How to increase the value of your home?

Owning a home is not just a milestone achievement and emotional feat. It’s also a financial decision that can pay dividends as you build up the equity in your property and watch its value rise over the years.

The rate at which the property increases in value can depend on a variety of factors, including the area you live in and the present demand for homes. However, there are some changes that you as the homeowner can make to appeal to potential buyers and merit a greater selling price. 

Whether you’re currently trying to sell your home or simply want to increase the value of your investment, here are some tips on how you can do so…

Carry out necessary renovations

Renovating areas of the home that aren’t looking as up-to-date can be highly effective at raising the value of the property – that is if you are okay with the higher costs and longer returns. That being said, buyers can be put off by lacklustre bathrooms and living spaces.

Having bespoke furniture installed can add a touch of class to a property and greatly increase its value. Fitted wardrobes make use of the space available in a room regardless of its shape and can open it up to appear more capacious. These can be added to any room in the home, including bedrooms and the loft. 

Some of the most sought-after extensions include the kitchen, which can add 15% to the value of the home, and the loft, where a conversion can increase the value by up to 10%. Whilst new bathrooms can only improve a property’s value by around 4-5%, 75% of prospective buyers say they would place a higher offer if a home offered en-suite or additional bathrooms.

Improve the energy efficiency of the property

Upgrading the property so that it has improved energy efficiency is key when owning a home and also when trying to selling it. If the home expends less energy, utility bills are significantly lower and the impact on the environment is lessened. 

With more individuals becoming invested in reducing their carbon emissions, it’s vital that these changes are made. These don’t even need to be anything too substantial; installing modestly-priced appliances can bag you a higher sale price.

Improve your kerb appeal

The outside of the home is the first thing that potential buyers see when they approach a viewing, and first impressions matter when it comes to selling properties. 

Freshen up your kerb appeal by adding some new plants, sprucing up your old fence, adding a lick of paint to your front door and creating some feature lighting in the drive to name but a few. 

The majority of these are inexpensive although they can easily influence appraisers and buyers alike.