Increase the Value of Your House
Whether you’re planning to move or simply improve your house or property, it is nice to know that home improvements or renovations which you will be making will be adding value to your property for the future. Therefore, you should be seeing work or renovation on your home as a long term investment, which could have very lucrative payoffs at a later date.
Consequently, as with all investment, it is essential to be taking into account the potential return on investment you could get, which is why we have decided to share with you 5 of the most profitable home improvements you could make on your property.
Building a Conservatory
Images from FrameMaster
A conservatory gives homeowners an extra room with the small sacrifice of garden space. This is an attractive home improvement for owners as, besides creating a beautiful new space which gives your home a modern look, a conservatory is a sound investment that will add value to your home.
A very attractive addition to your home and will attract buyers to your property. As we’ve said before, a conservatory is an asset that you will undeniably be able to see a return on when you sell. A new or recently built conservatory, according to This is Money, can give the homeowners 108% return on the capital invested.
Depending on the state of your garden, they are often some of the improvements with the smallest initial cost, yet could potentially generate the largest returns. However, most homeowners trying to sell their homes will forget about their garden, even though a poorly entertained garden can be a deal breaker. This is why it is crucial that you ensure your garden is perfectly manicured when trying to sell your house. In addition, investing in improving your garden will not only add overall value to your house, but more importantly enable you and your family to enjoy spending time outside, as well as potentially increasing the living surface area of your property.
There are simple improvements such as planting new trees or repainting fences and garden furnitures, which are quick wins. Straightaway, you will see instant results, giving your garden a breath of fresh life hereby increasing its potential to drawing in potential buyers. Planting young trees work wonders with young couples, especially if they’re expecting a child, as this will enable them to project themselves and their child growing up there.
Then there are much larger projects like having a garden room or patio constructed, or a water feature added, which are greater investments to your property, however, the potential ROI is significantly higher, and the personal benefits you will gain for them much more enjoyable.
According to a This is Money article, the average homeowners can expect an average 88% return on your investment.
Replacing Old Carpet
A new carpet is a great investment to your property. If you’ve lived in your home for some years and have not changed the floor carpets since the previous owners’ ones, this is probably one of the best moves you could make to help sell your home.
An old carpet can make your home look old and aged, which can be off putting to potential buyers. Having new carpets installed and fitted can instantly rejuvenate your house, lighting it up or warming it up depending on the colour or material chosen.
The average homeowner spends around £4,000 on new carpeting and sees a 50% return on that investment. It’s a great improvement, which you can not only enjoy yourself, but can also count on to contribute towards increasing the value of your house.
Attic/ Loft Conversion
Loft conversions are some of the most popular home improvements owners have been making to their properties in recent years due to leniency in planning permission when compared to other living surface increase work, provided there is minimal impact to external structure of the property. As you will be aware, increase the surface of your property will increase its value substantially, and notably considering the market over the past years, which is expected to continue moving in this direction.
This is a large investment for homeowners, depending on the property, but you can expect a considerable return on your investment, depending on whether you are looking to sell straight away or not. With a loft conversion, you’ll be adding an extra bedroom and create more space in your home without “extending” your property, hereby also increasing the space you enjoy living in.
The average homeowner who invests in a loft conversion can expect an average 50% return on an important investment. Again, loft conversions are very attractive to potential buyers and gives your property a chic, modern feel.
A renovated or new kitchen is a great addition to your home and instantly gives your home more value. While you’ll find yourself either eating takeout or at someone else’s home while your new kitchen is being installed, it is worth the inconvenience, as the kitchen is nowadays one of the rooms most lived in, and are consequently at the very heart of every house or property.
HSBC has observed homes with a newly added kitchen can increase in value by £5,000, depending on the property and renovation. This is Money predicts a 50% return on the investment. Needless to say, this is a brilliant move. Especially if you have an older property and want to inject some new life into it, then a new kitchen is the way forward.
If you’re interested in both improving your home and adding value to your property, have a look at our range of conservatories, orangeries and other glass extensions.
At Framemaster, we pride ourselves in providing clients with bespoke products and services, to best suit their home and personal timetable. To discuss your needs and requirements, please get in touch with us.