Adding value to your property, if you have the means to do so, is somewhat of a no-brainer. Why? Well, because you get to enjoy all the benefits the come with upgrading your home, while simultaneously bringing the market price up for the future. We spoke to Peter Butter, the building manager of a local New Malden loft extension company to offer us his best advice on adding value to your home and here are his top 3 tips.
- Redecorate. Possibly the simplest option, and most common. Keeping your home looking fresh, modern and appealing can be as simple as uplifting the décor. Even if you are considering a more substantial change to your property in the future, redecorating can usually be done on a relatively small budget, And, if you get it right, it can be an excellent use of your time – as it can transform the whole look of your property, modernise your space and put your home a step above if it comes time to put it on the market. Put yourself in the shoes of a buyer – would you rather go for a fully, newly redecorated property, or a home that needs new wallpaper, coats of paint and a more modern kitchen? If you take care of these things now, you get to enjoy your modern space, while keeping your home in the running for a better market price.
- Convert an underused space. Often, this option is one of the best ways to add value to your home. If you’re already up to date with your décor, and you only have a certain amount of space to play with, converting an unused room, loft, basement or conservatory, for example, could be an excellent way of adding great value to your property. Perhaps your loft is simply a storage space for Christmas decorations. This space could go to amazing use as an extra room in the home. Not only would you keep a space for storage, but you could fully utilise this existing space in order to have a functional room whilst living in the property, as well as an appealing ‘extra’ to buyers once the house is on the market.
- Update the central heating & wiring. This one will depend both on how long you have lived in the property, and how modernised your facilities are. Having up-to-date heating and electrical systems throughout the home will most certainly add more value than cost to the property. The more energy efficient, the better. In addition to this, have you considered features which will make your heating system even more energy efficient, such as loft insulation, cavity wall insulation and pipe lagging? Even simple things like updating your double glazing and repairing any draft or damp damage can improve the chances of adding value to your property overall.
If you’re really looking to add value – you could combine all three: converting an existing space, such as a loft or basement, add insulation and energy efficient heating options, and fully decorate your new space. Here, you’ll tick all three boxes in one project.