Property is one of the best investments you can make, so make the most of it. The rule of thumb when it comes to adding value is to utilise what you already have.
Any additions that are too costly might not bring you much of a return when you sell, so work with the space and think how it could be transformed to make it more useful.
Here’s a list of some of the most worthwhile alterations and additions that can add great value to properties. Remember, it’s important to think about who the most likely buyers are and to go for improvements that will be most beneficial to them.
1. Utilise the garden
- Although large gardens are becoming less and less attractive, as a nation, we do value the addition of outdoor space.
- Making your garden feel like another reception room could add heaps of value to your property, especially if it is currently somewhat neglected.
- Adding decking or a patio can turn a garden into a great entertaining space.
- Summer houses are welcome additions, especially when staged as an extra room to enjoy.
2. Convert the garage
- Most people would prefer an extra reception room to a garage.
- If you have permission to do so, consider converting the garage to add square footage to your home.
- Depending on where your garage is located, they can make fantastic playrooms for children or home offices.
3. Loft conversions
- The loft is another often unused space.
- Check whether you need planning permission to convert the loft. They make stunning rooms.
- They’re reported to add up to 20% onto a property’s value.
4. Add parking space
- Having somewhere to park the car is a big plus for most buyers. Parking spots are becoming even more scarce, making them especially valuable.
- Even if your buyers don’t drive, they will value the space for when family and friends come to visit.
- If you don’t already have parking, but do have a front garden, consider paving part of it to create off-road parking.
- You might have to apply to have the kerb dropped, but it is worth investigating.
- Conservatories are another great way to add square footage to your property.
- Consider adding one next to your dining area or kitchen to increase the size of this appreciated space.
- Make sure you keep it at a comfortable temperature, as rooms that are too hot or cold may put off buyers.
A garden room could add 15%* to the value of your property.
6. Kitchen renovations
- Kitchens are the heart of the home and there’s nothing more appealing than a big welcoming room in which to cook a feast and entertain.
- If you only want to improve one room, then definitely concentrate on the kitchen and add a few wow-factor touches to make it stand out.
Adding a new kitchen could give your property an 8% value boost.
- After the kitchen, your bathroom should be next on the list for an overhaul if it’s looking dated.
- Choose a crisp white bathroom so it appeals to lots of people and add some ultra-stylish features to add impact.
8. Central heating
- It might seem obvious, but adding central heating to a property that doesn’t already have it will help to increase its value and its appeal.
- It’s considered essential and buyers could try to offer less money if they need to have it installed.
9. Fix problems
- Make sure you repair any major problems before you put your house on the market if you want to increase its value. For example, a leaky roof or a structural problem.
- Buyers could use problems as leverage to get money off the asking price and most will be pleased if they know it doesn’t require any urgent work.
- Making your home more environmentally friendly with the likes of solar panels, and good insulation can increase its value.
- If your home is cheaper to run, it will stand out in the property market and you can usually add a premium to the price.
Before undertaking any major work such as an extension, you can consult your local Guild Member to ask for their advice on property values. Click here to find your local Guild estate agent.
*Percentages will vary a lot from home to home, but experts at The Guild have given their best-educated guesses at the most common increase that each addition will give to a property.