Spending the money now to invest in your home will allow the value to increase over time. Here are our top five renovation tips to adding value to your home.
The property market is still very much in a recovery stage, with most experts suggesting it could be 3 – 4 years before it starts to enjoy growth again. This has resulted in home owners finding it harder to buy a new home and are turning to renovation projects rather than relocating. Spending the money now to invest in your home will allow the value to increase over time.
Here are our top five tips to adding value to your home.
Most experts suggest that when it comes to upgrading and renovating a room in your home, the kitchen is the place to start. It is the most valuable room in terms of worth per square metre and when buyers are looking at a house, an updated kitchen is a high priority. It doesn’t have to be a case of “out with the old and in with the new”. A few simple changes can make a big difference. If your appliances are old and dated, look at upgrading these to modern, stainless steel fittings. Adding new cupboards or handles and even looking at changing the counters can be a quick, affordable way to adding long term value to your kitchen. If the time has come to totally upgrade, be sure to look at modern designs. A bright fresh looking kitchen will make any future sale easier and prospective buyers will take notice. Avoid a flamboyant elaborate design as it can have a detrimental effect when it comes to a resale.
Transform the Master Bedroom
The master bedroom can really make an impact on a potential buyer. Sometimes it can make or break a sale. There are a number of quick ways to improve the look of your master bedroom on a budget. Redecorating can include painting the walls and ceiling, installing new flooring and updating the lighting fixtures. If you have a little more money to spend, adding an en suite bathroom or building additional closet space will add value to your home. These two improvements are usually at the top of a potential buyers’ “most wanted” list.
Upgrade to Double Glazed Windows
Think of the front of your home as the face of your house. The door is your nose, the windows your eyes and the roof your hair. When it comes to selling your home, you will want to make sure it makes a great first impression even before a potential buyer enters the house. If you don’t have double glazed windows then you need to be thinking about installing them. Double glazed windows are a minimum requirement for most buyers today. While you may need to invest some money initially, you will reap immediate savings from your reduced heating bill and enjoy the elevated value of your house in the long run.
Home owners today are becoming more environmentally conscious and expect houses to be energy efficient. Ensuring that your home is “green” adds value to your property and makes it easier to sell in the future. Insulating your loft and cavity walls prevent your heating costs from literally going through the roof. Cavity wall insulation is more expensive than loft insulation but there are grants available to make it more affordable for home owners.
The floor is often at the bottom of the list when it comes to upgrades in the home. Like most home improvement projects, deciding on flooring will depend on the available budget. Most consumers look for durable, hard wearing flooring that will stand the test of time. Vinyl, linoleum, laminate and carpet are all at the low end of the spectrum in terms of cost, while tiles, hardwood, stone and marble are all more expensive but will last longer. You will also need to consider installation costs as some floors will require an expert to fit them. Others such as laminate flooring and PVC floor tiles can be fitted by any competent DIY enthusiast using the interlocking click fitting mechanisms. Keep in mind that your floor will take the most abuse over the years so investing in quality flooring is a wise investment.
Whether you are planning to sell soon or remain in the house indefinitely, you will enjoy living with these upgrades while increasing the value of your home.
About the Author:
Nial Toner writes content for Flexi-Tile a PVC flooring specialist from the UK. He is also a keen DIY enthusiast and enjoys travelling around Europe.
Photo: the kitchen designer