Every so often a little makeover does us all good, and this is also the case for our homes. Marylebone estate agent Kubie Gold says, “Over time even the best loved houses can look tired and dull, and even a simple lick of paint can go a long way in terms of giving your new lease of life”. So what are the best home improvements?
If you’re looking for a little more than just a simple cosmetic touch up and are serious about adding value to your home, here are the top five money spinning home improvements.
So What are the Best Home Improvements?
An extension means different things to different people, depending on available space and budget. An additional room can add a few thousand, while a full two story extension can double the value of your home. Expect to pay between £1,200 and £1,500 per square foot.
A new bedroom can add between 9% and 10% to the value of your home, and loft conversions continue to be one of the most popular home improvement options in the UK. Loft rooms featuring Velux windows are always in high demand, but make sure the conversion doesn’t eat into your overall living space. Plaza Estates points out, “Loft conversions aren’t cheap- you can usually expect to pay anything from £15,000 to over £40,00 depending on the size and location, but they can add significant value”. An average conversion can give you an extra 21% to play with.
You’ll be hard pushed to find a buyer who’s excited by a chocolate brown 1970s bathroom suite, so if your most private room is a little outdated it’s always worth investing in a new one before you sell. A good new bathroom can add up to 6% of your home’s value, and since you can find a good looking one for as little as £3,000 it’s well worth the investment.
The hub of many a home, a kitchen is one of those rooms that can make or break a sale. Open plan kitchens have seen a big revival over the past five years so are number a major box ticker for lots of millennials. Even if you’re not able to go for a complete restructure and refit you can expect a shiny new kitchen with good quality fixtures and fittings to add about 6% to tour home’s value. Expect to pay about £8k for a new kitchen.
Bringing the indoors outside has been big news in design recently, so if you’re keen on opening up some extra living space you can’t go far wrong with a conservatory. Be prepared to give up some of your garden space, but with some careful planning and design skills this doesn’t have to mean a problem. A new conservatory can add 5% to the value of your property and costs between £4,000 and £10,000.
When it comes to the best home improvements, as Eden Harper summarises, “Investing in some good quality home improvements can make a huge difference to your home’s value and saleability. Go for the best quality you can afford and choose reputable tradespeople to undertake the work.”