Did you know that April is National Home Improvements month? In 2020 it also happens to be at the same time as UK lockdown, what a perfect coincedence you might say! Property owners across the UK have spent almost £8,000 each on home improvements over the last five years, a staggering £48 billion in total, according to new research by the National Association of Estate Agents.
Nearly three-quarters of home owners have redecorated, while two in five have put in new flooring or landscaped the garden and one third have refreshed their bathrooms.
Over half of home owners stated their motivation for carrying out such work was to improve the look of their home, nearly a quarter sought to add value and one in five bought a ‘fixer-upper’ on purpose to work on a ‘project’.
Only 7% of property owners stated the reason for undertaking improvements was because the cost of moving was too high. People mainly improve their homes to increase their quality of life rather than to increase its value in order to move.
Add value to your home
If you are currently on the market or interested in moving in the near future, there are projects that will add that extra bit of value to your home and impress buyers on viewings. We take a look at the most valuable home improvements you can undertake to ensure the best return on investment...
Fix any structural defects
Repairing structural problems can be one of the most costly renovation projects, but if you want to add high value to your home, it’s crucial to action them.
By adding extra lighting into certain rooms, your home will instantly feel warmer and more welcoming. Both natural and electrical light can easily and cost effectively be enhanced to boost the appeal of living space.
Replace the windows
Windows can make a big difference to the look of a house, especially first impressions before even entering the property! It’s important to ensure the windows match the style of house, whether modern or traditional. New windows will not only make your home look better but also make it more energy efficient, saving on household bills.
Get new flooring
A new floor can really enhance the overall look of a living space. Modern laminate, solid wood and engineered hardwood flooring are all great choices if you’re after a long lasting solution the instantly transforms a living space.
Extend into the loft
Loft conversions are said to be the most valuable project you can do. It is an easy wat to add an extra bathroom or bedroom to your home which will almost certainly add £’s on to its value. Nationwide stated that a loft conversion can increase your home’s value by up to 21%. It might be a more extravagant renovation to undertake but the return on investment is excellent.
Renovate your kitchen and bathroom
Given that the kitchen and bathroom are two of the most important rooms - and can easily look the most dated - it may seem obvious to tackle these first. There isn’t a day that goes by when a vendor does not ask whether they should replace their kitchen or bathroom before putting their home on the market. It is important when renovating a kitchen or bathroom with the purpose of boosting saleability that it is a neutral scheme. Placing too much personality into these rooms may actually put off a potential buyer, who doesn’t have the heart to rip out a brand new suite that isn’t to their taste.
Treat your garden like another room
A well-groomed garden often sits highly on the buyer’s preference list. Nobody wants to open their patio door to a jungle! This is why it is important to landscape your outdoor space well by planting, pruning, weeding, cutting back hedges and clearing debris. Ensure the garden is easily accessible from the house and free of clutter to really show its good points and future potential.
How much value will I add exactly?
Have you recently renovated your home or thinking about doing so? Perhaps you are wondering how much your home is worth before or after giving your property some TLC? You can get ball park figure of your home’s value by using our instant online valuation tool: CLICK HERE
Alternatively, CLICK HERE to find your local Waterfords branch, who would be delighted to visit your home and give you a full market appraisal when social distancing rules are relaxed.
Our priority is the safety of our staff and customers.
We are able to offer viewings, property visits and in-person valuations while following strict hygiene procedures. If you do need to visit a Waterfords branch, it is preferred that you do so by appointment. Get in touch with us to arrange this
Camberley - 01276 66566, Camberley@waterfords.co.uk
Chobham - 01276 858589, Chobham@waterfords.co.uk
Fleet - 01252 623333, Fleet@waterfords.co.uk
Yateley - 01252 870222, Yateley@waterfords.co.uk
Lettings - 01252 623330, Lettings@waterfords.co.uk