Getting onto the property ladder is an excellent investment to make, especially if you renovate a run-down house. However, it’s important to know which home improvements can maximise the value before starting the work.
You don’t want to blow your budget on costly remodelling projects that won’t significantly affect the property’s worth. Some home features can even decrease the overall value and deter potential buyers.
To help you prioritise your home renovations, Townscape Architects have put together a list of five profitable improvements.
1) Loft conversion
Converting a loft into a liveable room can increase the property’s value by an estimate of 15%. Transforming this unusable area into a multi-purpose room will allow you to advertise your home with more bedrooms or a home office, which are both highly desirable additions. When an attic has been renovated well and has a skylight, it also adds a wow factor for viewings.
2) Cellar conversion
Converting an existing cellar into a living or storage room is another great way to add space to a property. This home improvement job can increase the property’s worth by a whopping 30%.
3) Add a conservatory
Getting a conservatory or garden room built will add another living space to your home, which can increase your home’s price by up to 5%. However, ensure it’s appropriately constructed and well insulated, so it’s usable year-round. If the design is poor, this addition could actually decrease the property’s worth.
4) Kitchen update
Increasing the size of a kitchen can make it much more practical by adding space for more appliances, storage or just to make it easier to manoeuvre while cooking.
Extending the kitchen with a side return, a narrow alley that runs alongside the kitchen in a standard terraced or semi-detached house can increase the home’s value by 15%.
Updating the kitchen with modern fittings can add another 10% to the property’s worth. However, ensure you spend within proportion to the rest of the home’s value.
5) Add or relocate the bathroom
A downstairs bathroom is often considered an awkward location, which can put off potential buyers. However, relocating it upstairs can add up to 10% to the property’s worth.
Moving the bathroom upstairs can extend your kitchen space if the rooms were initially next door. However, you’ll have to give up a room upstairs to complete this job. Ideally, if you have an attic to convert, you won’t need to decrease the number of bedrooms available.
If you already have plenty of rooms, you could add a second bathroom and increase the property’s worth by between 5% and 9%.
To see the most significant return on investment with your home renovations, prioritise creating more space and making the property as functional as possible.
