As homeowners we know that we are likely to be living in our greatest asset. Our property is an investment just as it is our home. As such it can be a good idea to think of it these terms before we choose to spend any money on it. It makes sense to ensure that if we are investing, we will be likely to make a good return on it, as we would do with any other type of asset. With this in mind, here are 3 ways to add value to your home, areas that are usually worth spending on.
Renovate and redecorate
Improving the interior appearance and condition of your home tends to be one of the best places to start. This is also the one that tends to make a real difference to how we live in and enjoy our homes on a day to day basis.
You will want to address any more serious concerns first with this one. If your house would benefit from rewiring, damp proofing or plastering, then get that work carried out before moving on. These make your house more comfortable and safer for you, and issues in these areas could put potential buyers off if you were looking to sell at some point.
You can then have more fun with planning decor changes or updating rooms. Kitchens and bathrooms are often the rooms that can help to sell homes or put buyers off them, so they are normally wise investments.
Extend the space
Adding square footage to your house usually adds value. There is a caveat here that most areas and streets do have a ceiling price, no matter the number of bedrooms or reception rooms, so do take care that your spend doesn’t take you through that ceiling.
Assuming that you have taken into account the ceiling price, there are several ways to extend your home. Loft conversions can be stunning additions to a house and people often use them to create an extra bedroom and ensuite. You could also add floor space on the ground floor, using some of your yard space up or demolishing unwanted outbuildings, or you can add another storey or two.
When you are extending, think about the rooms that people find most desirable, as these are the ones you want to either add on or enlarge. Perhaps you will add a utility area and guest WC in a downstairs extension, or an additional bedroom or bathroom upstairs.
Improve the exterior
There are many ways to improve the exterior of your home, so work on them in order of priority according to the most value they will add.
You could hire a paving contractor and get a complete new driveway which is likely to add kerb appeal as well as being a structural improvement. You might want to update your glazing, front door and porch, all of which can make your home more attractive as well as more energy efficient.
You may choose to landscape your back garden, which can often be a matter of personal taste. However, there is no doubt that a well looked after garden is more tempting to potential buyers than an untidy and overgrown yard.