Looking to add value to your home? It’s a smart move. Home improvements are one of the best ways to do just that and you can reap the rewards when you come to sell your property. But how can you fund them and what are the best ways of adding value?
Funding home improvements
When you make improvements to your home, you’re essentially investing money and should expect to see a return down the line. Although, finding the cash to invest isn’t always easy.
If you don’t have a pot of savings lying around, you could consider a personal loan or use an equity release calculator to see how much of your home’s value you could unlock. You have to be over 55 to do this, but it could help you to add value that you can reclaim in the future.
Most popular ways to increase property value
Convert your basement or loft
One of the most valuable additions is to create a functional room from your existing basement or loft space. It’s much cheaper than building an extension and you can add as much as 46% onto the value of your property with another bedroom – how crazy!
This is one of the most costly improvements, but it will surely pack a punch when you come to sell on. Get a few quotes from contractors and see if you can make it work.
Improve kerb appeal
First impressions matter. The initial view of your house from the road can make a big difference during a valuation. If it’s looking tired and unloved, this could knock a fair chunk off the asking price.
Give the exterior a lick of fresh paint and don’t forget about window frames and doors. Tidy up the front garden or driveway as well so prospective buyers get a better look at the property upon arrival.
Revamp your garden
Outdoor space has been valued much higher by buyers since the pandemic, so making the most of yours is key to attracting higher bids. If you’ve neglected your garden, start by tidying up the place and cutting back overgrown shrubs.
With more extensive landscaping and garden design, you can create a completely different space that adds character and charm to the property. You’ll also benefit from your new outdoor haven while you’re still living there.
Convert the garage
Garages are undervalued by so many these days – more and more are just being used as throwaway storage areas. However, these spaces have the potential to add usable space and functionality to the property which could see the value rise impressively.
Creating a new bedroom or bathroom is one of the best ways to do this, but there are other options such as a home office, second lounge or extended kitchen if you can knock walls through.
Make your home more energy-efficient
Buyers are increasingly looking for properties that can help them save on energy bills and save the planet. As such, making efficiency improvements to your home is a good way to increase its value when you come to sell it.
This can include installing new double or triple-glazed windows, upgrading the heating system or adding solar panels on the roof. These should also help you save money in the meantime.