Renovating? This is how you increase your property value
Planning to renovate? It is useful to know which improvements typically boost your property’s value. That way, you are not only investing in your home but also increasing its potential resale value. Here are three tips to make your renovation work for you!
1. Insulation
Proper insulation of your home provides immediate benefits: you can save up to 30 percent on your gas bill. Furthermore, potential buyers appreciate a well-insulated roof, walls, and floors. In other words, you can easily recoup your investment. You could also consider installing double glazing. This reduces energy costs and, if you live on a busy street, it also helps to minimise noise pollution.
2. Address overdue maintenance
As many as 68 percent of homebuyers say they prefer to purchase a property that is "finished" or move-in ready. It is therefore always worthwhile to carry out maintenance on your home. Think of repairing the roof, laying a beautiful parquet floor, or giving the walls a fresh coat of paint. You will enjoy the improvements yourself once they are done, and it can make your property much more attractive to potential buyers.
3. Creating space
Space is highly valuable, especially in urban areas. The size of a property greatly influences its price. If you have an unused attic, you could make it liveable and install a permanent staircase for access. Alternatively, you could extend your home by adding a dormer window or a conservatory. You will immediately benefit from the extra space, and it could increase your home's value when you decide to sell in the future.
Renovating your bathroom or kitchen?
Are you considering a new bathroom or kitchen? Bear in mind that tastes can vary greatly. You may prefer a country-style kitchen, while a potential buyer might favour a more modern design. Renovating a kitchen or bathroom is therefore more about enhancing your own living comfort rather than significantly increasing your home's value.
