Making investments that can increase the value of your home is always a wise decision, whether you’re looking to sell your home in the near future or not. When it comes to fluctuating property prices, there are some things that we just can’t control including the popularity of the local area and the fluidity of the market.
However, there are some home improvement projects that you can complete that will ensure that your home sells for more, as well as actually increase the demand for your home. Today, we’re going to look at five ways to increase the value of your home in the long term, so when you’re ready to sell you’re able to do so at the property’s maximum sale potential.
Increase the Value of Your Home
Without any further ado, here is a list of the top five improvements you can make to your home, in order to increase the long-term value. Starting with the most profitable, we also tried to take into account how much each of the improvements cost, as well as how easily they could be made.
1. Loft Conversion – 15%
Increase the living space your home offers by converting your unused attic into an extra bedroom. To get the full 15% you may need to include an en-suite, so you need to be careful that your costs don’t exceed what you’re going to profit.
2. Increase Energy Efficiency – 14%
Improvements that increase the energy efficiency of your home can increase the value of your home by 14%, which is an average of £16,000*. Among the most desirable ways in which you can do this are by installing solar panels. For more info go to https://powerlec.com.au/solar-panels-busselton/ .
The average cost of a 4kW solar panel system will cost around £5,000 – £7,000 with a reputable and reasonably-priced company. Not only will you increase your home’s value by double what the investment cost, but you’ll also make your home more attractive to buyers. Not to mention the fact that you’ll also be saving money on all your electricity bills from the moment you install them.
3. Apply for Planning Permission – 10%
Whether you choose to extend the home yourself or not, you can apply for planning permission to increase the potential value of your home by up to 10%. New buyers will often be attracted by the extra potential offered and glad that they don’t have to do the paperwork themselves!
4. Increase Kerb Appeal – 10%
Increasing the kerb appeal of your home can add up to 10% on to the value of your home. First impressions count for a lot and by spending a bit of money on the exterior of your home will do wonders for your valuation.
Think about tidying up the front garden; or, if you don’t have a front garden, custom awnings can be a quirky or cute addition to the front of your property!
5. Make the Living Area Open Plan – 3-5%
Open plan living and kitchen areas are highly sought after these days and opening up these spaces by knocking a wall through has the potential to add between 3% and 5% to your home’s value. The kitchen is often the hub of activity in a home, so it’s important to get it right.
So there you have it, five easy ways to increase your home’s value! Not only will you be increasing the valuation, but you’ll also be able to enjoy the improvements yourself, potentially even saving yourself some money while you’re at it.