There are numerous types of home improvement. Some of these are designed to increase the size and comfort of the home, whilst others are necessary as part of the need to keep older properties in a good state of repair. However, certain home improvements have been identified as having a direct correlation with the value of the house. In this article, we look at some of the home improvements that have the most direct effect in increasing a property’s potential resale value.
Increasing the Property’s Dimensions
Undoubtedly the most effective way of adding value to a home is to increase its size. There are several different ways of going about this.
This is a fairly cheap and easy way to add space to a home, primarily because it involves extending within the house’s existing framework rather than extending outwards. If the loft space is large enough, a conversion can create a completely self-contained unit, whilst smaller lofts will limit the extension to a single unit only.
Potentially more versatile than the loft extension is the construction of an added room or rooms to the exterior of the house. This extra construction is incorporated into the main body of the house, resulting in an increase in the available living space. An extension will cost considerably more than a loft extension but can result in the addition of an extra storey (or two) to the original structure. Planning permission may be necessary, depending on the dimensions of the proposed extension. A substantial extension can have a dramatic impact on the value of a house.
Probably the least expensive of all the ways of adding space to a house, the construction of a conservatory, can nevertheless add real value to the property, depending on the size and style of the conservatory.
There are three remaining home improvements that studies have revealed can increase a property’s value. All of these affect the interior of the home.
For many people, particularly those living in colder regions, central heating is an absolute must. Consequently, the installation of an efficient central heating system is bound to have a corresponding effect on the value of the property.
For many home buyers, the presence of a stylish kitchen, with classic units and worktops, is a real attraction. Conversely, an older, shabby kitchen can have the effect of inviting a reduced bid for the property or even putting off a buyer altogether. The installation of a new kitchen will have the reverse effect, increasing the value of the home and the prospects of achieving a good selling price.
Although not as important as the kitchen, the condition of the bathroom also affects the perception of a potential buyer of the value of a house. Renewing an old bathroom may add a certain value to the property although this is unlikely to be on the same scale as the other improvements outlined above.
When it comes to home improvements, there is no guarantee that they will enhance a house’s value. However, the ones that we have listed here are as likely as not to represent real cost-effective home improvements.