If you can envision selling your house within the next few years, then it is time to start considering the renovations that could boost its value. While this requires an expense of time and money in the short term, you could end up grateful for your renovations when it eventually comes to putting your property on the market.
Here are three examples that could potentially increase the value of your home. Of course, there are no guarantees in this process, as the property market is prone to fluctuations. However, undergoing these renovations will improve the chances of boosting your selling price, as long as the work fits with the overall style of the property and is completed to a good standard.
Convert Your Garage
If your neighbourhood typically attracts homeowners without a vehicle, or who own just one vehicle which can be parked on a driveway, then it might be that your existing garage has little appeal to potential buyers. When the property was first built, there was clearly a purpose for the garage. However, that purpose probably wasn’t to store old boxes or general clutter.
If the garage is now obsolete as a home for a car, convert it into something that your house previously had no space for. That could be an office or a games room, while Real Homes have a detailed guide on creating a home gym. That type of conversion will not be for everyone, so consider the people that might be moving into your area. That will help you to determine the most profitable transformation for your garage.
Build A Conservatory
The addition of a conservatory is a real statement of a renovation, so the financial outlay will inevitably be significant. You may be able to offset the initial costs by remortgaging for your home improvement, although your monthly mortgage payments will rise in the long term. However, a mortgage advice service like Trussle can help you identify the best remortgage deals, so that your borrowing costs are as minimal as possible. The more money you save on remortgaging, the more profit you can potentially make from your conservatory when you choose to sell your property.
Conservatories can add around 10% to your house’s value, given that they provide an all-important quality: more living space. Consider what design fits naturally with your house, as you want the conservatory to feel like an integral part of the property rather than an add-on. You may also want to tile the roof to make the conservatory suitable for use all year, not just in the warmer months.
Get A New Roof Fitted
Your roof is designed to stand up to the elements for a prolonged period of time, but it will not last forever. Every few decades you will need to have your roof replacing. If you have a new roof fitted to your house it will not only add value to your home, but it will also prevent leaks.
Hire an experienced roofing installation company to carry out the work for you. Getting a new roof fitted can provide upto a 63% return on your investment.
Transform The Garden Area
If it makes no sense to encroach into your garden space with a conservatory, then think about how you can optimise your outdoor area instead. While some prospective house buyers look at a messy garden as a project, others may be deterred by the challenge of making the space usable. By undergoing garden renovations before you start the selling process, you could command a higher starting price.
House Beautiful have gone as far as suggesting that a landscaped garden could increase property value by 77%, citing research undertaken by Post Office Money. Their figures suggest landscaping could cost the homeowner just shy of £3,000 — much less than an extension or a loft conversion. If landscaping isn’t viable, the addition of decking or a patio may make the garden area feel more ripe for entertaining. This could be pivotal in tempting prospective buyers to up their offer.
Make sure your renovations appeal to you, as well as to those in the buying market. After all, if you end up deciding to stay in your home, then you will get to enjoy the benefits of your renovation too.