Home Renovations – Which Ones Really Add Value to a Property?

Home Renovations – Which Ones Really Add Value to a Property?

There are all kinds of home improvements you can make to your property.

The important thing is to ensure that whatever changes you make, they impact positively on your property, either in terms of desirability or value. So which home renovations really add value?

Home renovations can be a tricky subject. You may want to open the loft up to the sky or create a state of the art kitchen, but you need to proceed with caution. When considering any of the options below, you need to consider whether such a change would push your house into the next price bracket and whether a buyer would be prepared to pay that for living in the area. A half million pound property won’t sell in a street where the average prices are half that.

 

#1 Loft development

The loft is an underutilised space in many properties and adding a fixed staircase complete with a modern stainless steel balustrade etc. so that it meets building regulations means it could be described as a bedroom. And adding a bedroom adds around 10 to 15% to the value of your home.

In a smaller property, a bedroom may not be necessary but creating a space that is useful, such as storage or a hobby room could give your property the ‘extra’ that it needs to entice offers from buyers.

 

#2 Extend out

If you have space to the side or the back of your property, extending the kitchen or dining room can be a fantastic way of adding more social space to your home, something that many buyers will look for.

But it doesn’t come without risk. Swallowing up a lot of the garden or marooning it without exterior access by taking up the side of the house with an extension can put some buyers off.

Before you spend the money, do your research. Look at properties for sale in the area – what are they offering in terms of space and at what price?

 

#3 Adjust the flow

For older properties, the interior flow of the rooms was created that answered a need at the time they were built. Separate rooms were heated by fires in each one and it was only with the invention of central heating that becomes popular from the 1930s onwards, that we started to branch out from certain activities being confined to certain rooms.

But, older houses were brick built and that means some of the walls were load-bearing; knocking them down could lead to structural damage if you don’t know what you are really doing.

That said, moving walls and creating a better flow in the home is a great step forward. But get it done properly with the help of an architect. This means paying close attention whether the cost of renovating your home in this way will add the value that makes it cost-effective.

Is hiring an architect a good idea?

If you are renovating your property, it can be worthwhile hiring an architect to help you realise your vision. They can be involved as much or as little as you want or need them to be.

 

#4 Deal with niggling problems

Home renovations are not just about the state-of-the-art kitchen or the spa bathroom: it is about the property as a whole. Frankly, your uber-modern kitchen with handle-less, soft-close cupboard doors will pale into significance if the gutter system leaks and there is damp in the back bedroom.

Some renovations and updating are unseen, akin to putting your money into a hole. But, telling your buyers the damp proofing has been re-done or the electrics updated are all examples of unseen but important renovations that make your property far more desirable than others in the same price bracket that can’t boast the same.

Renovations are about the smaller details and yes, the re-wire might not add 10% to the value of your home but it does add desirability, and that is just as valuable as a cash profit.

 

#5 Landscape the garden

Or at least create a garden that fits with how buyers would use the property. A family home needs the predictable lawn area, with perhaps a hardstanding patio for the ‘adult zone’. An urban property with limited outside space should still be usable and enjoyable.

Make the best of any outside space but most buyers want something easy to maintain, so consider this when making changes to the garden.

Renovating our home is something that we do to meet our own needs. We want to be able to live better and more comfortably. But, you should keep your investment in mind too because after all, one of the reasons we buy a property is to make a small profit that allows us to go on and do other things.

What home renovations have you made that have improved your home beyond measure?

 

 

From balcony balustrades to frameless glass balustrades for staircases, Balustrade Components, understand how the small details can make a difference. Why not find how much by connecting with them on Twitter @balustradecomps?

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