What Changes Can Add Value To Your Home?
Looking to sell your home? Or perhaps you’re looking for savvy ways to invest in your property for the future? Regardless of your reasoning, investing in your home is a smart way to spend your money, especially considering the impressive trajectory that the housing market has been on over the past few years. In fact, property is now regarded as one of, if not the single best asset class to focus your time, energy and funds into. But what changes to your property will yield the most significant value increase? Miller Rose investigates…
A Loft Conversion
According to property portal giant Zoopla, converting your loft space can add up to 15% to the value of your home, with this added value being even more significant if you choose to add a bathroom to your loft conversion too. This is a particularly beneficial investment if you do not have an abundance of garden space, as extending ‘upwards’ as opposed to ‘outwards’ can help you avoid eating into your precious outdoor space. However, if your home is already lacking in ample storage space, a loft conversion to create additional bedrooms and bathrooms may be counterintuitive – in this case, it is worth consulting a seasoned valuation professional for their advice on what drives value in your area.Parking
Zoopla estimate that having off-street parking can add up to £50,000 to the value of your home. This addition can be extremely impactful in more built-up areas where on-street parking is the most accessible way to park your vehicle, with most people preferring to have a dedicated parking space rather than having to compete for a tight space to parallel park in. To provide your property with an even more significant value boost, you could add the facilities for electric vehicle charging. With nearly 25% of EV drivers not having access to a personal off-road bay, it’s no wonder that home movers are looking for properties with dedicated EV parking – and they’re willing to pay a premium for it. With electric cars set to become the norm, and the sale of gas-guzzling automobiles scheduled to end in the UK by 2030, accommodating for electric cars early can truly make your home stand out in the current market.Outdoors
Speaking of increasing kerb appeal and making the exterior aspects of your home more desirable, it is certainly worth investing time into your garden and front of your house. The Times suggests that this can boost the value of your home by 2 to 3%, but you needn’t spend thousands of pounds to see a tangible impact on your house value. Here are four top tips for making your home look as wonderful as possible on the outside:- Is the exterior of your property looking a little bit worse for wear? Add a fresh lick of paint to your property exterior to improve its kerb appeal
- As far-fetched as it may sound, your door colour can have quite a significant impact on value perception and can be a cheap and simple way to improve the appeal of your home. Find out which door colour sells best in our blog!
- For those living in apartments, it may not be possible for you to change the exterior of your property too much. Instead, add decorative features such as hanging baskets, or add foliage to your balcony or windowsill to add some colour to your home and make it stand out.
- Make sure you dedicate time to mowing your lawn, trimming your hedges and removing weeds to stay on top of the presentability of your property.