* Adding Value to your Home  *

Your home is probably your largest single asset. Avoid some of the pitfalls and find out where you could add most value...

 Selling your Home? Low Budget Improvements?

When you sell your home you want to maximise its value. Just a few simple improvements can really enhance the appeal of a property, making it sell quicker and hopefully for a higher price!

A clean, bright room immediately gives a positive impression. Freshening up paint, pulling up old carpets and hanging a few pictures to give a room life can cost relatively little, but has a huge impact. Dated or worn sofas and chairs can be covered with neutrally covered throws and colourful cushions.

Window boxes and hanging baskets add colour, emphasise the outdoor space and make a home look cared for. Viewed from inside a window box can help to disguise an unattractive view and increase privacy.

The costs of replacing a discoloured toilet bowl, making sure all the windows work or getting rid of dead trees and shrubs are small compared with a large home improvement project such as adding a bathroom, but can have a big and very positive impact on prospective buyers. Cleaning up taps and sinks with vinegar or limescale remover and cleaning grout with specialist cleaners will really revive a tired looking bathroom or kitchen - the rooms which buyers consider the most important. Its also worth getting a window cleaner round so that grimy windows don't let you down.

Getting a few simple jobs done creates an improved home environment that will greatly increase the chances of selling your property, and may even increase the potential asking price.

 Golden Rules for Reconfiguration...

  1. Never improve a house to the point where you need to sell it for more than 20% more than the most expensive of the other houses in the immediate neighbourhood.
  2. Knocking through walls may provide additional space but will also provide fewer rooms - any reduction in rooms could devalue the property.
  3. Never rearrange the interior of your house in a way that reduces the total number of bedrooms to less than three.
  4. Be aware that you are unlikely to recoup the costs of adding a third bathroom to a two-bath house.
  5. Find out if your improvement / renovation requires planning permission or building regulation approval.

 When to Add Another Bathroom?

An extra bathroom should keep its value, as long as it is not built at the expense of a bedroom. However if the property is large with at least five bedrooms and only one bathroom then converting a bedroom into a bathroom may pay off. But you are unlikely to see your money back if you add a third bathroom to a two-bathroom house.

 Renovating Period Properties

Make sure any improvements are appropriate to the character of the property. Try to avoid replacing old features - such as stained glass, picture rails and original skirting boards with modern ones.

 Tips on Installing Double Glazing

Double glazing is expensive and you are unlikely to recoup more than a third of your investment when replacing single glazed windows - though over time you will save on household heating and electricity bills.

Secondary glazing on the inside of existing windows may be preferable to double glazing for a period home with original features.

 Stripping Floorboards

Stripped wooden floors can look attractive and retain less dust than carpets, but you need to ensure the boards are of good quality.

 Installing a New Kitchen or Bathroom

The two most important rooms are the kitchen and bathroom - most developers agree that money spent on these is money well spent - but you don't need to spend a fortune.

For kitchens, consider combining standard units with a good quality worktop and decent appliances - if done well you'll add value to your home.

For bathrooms, have a look at retailers such as bathstore who make their own 'designer' fittings for a fraction of the cost of designer branded equivalents.

 What About Central Heating?

Central heating can be expensive to install in your home but future potential purchasers may be put off if you don't have it, so you should recoup your money with this improvement. If you are doing extensive work to the house, consider underfloor heating which gives an even heat and frees up wall space because you will not have to install radiators.

 Should I add a Garage?

Garages and off street parking are sought after features and will almost certainly recoup an investment.

 Is a Swimming Pool a Good Investment?

A swimming pool may add glamour to your property, but potential buyers may be concerned about security risks for small children and expensive running costs. Be warned, a pool may recoup as little as 10% of the initial cost.

 Loft Conversions

Loft conversions require you to adhere to many regulations and permissions. The type of loft conversion you can do very much depends on the condition and structure of your existing property. The majority of lofts can be converted, giving you an attractive and large additional living space.

Done properly a loft conversion will increase the value of your home considerably. A future buyer's surveyor will (or should!) check on the permissions for the conversion, and its compliance with the relevant regulations. Ceilings are designed only to hold what is already there and even a cold water tank has to have its own platform within the roof void. Loft conversions are therefore a specialist job.


Did you find this helpful? If you have further ideas or comments then please let us know - we'd appreciate your input!