There are lots of small changes you can make to your house to add a little bit of value here and there, and there are some ways that add lots of value.The high value adding changes often cost more in money and time, but can add thousands to your selling price.
In this article, we’re going to look at high value changes you can make to your property. These may not add value to every single property (some streets have a definite ‘ceiling price’) but more often than not, they will push the selling price up.
1. Loft Conversion
If the conversion fits in with the rest of the house and there is easy access, a loft conversion can add lots of value to a house. It is generally the easiest way to add a bathroom or bedroom and compared to a basement conversion is often cheaper. Mortgage lender GE Money carried out a survey on Estate Agents that found that a loft conversion adds on average 12.5% to the value of the house.
2. Paint the outside walls
This can be expensive on certain properties and cheap on other properties, depending on the need to rent scaffolding and the size of the house. An attractive external front wall of the house, however, can help entice buyers in through the front door. You should at least aim for your house to look better from outside than the houses around it. Once you’ve painted the walls, finish the job by cleaning the windows and clearing the guttering.
3. Get a new kitchen
The kitchen is such an important part of the house. Rather than simply being home to the cooker and sink, it is much more of a social hub, where we chat, watch TV, experiment with food and relax. A great kitchen really adds value to the home, but keep in mind the value of the house as a whole. If you spend £25,000 on a kitchen and your house is worth £100,000, you’re unlikely to be able to cover your costs. But a cheap kitchen in a huge, £1,000,000 property will look out of place and… cheap!
4. Add a parking space
If you can convert some front garden space into a parking space, in the right sort of area, then you can add value to the house. Obviously keep the appearance of the property in mind, but if parking is extremely limited on the road, and there is space to play with on the land, then it could be a great selling point.
5. Build a conservatory
By building a conservatory you are extending the living space and adding extra natural light. You are also providing a comfortable space that is protected from the rain and cold - perfect for enduring the British weather!
The addition to the property, however should look like it is part of the house, and not tacked onto the side. Keep the flooring style similar or exactly the same as the rest of the house and choose complementary decor.