If you are looking to sell your home, it is understandable you may wish to make home improvements. Home improvements can add value to your house, helping you to receive a more substantial fee for the house, and an improved home can attract more buyers to your property. Therefore, there is a great deal to be said for considering home improvements, but remember that not all home improvements are the same.
Of course, you may decide to improve your home as opposed to selling. No matter what reason or reasons you have for carrying out home improvements, it makes sense to choose the improvements that offer the most gains.
Recent studies, carried out by organisations like Hiscox and online agents, using ONS House Price Index figures, indicate what improvements have the most significant impact. You should always consider your home and your own needs (or the needs of a buyer), but it doesn’t hurt to gain insight into what the market is choosing to do with their home.
Many property market specialists recommend updating your kitchen to improve your home, and recent findings suggest this work leads to 5.5% in property value. Another sensible option is to add a new roof to your home, and this can improve the value by 3.1%. Renovating the bathroom leads to an increase in the value of 2.6% and garden improvements can increase value by 1.4%.
However, genuine benefits come from extending your home. A new bedroom added to your property can increase value by 11.2%, a kitchen extension can add 10.8% value, as can a loft conversion. If you are considering a basement conversion, this can be expensive, but it is set to increase value by 6.7%. A new conservatory can add 6% to your house value, and a modern bathroom is likely to increase value by 5.7%.
Robby Du Toit is the managing director of Sellhousefast, and he released a statement, saying; “Homeowners making the decision to stay put and add, improve and renovate their homes instead of moving, is becoming the new trend for those looking to adapt their property to meet their ever-changing needs and evolving lifestyles. It is logical that many view home renovations as a more economical solution and given the uncertainty of the market due to factors such as Brexit, it certainly seems more beneficial to add value to existing dwellings.”
If you don’t have the time or budget to carry out significant home improvements, don’t concern yourself with them. There is demand for all manner of homes, and it is often better to focus on what you can offer, as opposed to fixating on what you cannot.
If you are planning on selling your home, you need assistance from the local specialists. At Mitchells Estate Agents, we are pleased to say we have helped many vendors sell their house, and we look forward to assisting you.
Before putting your home on the market be sure you are making an informed choice by arranging a FREE MARKETING APPRAISAL.