As a nation, we love spending money on home improvements – in fact, the Office of National Statistics has revealed that this expenditure is almost £30 billion a year, reports The Telegraph. This means the weekly spending is £43 million, but is all of that money really being spent well?
The problem is, some home enhancements can be much better than others in enhancing the property’s value. Here are some that would warrant the strongest consideration.
Build an extension
You might look at a particular space of your house and quickly see how it could benefit from being enlarged. Perhaps you would like more space to accommodate guests in your dining area or a bigger kitchen for use in preparing food for major events like a Christmas get-together.
Though an extension is likely to cost you at least £20,000, it could add 11% to your home’s value. That would translate to about £33,000 on top of the average UK residence’s value.
Build a conservatory
Conservatories have come back into fashion recently. While the right conservatory could set you back between £4,000 and £10,000 upfront, the resulting rise in your property’s value could be 5%. That would represent, for the average UK home, about £15,000 added to the value.
Nonetheless, you shouldn’t rush into pursuing the conservatory option if it would swallow up too much of your garden space, as gardens also significantly improve value. Ideally, the conservatory should provide a largely seamless transition between indoor and outdoor areas.
Add another bedroom
Your home’s value could grow to an easily appreciable extent if you add an extra bedroom, though you should think carefully about how exactly to go about this.
The task could cost as little as £15,000 if you keep everything streamlined – for example, through converting a loft rather than making a whole new extension. Otherwise, the price could reach an eye-watering £40,000 – about £10,000 more than the value a double bedroom would probably add to the average UK property.
Give bathrooms a makeover
Naturally, it’s desirable that your bathrooms look fresh and hygienic – not least to people who might buy your property. To this end, make sure that your bathrooms are sufficiently well-lit – whether by natural or electrical light – and the walls are a pleasant, neutral, light colour.
At least one of your bathrooms should have a shower, as most buyers would deem this essential, Homebuilding & Renovating emphasises. Also, don’t overlook the cleanliness of the bathroom flooring, for which carpet wouldn’t really be suitable.
Create an open-plan living space
Many people looking for a new home have an eye firmly on practicality – and there can certainly be many practical uses for open-plan spaces. However, to make one of those, you wouldn’t necessarily need an extension. An alternative option is purchasing folding doors from Bi Fold Shop.
Bi fold doors could be installed into a wall that could, as a result, be opened up to effectively turn two small rooms into a single much larger one.