7 Home Renovations That Increase The Value At Resale
If you dwell on the idea of whether it’s time to sell and upgrade your housing with another available property, or you want to invest your hard-earned money to improve your existing household – this is the perfect article for you. Speaking of the housing market, prices vary depending on the area you’re looking into. Still, the UK is among the most expensive countries if you want to buy real estate. So, as the market is floating in uncertainty because of the global pandemic, we strongly recommend you invest in your own home and wait for better times to sell and buy real estate. As buying new property gets more and more expensive, remodelling is the smartest move when it comes to investing in something that will improve the life of you and your loved ones.
Although you can not return every pound you’ll eventually put into your home improvement, if you make the right choices while renovating, your investment could be rewarding once you decide to sell for good. After all, walls get worn out and change their colour, or perhaps the roof needs a little improvement. Maybe your kids aren’t kids anymore and they need separate rooms. Even though the major home renovations might be the most obvious choices to add value to your property, don’t disregard the value that will be added with some basic and easy changes or repairs too. In this article, we’ve compiled a list of home renovations that offer a great return on investment percentage and are truly worth investing in.
If you decide to give your home a total makeover, drywalling should be among the first things to think about. If you are not quite familiar with drywalling, it’s a construction technique using drywall to create walls and ceilings. It’s widely used because it’s easy to install, it is incredibly durable and requires simple repairs when damaged. Drywalling house costs vary depending on the surface you want to cover, but the pricing is more than reasonable considering what you get in return. Even if you are not drywalling the whole place, it can be a great choice when it comes to dividing your big room into two separate rooms or using it for extensions which might boost your home value up to 11%.
#2 Loft Conversion
Perhaps your house has a loft that’s piled up with junk and rarely used home appliances? You might consider converting your loft into a beautiful bedroom, or an extra bathroom, or in any type of room, that you and your family desperately need. Converting your loft into an additional room can add up to 15% to your household. Another win-win with loft conversions is that you won’t need any additional permits from the local authorities to use the loft as an extra room in your house.
#3 Update The Bathroom
The most important rooms that add the most value if remodelled are the bathroom and the kitchen. Whether it needs to be renovated from scratch which means it will be a bigger investment or it needs just a little update, redoing your bathroom will add value to your home up to 3-5%. If you need to renovate the shower area, you can go for an exposed and open one because it’s trendy and way easier for cleaning and maintenance. For instance, this kind of upgrade isn’t expensive since it requires only a shower glass and the bathroom will look much more extravagant and stylish.
#4 Update Your Kitchen
As previously mentioned redoing your kitchen along with the bathroom can add a lot of value to every home. Your dream kitchen might be within your grasp even when it doesn’t require major renovations such as flooring replacement or rewiring it from scratch. The most simple way to stay on budget is to repurpose what you already have. Before ripping your space to shreds, think twice, and reuse the elements you already have in a different order.
If your kitchen’s totally outdated, you might have to spend around £10,000 on the instalment of a brand new one. Don’t panic though, when you’ll decide it’s the right time to sell the new kitchen might add around £20-30,000 to the property’s value.
#5 Open-plan living area
Open-plan living areas are very popular and are lovely to live in. You can enjoy it with the ones closest to you since they are spacious and you can never have too many guests if you prefer this kind of a living room. Even if you decide to sell these open-space living rooms are very popular amongst many house hunters.
#6 Garden Makeover
Overgrown gardens won’t add value to your home, even if you are not selling still you and your loved ones won’t be able to enjoy it. Investing in your garden, making sure it is not only attractive and well designed, but also tidy and trimmed can not only add value to your home but will also help a great deal in making it more appealing to everyone who comes to visit. According to statistics, in cities like London particularly, gardens take the least money to tidy up and can add an astonishing 77% to your home value. It seems like investing in your garden isn’t such a bad idea after all.
#7 Remodel Your Basement
Another room that can add significant home value is the basement of your unit. In most cases, the room where you store everything and is not used for anything, in particular, a basement conversion will certainly boost the value of your home. You might use it for an extra bedroom, or an entertainment room, our recommendation is to think about adding a wine cellar. You’ll certainly enjoy it while you use it and you will get compensated for it when you decide to switch homes.
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