Many homeowners prioritise increasing the value of their homes, whether for future resale or to enhance the living experience. Several renovation and improvement strategies can boost your property’s market value, often yielding impressive returns on investment.
From converting unused spaces to enhancing kerb appeal, here are some of the best tips for increasing the value of your home.
Let’s get straight to the point.
Boosting your home’s value can be achieved through various cost-effective strategies, such as converting lofts and garages and adding side-return extensions. Simple renovations, like upgrading bathrooms, creating an open floor plan, or improving garden kerb appeal, offer strong returns.
Prioritise projects like kitchen remodels, adding a wood deck, or replacing siding and windows for significant improvements without breaking the bank.
1. Split A House Into Flats
Converting a house into multiple flats can significantly increase your property’s value. In areas with high demand for smaller living spaces, subdividing a large home into several units can offer short-term rental income and long-term resale benefits.
Benefits Of Subdivision
- Increased rental income: More units mean more tenants, which can lead to higher rental returns.
- Higher resale value: Smaller, individual flats may appeal to a wider range of buyers, particularly in urban areas.
Before taking on such a project, research the demand for flats in your area. This might be the right option if larger homes are harder to sell. Always ensure that you meet local planning and zoning regulations before starting.
2. Turn Your Garage Into A Living Space
If your garage is merely used for storage or has enough off-street parking, converting it into a liveable space can be an excellent way to add value to your home. This space could be transformed into an additional bedroom, an office, or even a small flat.
Steps For Garage Conversion
- Check with the local planning department: Ensure the conversion falls under permitted development or obtain the necessary approvals.
- Meet building regulations: Ensure that the conversion adheres to all local building codes, particularly concerning insulation, wiring, and structural integrity.
- Inspections and compliance: Regular inspections will be required to ensure the work meets safety standards during the conversion process.
Converting a garage adds to your home’s usable space and can increase the property’s value, especially in areas with limited housing.
3. Add A Side-Return Extension To The Kitchen
A side-return extension involves extending the kitchen space into the narrow strip of land along a house’s side. This is common in terraced or semi-detached homes. The extension creates a more open and functional kitchen space, highly appealing to potential buyers.
Things To Consider:
- Planning and Permitted Development: A side-return extension is often considered permitted development but must adhere to certain size and height restrictions.
- Natural light: Removing windows may reduce natural light. Consider installing roof lights or opting for a transparent roof to maintain a bright, airy atmosphere.
A side-return extension can maximise the available space, turning a cramped kitchen into a more inviting area and significantly boosting the home’s overall appeal.
4. Converting A Loft Into A Bedroom
One of the most effective ways to increase your property’s value is by converting the loft into an additional bedroom, especially with an extra bathroom. Loft conversions can add up to 15% to your home’s value, particularly in areas where additional bedrooms are in high demand.
Conversion Options:
- Roof light conversion: The most cost-effective option, as it involves minimal structural changes.
- Mansard conversion: More expensive but offers the most space, altering the roof structure significantly.
Before proceeding, consult with an architect or builder to determine if your loft is suitable for conversion. Loft conversions often fall under permitted development, but it’s always best to check local regulations.
5. Add A Conservatory For Extra Space
A conservatory can be a versatile, light-filled space that brings the outdoors inside. It can serve as a sunroom, dining area, or additional lounge space and is a relatively inexpensive way to increase the living space of your home.
Glazing And Frame Options:
- Double-glazing is the minimum requirement for conservatories, but other options like sun control or self-cleaning glass exist.
- Frame materials: Depending on your budget and design preferences, consider uPVC, wood, or aluminium for the conservatory frame.
Conservatories often fall under permitted development, but you’ll need to ensure they meet building regulations, especially if they’re connected directly to the house without a separating door.
6. Improve Garden And Kerb Appeal
First impressions matter. Improving your home’s curb appeal can significantly impact its value. Simple updates like a fresh coat of paint, new doors, or polished ironmongery can make a huge difference.
Garden Enhancements:
- Deck or patio: Add a deck or patio to enhance the functionality of your garden and create an outdoor living area.
- Landscaping: Maintain a tidy garden, trim hedges, mow the lawn, and remove weeds to ensure it looks well-kept.
Creating a usable and attractive garden area for homes in urban areas, especially with limited outdoor space, can greatly increase the property’s appeal and value.
7. Renovate The Bathroom
Bathroom renovations can have a strong return on investment, but you don’t need to go overboard to see results. A mid-range bathroom remodel typically yields a return of around 70%.
Cost-Saving Tips:
- Keep the same layout: Avoid moving plumbing fixtures, which can significantly increase costs.
- Framed shower enclosures: These tend to be more affordable than frameless options.
- Floor-mounted fixtures: These are generally less expensive than wall-mounted alternatives due to reduced installation complexity.
Incorporating accessible features, such as a walk-in shower and grab rails, can also future-proof your home and appeal to a growing demographic of older buyers.
8. Create An Open-Floor Plan
One of the most popular trends in home design is the open floor plan, which involves removing walls to create a more expansive and cohesive living space. The kitchen and living area are common targets for this type of renovation.
Considerations:
- Structural integrity: If the wall you wish to remove is load-bearing, you must hire a professional to complete the work safely.
- Space utilisation: Open-floor plans create more flexibility and can make small spaces feel larger.
This type of renovation is relatively affordable but can significantly improve the flow and functionality of your home, making it more attractive to modern buyers.
9. Replace A High-End Garage Door
Replacing an outdated garage door with a new, modern option can provide a return on investment of nearly 98%. While this may not seem like the most exciting update, it is one of the most cost-effective improvements you can make.
Features To Consider:
- Energy efficiency: Modern garage doors often come with insulated panels and glazing to help with energy savings.
- Durable materials: Steel, aluminium, and wood composites are popular for high-quality, low-maintenance garage doors.
Investing in a new garage door may improve the space’s functionality and enhance your home’s kerb appeal.
10. Add A Wooden Deck
Outdoor spaces are highly sought after, and adding a wood deck can be a smart investment. A deck not only extends your living space but also enhances the usability of your garden, making it more attractive to potential buyers.
Deck Considerations:
- Wood vs Composite: While composite decking materials are available, wood often provides the highest return on investment.
- Size and Layout: Consider a deck that complements your home and yard size. A 16×20-foot deck is recommended, but adapt the size to suit your space.
A well-designed wood deck can increase the value of your home by creating a comfortable and functional outdoor living area.
11. Renovate The Kitchen
A kitchen renovation is one of the most effective ways to boost your home’s value. Buyers often value the kitchen, making it a home focal point.
High-Impact Upgrades:
- New countertops: Materials like granite or quartz offer a luxurious look and feel without breaking the bank.
- Energy-efficient appliances: Modern, energy-saving appliances are practical and appealing to potential buyers.
- Cabinet refresh: Rather than replacing the entire kitchen, consider repainting or refacing cabinets to update the look.
You don’t need to spend a fortune to see a great return on a kitchen renovation. Even minor updates can offer significant returns, with a small kitchen remodel yielding an ROI of approximately 81%.
12. Replace Siding And Windows
Siding replacement is a highly effective way to give your home a fresh, modern look. Old, worn-out siding can make your home look dated and reduce its value. New siding, combined with vinyl window replacement, can rejuvenate the exterior of your home and improve energy efficiency.
Window Replacement:
- Energy-efficient vinyl windows offer aesthetic improvements and energy savings, making them a wise investment.
Replacing siding and windows improves your home’s appearance and energy efficiency, making it more attractive to eco-conscious buyers.
Conclusion
Increasing the value of your home can be a manageable amount of renovations. Strategic improvements such as converting unused spaces, enhancing kerb appeal, and modernising key areas like the kitchen and bathroom can result in a solid return on investment.
Smaller, well-planned upgrades, like replacing the garage door or adding a wood deck, can also significantly boost your home’s appeal and market value. Before embarking on any home improvement project, consider your budget, the local market demand, and the potential return on investment.
FAQs On Home Repair
Can Foundation Issues Be Fixed?
Yes, and some aren’t too expensive to repair. The foundation issues are not dangerous to you or your family, but they’ll allow other, more concerning problems – like mould or vermin – to seep into your new home.
What Do You Call Someone Who Fixes Everything?
Someone good at many things, especially fixing things around the house, can be called a handyperson.
What Skills Do I Need To Be A Handyman?
Common skills include appliance installation, carpentry, basic plumbing, minor electrical wiring, maintenance and renovation. Over time, maintenance workers can improve these skills and gain new ones through vocational training, apprenticing, self-directed study and continued work experience.
What Are Major Repairs?
Major repairs involve large expenditures that extend the useful life of an asset. For example, replacing a building roof is considered a major repair if it allows the building to be used beyond its normal operating life.
What Is The Difference Between Repairs And Alterations?
A repair is a maintenance that restores a type-certified product to “condition for safe operation.” An alteration is a maintenance that adds to or removes from the type-certified product’s configuration.
