Homeownership generally necessitates being aware of property value, whether you are hoping to sell your home or simply want to ensure it remains a safe investment. While much of its value is connected to market trends and regional changes, there are a great number of options available that can directly improve the value of an individual property.
Renovations can be, of course, a significant undertaking. Depending on the infrastructure being affected, they can result in a large financial cost, as well as the lengthy compromise of living spaces. For this reason, few are readily enthusiastic about undertaking these home improvements. However, those who do find that the short-term hurdles have a great long-term reward, especially in the improvement of their home’s value.
Loft Conversion
Those with loft spaces, especially those with accessible spaces that are large enough to accommodate spare bedrooms, are in a great position. This is because loft, or attic, bedrooms are in great demand, especially among families. What would be left as an otherwise unused space, or perhaps one dedicated to storage, can become a bespoke bedroom space that tends also to have great access to natural light and warmth.
Such a conversion is expensive and can be estimated to cost upward of £60,000. However, in the long term, adding an extra bedroom to a property dramatically increases its value.
Extensions
Building your property outward, generally into a garden space, can greatly improve your living space. Kitchens, for example, can go from confined areas and because open plan dining rooms with cooking facilities. Extensions can also improve the amount of natural light a home receives, brightening a living space.
Building outward does require outdoor space, however, and those who want a larger internal living space must compromise some of their garden.
Outbuildings
A far more affordable option for those with gardens comes in the form of outbuildings. Summer houses, cabins, and shed conversions each give homeowners access to a larger amount of living space without the need for lengthy periods of construction. For those wanting a private office space or a garden dining area, having access to such a structure holds great appeal. Outbuildings can be designed and installed with notable efficiency, making them one of the best return on investments for homeowners.
Replace Boiler
Switching out or upgrading a boiler for a newer and more efficient model can be a significant investment, especially if it necessitates renovating a home’s entire heating system. However, boilers are at the heart of a home’s EPC rating, as well as the ongoing cost of heating a home, which, at a time when energy costs are notably rising, can be a very appealing home improvement.
Install Solar Panels
Another energy-related investment is the act of adding solar panels. The installation of these assets is growing in popularity, partly because of their new affordability and efficiency but also because, once again, of rising energy costs encouraging homeowners to find ways to improve their home’s consumption. Solar panels are a superb renovation project because they currently add a much greater amount of value to a property than they cost to purchase and install.
