Whether you’re renovating your family home or flipping a new investment bought at a property auction, you’ll be wondering which improvements will add the most value. It’s a dangerous game to throw money at everything and just hope that some of the value will stick. If you are making changes to improve life at home for your family, then there is leeway to have fun and create a place that you love and want to spend time in–joy at home is worth every penny. However, if you are renovating a house to sell either right now or in the near future, then read on.
Install a modern kitchen
The kitchen is the heart of the home, and a modern kitchen is one of the first things that buyers look for when purchasing a new home. An up-to-date kitchen will not only make great pictures for pulling in more potential buyers but it will add real value to your home too.
If an entirely new kitchen isn’t in the makeover budget, consider achieving a facelift with new cabinet doors or a freshly painted finish with new hardware.
Just like the kitchen, the bathroom is a spot on which a sale can hinge. Many new buyers don’t want to do their own work and an imminent bathroom makeover project can be a huge put-off. A clean and functional makeover can be enough to seal the deal, but spa-like luxury can produce larger returns. Paint the picture of an indulgent lifestyle for your buyers with high-end tiles, a power shower, and underfloor heating.
More spacious properties can gain almost 5% value by adding an ensuite bathroom–but smaller property owners should remember that losing a bedroom to create an ensuite is never a good idea. Fewer bedrooms mean lower returns.
An efficient central heating system will positively affect your Energy Performance Certificate, and the lack of one can devalue your home and lose potential buyers. Even if you decide to keep the upgraded property for yourself, replacing a boiler that is 15 years old or more could save you £100s on heating bills.
Double or triple glazing will improve energy efficiency and save money on heating bills too. In addition, fresh new windows will improve curb appeal and update the home interior to boot.
With all of these changes in mind, it’s important to know the ceiling price of your street so that you don’t have unrealistic expectations of your investment. Check out neighbouring houses as a great source of inspiration for what is directly applicable to your house type and layout.