How To Increase House Value: 5 Worthwhile Home Improvement Projects
Your home isn’t just a place to live, but a serious investment, perhaps the largest you’ll ever make. With this in mind, why not ensure your expenditure pays off?
Whether you intend to sell your property or have just moved in, adding value is one of the best ways to safeguard your interests. But with so many options out there – from simple paint touch-ups to two-storey extensions – making the right improvement choices can be difficult.
At M Jarrad Construction, we have firsthand knowledge of how repair, renovation, and remodelling work can transform everything from single rooms to entire buildings, adding tens of thousands of pounds to guide prices in the process. Read on for our insights on projects worth the spend:
1. Increase Your Square Footage With an Extension
Are you in need of more living space? An extension could be your ideal solution. This flexible option provides a stress-free alternative to finding a larger property.
Available in a wide variety of sizes and finishes ranging from single bathroom add-ons to multi-storey constructions, extensions are one of the most popular home improvement options both here in Suffolk, and across the UK – and for good reason.
Whilst their most immediate benefits lie in improved functionality and living space, extensions are also able to add a significant amount to their attached property’s sale value – recent studies suggest figures of up to 12%. This means that if you extend, for example, a property worth £250,000, you could see an additional £30,000 in value, all whilst gaining extra square footage to use and enjoy in the meantime.
Of course, individual increases in valuation may not be completely in line with the above. Factors such as the size and type of extension required will play their role in just how beneficial this project proves – so be sure to conduct research and consult relevant specialists on everything from living space needs and property layout to local ceiling prices.
2. Update The Heart of Your Home With a New Kitchen
The kitchen is the heart of the home, and for many owners, the most important space in it. With this in mind, it should come as no surprise that this single room has a relatively strong influence over property values in their entirety.
66% of UK homeowners made significant changes to their kitchens in 2021, most of which should have proved worthwhile. Adding up to 10% to property value, well-built kitchens are typically an excellent investment both financially, and in terms of home-life happiness. If your property is worth £300,000, a new kitchen could potentially add up to £30,000 to its value.
Of course, in order to achieve the best possible returns, it’s important to ensure that your kitchen remodel is well-executed, and stands the test of time. Be sure to think seriously about everything from layout and functionality to visual appeal and material longevity – even factors such as cabinet colour can be reflected in your final valuation.
3. Renovate: Go Open Plan
On the topic of kitchens and space optimisation, renovation trends over the last decade have seen a significant shift into the realm of open-plan living. Taking your existing property from closed off and complex to light, open, and airy can be as simple as strategically removing a wall – a relatively inexpensive project (averaging in at just £1750 excluding additional fees such as waste removal) almost guaranteed to see significant returns in value.
Kitchen diner conversions have stood as the most valuable type of open-plan conversion for some time now, promising a beautifully functional end result perfect for both days spent with family, and entertaining guests.
With this being said, the removal of internal walls from anywhere within the home can work to deliver the appearance of a larger home and improve natural lighting – giving way to a wonderful view of the outdoors, and better guide prices.
To ensure you make the most of your open-plan investment, it’s critical to fully consider every element, from the space’s intended function to layout, aesthetics, and practicality, before beginning work. Most vitally, you’ll need to establish whether or not the walls slated for removal are load-bearing, as this can significantly impact the complexity of the project and associated costs.
Whilst some homeowners have been known to undertake the demolition of non-load-bearing walls themselves, our experts recommend consulting a qualified expert regardless of whether the project involves a single-skin divider or thick, historic granite. Their qualifications, experience, and industry insight will work to ensure the structural integrity of your home both during post-removal. Additionally, their professional price tag shouldn’t outweigh your return on investment.
4. Maximise Your Existing Property With a Loft Conversion
The number of bedrooms in a property can hold significant influence over its value. Given this, it’s unsurprising that there has been a recent trend towards constructing additional ones. However, many properties have the potential to increase their capacity without the need for building work. Our experts suggest that the extra bedroom you have been seeking could be hidden away amongst your eaves in the form of unused loft space.
Loft conversions have recently seen a significant increase in popularity – equipping those with the spare room and budget with an added floor of functional space. They are generally a surefire way to create at least one extra bedroom, and oftentimes, bathroom, working effectively to add up to 20% to property value. This means that if you convert the loft in your £350,000 property, you could see an additional £60,000 reflected in your home’s guide price.
Of course, these conversions are no simple project, meaning the initial costs involved are often significant, taking into account everything from staircases to skylights and windows. UK averages currently sit at approximately £40,000 – though the type of conversion undertaken can determine whether or not your invoice rings in above or below this figure, with bungalows sitting at the top end of the pricing scale, and Velux at the bottom.
To ensure that you see the best possible return on investment and that a loft conversion is genuinely suited to your property, it’s critical to consult with an experienced expert before commencing work. Most professionals are willing to provide an in-person consultation, during which they should evaluate your existing space and requirements.
5. Bring Your Finishings Up to Standard
When it comes to increasing the value of your property, it’s important not to overlook the impact that finishings can have. Even simple home updates can make a significant difference in terms of their overall appeal and value – meaning owners without the budget for major construction and renovation projects are by no means left out.
A simple brush-up of the primary elements of your property can often work wonders when it comes to freshening up its appearance, with paint leading the way.
Offering a relatively low initial investment with regard to material and labour costs, and a return on investment of up to thousands of pounds, a paint refresh – whether interior or exterior – is a great way to keep your home looking its best. It goes without saying that neutral colours are typically preferred by surveyors thanks to their broad appeal, however, shades such as navy blue have had their moments in the spotlight over the years.
Building on this, elements such as new carpeting, flooring, and curtains, can contribute significantly both to your home’s appeal and to your enjoyment of living there – making them a worthwhile consideration, even if you are not looking to sell anytime soon.
Key Recommendation: Consult Your Local Construction Professionals
In order to see the high-ROI results you desire, it’s vital to ensure every aspect of your home improvement work is carried out to the highest possible standard – leaving no room for snagging or devaluation. A construction specialist, such as M Jarrald, will be able to assist with this.
Our accredited professionals have the skills, knowledge, and experience necessary to complete your plans, from extensions to renovations and beyond, to an exceptional calibre.
Reach out today to discuss your home construction or renovation plans today. Our team will be happy to assist you.