When it comes to renovating your home, some ventures make a lot more sense than others. This is both in terms of financial gain and how they’ll improve your standard of living.
Of course, most remodels are driven by return on investment (ROI), but some come down to simply making life in the home a bit more comfortable. Luckily, the two tend to come as a package deal, but which areas of the house should be getting the focus of your attention?
Here, we discuss the big value-adding renovations, both financially and visually, you can make in your home.
The loft conversion
If you’re looking to create an extra room in the home, your best bet is most likely a loft conversion. Especially in the denser urban sprawls like London, where space is at an absolute premium, the addition of an extra living area or additional bedroom will offer significant additional sale value.
It’s not just down south where an added bedroom means big hikes on sale value. Only in June did Ideal Homes report on the staggering value growth prospects of an additional bedroom in Northern properties..
Putting money to one side, a new room gives you a host of potential options to work with, from an extra bedroom to a cinema room or home office.
You spend an awful lot of time in your kitchen, and there’s something rather exciting about the prospect of brand-new appliances everywhere, fresh marble countertops and a load of fancy modular storage. Kitchens don’t have to be entirely function focused either. A breakfast bar or engaging central counter can add a social element to your cooking area.
Plus, the money you spend on it will likely be recovered when it comes to the boost in your home’s sale value.
A stylish bathroom makes an awful lot of difference to the average would-be homebuyer. Sparkling taps, an enticing bath and a fresh and airy décor will catch the eye of any visitor, as well as giving you a sanctuary to retreat to and relax in.
Both kitchens and bathrooms make sound cosmetic investment decisions. Don’t bother changing layouts or making significant modifications that cost an arm and a leg. Fresh surfaces and appliances will be more than enough to keep both you and any future buyers happy.
OK, so it’s not a room, but that doesn’t mean you should ignore how valuable an asset your outside space can be. A well-maintained garden can add as much as 20% to the value of your home, particularly in areas like London where any space is at a premium. Therefore, it makes sense to invest in some TLC for your garden.
Looking after your garden needn’t be too much of a chore either. Gardening for many is as much of a hobby as it is a practical solution, and you don’t need to be a professional to achieve good results. Whether it’s a passion project for you or simply a way to add a few thousand pounds onto your property, a garden overhaul is a solid choice.
It’s worth noting that any significant renovation is likely to come with some notable upfront costs, and any remodelling decisions you make should be incorporated into a careful budgeting process. If you do have the capital to make a move, however, these four renovations prospects will offer you both potential financial gain and a better standard of living over the next few years.