’s one of those things that many buyers, including families with young children, older buyers, and people who host parties, often look for. Plus, they’re relatively inexpensive to install. You can add one for around £1,500 and expect to see your home’s value increase by some £20,000.
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