Increasing the functionality of your property is a task that millions of homeowners have undertaken in years past. No longer are traditional homes meeting their needs, so modern updates and renovations are necessary to increase living space and functionality or update old aspects that are no longer suitable for modern lives or building regulations.
Fortunately, many of these changes can increase the property’s value. Not only are you putting your own stamp on the building, but you’re also improving your investment should you wish to sell up and move on.
But where are the best areas of your home to improve to increase both value and functionality?
Loft Conversion
If you’re short on space and you can’t extend out, then you need to go up. These days, there are countless options and styles for loft conversions, allowing you to unleash your creativity and personalise the space at the top of your property. From adding dormer windows or skylights to a balcony opening onto a flat roof for the ultimate in luxury, the possibilities are endless. A well-designed loft conversion, tailored to your unique needs and preferences, can add between 10% and 20% to the property’s value, making it a truly exciting and worthwhile investment.
Conservatory
Conservatories are a great addition to any home, and they are currently a popular choice for homeowners seeking to expand their property’s space quickly. Oftentimes, they can offer you a considerable increase in living space, and even cheaper options can add a significant sum to the value of your property. It is thought that a conservatory costing around £10,000 can add up to £22,500 to the value of a property (size, style, materials, etc, depending).
A Garage
Not everyone has the space to add a garage to their property; however, if you do, this can be a valuable asset sought by many potential buyers. If you want to add value and make your property more enticing, then a garage could be precisely what you need. Even if you don’t initially use it for a vehicle, the space is increasingly flexible. It can be used for various purposes, including storage, a home gym, an office, a pet room and a playroom, to name a few ideas. This versatility ensures that a garage is a long-term investment that can adapt to your changing needs. Additionally, a single garage can add up to 7% to the value of your property and yield a return of 35%.
Landscaping
Improving the outdoor areas of your property can be the ideal investment, and not only can you develop your garden into a luxury oasis to relax in and enjoy, but you can also make a wise financial decision. A well-landscaped garden can be incredibly attractive to buyers as they won’t need to go to the effort of doing it themselves. On an average 3-bedroom home, you can increase the value by up to £10,000, while a more modest spending of around £5,000 can give you a 50% ROI, making landscaping a high-return investment that enhances both your property’s value and its appeal.
I hope these have helped your to decide on which Home Renovations to Add Value To a Property.