Knowing which home improvements to add in order to add value to your home can certainly be a confusing topic. Brexit uncertainty has also slowed the housing market, and some sellers may need to work harder to sell their homes – although numbers of first-time buyers remain healthy.
But however the market is performing, home improvement projects could reap rich rewards and seriously enhance asking price values.
They are most likely to boost selling appeal if they:
We’ve compiled a list of the most profitable home improvements to help make your decisions that little bit easier. Here are some of our favourites:
Replacement windows add visual appeal and are highly attractive to potential buyers, while also helping you save money on energy bills thanks to thermal efficiency. A new owner will be delighted to know they don’t have to do any further work on the windows for years. These improvements also enhance security.
One figure holds that replacement windows and double glazing can improve your home’s value by up to 8%.
A new front door can add up to 7% to the value of your home and will bring a string of other advantages, too. Again, security, appearance and energy efficiency are boosted, all hugely appealing to a new owner. Contemporary models with durable materials such as uPVC, or composite doors, are especially popular. So-called ‘kerb appeal – i.e. the first impression from outside your home is also enhanced. What’s more, a replacement front door is one of the more cost-effective home improvements around.
The right back door can make a room feel bigger from inside, or consider opening up your home to your garden with bifold, patio or sliding doors, perhaps replacing part of a wall if necessary.
As long as you can do so without compromising your outdoor space too much, a new conservatory or orangery could add over £3,000 to your property’s price tag. You’ll love the extra space, and increased natural light – and you could also consider the more cost-effective option of a lantern-style roof for any room.
Replacing a carpet or laminate flooring with a real timber model can pay for itself in terms of the value it adds to your home.
Estate agents say a loft conversion can add over £24,000 or around 15% to an asking price, an extension nearly £6,500. Meanwhile, a new kitchen could enhance value by around £3,500 or 6%. Convert the garage and you could add 20%. Making a living space open plan is another lucrative home improvement, potentially adding some £46,500.
Finally, gardening and general painting and decorating will also boost the odds of a swift, profitable sale, often reaping rewards depending on how it looked before.
According to Ideal Home magazine, some projects which could actively lose you money are mostly of the lifestyles-of-the-rich-and-famous variety, including splashing out on a swimming pool, tennis court, home cinema or wine cellar. Not only are these home improvements not profitable, but their upkeep can often put potential buyers off!
Whichever of the above improvements you choose, budget in advance. A survey from online marketplace Rated People found that more than two-thirds (some 68%) of respondents had not done this, while nearly one in five (18%) had to put a home improvement project on hold after their money ran out.
Only 21%, stayed within budget, and two-thirds dipped into their savings to complete a project.
How We Can Help With Your Windows & Doors
At Paradise Windows, we help customers stick to a budget with clear, transparent pricing from the outset. And we’ve supplied replacement double-glazed windows and doors across Oxfordshire for more than two decades. Talk to us about home improvements today.