If you’re trying to work your way up the property ladder, then one of the best ways to ensure you can get the best price for your existing place to allow you to go a bit higher next time is by increasing the value of your home.
Depending on when you’re looking to move on, you don’t need to do everything all at once, and you certainly don’t need to undertake all of these projects - you may have a little less work on your hands already if your place is more of a modern build, anyway.
Some of these value-increasing tips will cost more than others on the list, and all of them are quite time intensive, so it’s always worth seeking the advice of a professional, not only for the best approach to go with when renovating, but also to see if there are any limitations as to what you’re allowed to do.
Certain planning permissions are sometimes required for bigger renovations, especially when they cause changes to the structure and appearance of your home and/or the surrounding area, so always make sure you have all the legalities in place before you go ahead as this could land you in trouble and cause you to lose a lot of money as well as having to un-do the renovation work - this is really not a situation you want to find yourself in.
With that being said, here are some great tips to help you increase the value of your home.
Convert Your Basement Or Attic:
Do you have additional space at the top or bottom of your house, such as a basement or attic that just sits there not really being used? Depending on the layout of these spaces, and the accessibility of them, converted attics and basements are amazing ways to increase the value of a property. There are so many ways you can go with this, whether you want to turn them into extra bedrooms, a small apartment for a teenager, or even a family chill out area and game room, you can really get creative with these spaces, but the value they add will be a huge plus when it comes time to sell up.
Turn Your House In Multiple Properties:
For this one, you’ll most likely need planning permission, and it’s not going to be cheap, but if you’re able, and you’re willing to consider it, the financial benefits of converting one house into multiple smaller properties can be one of the best investments you ever make. Instead of just selling one place, you have the option to sell multiple places or rent them out, which creates a consistent cash flow for you - especially if your property is located in a highly sought after area.
Convert Your Garage:
Does your home come with a garage that you don’t use? Maybe you don’t drive, or your car has a place outside to be parked so you end up just using your garage a general junk and storage space.
Garage conversions have become pretty popular recently, and for good reason. Not only can they add a whole new space to your home that can be used for things like a small apartment, an extra bedroom, or even just another miscellaneous room the whole family can benefit from, but a converted garage will actually add more value to your house than a regular garage will.
Plus, when you take on the task of converting your garage, you have a great excuse to get rid of all the old junk you have lying around and get de-cluttering.
Add An Extension:
Extensions are a hugely popular and surprisingly easy way to create more space in your home and add a good bit of value to it. Extensions can be added to pretty much any area of the home where the outside space and structure of the home permits, so whether you want to add an upstairs balcony or terrace, or want to add to the living area or kitchen downstairs, then an extension is the perfect way to do this.
The best way to approach the building of an extension is to speak with a professional building company who specialise in this area. They will walk you through everything step by step, show you model extensions and give you proper mock ups so you can see what the end result will look like.
Add A Pool:
Who doesn’t want a house with a pool? It’s pretty much the ultimate lifestyle goal when it comes to property, and although they do require a good bit of upkeep and maintenance, don’t exactly come cheap, and may not make sense in all parts of the world, a pool will massively increase the value of your home.
Obviously you have to ensure you have the space for a pool, though when you approach a specialist pool company to help with this, they will advise you on the size and type you should be going for, as well as keep you right when it comes to things like onga pumps and how to keep your pool clean and not use unnecessary amounts of water.
Even if you live in a climate where you think you won’t get the benefit of a pool, there’s always the option to have a heated pool, or an indoor one that can be built under an extension area to the property. These may cost a little more, but will add more value in certain places if people are actually able to get the use of them.
Landscape The Garden:
When thinking about how to add value to a property many people overlook the outside of the house, which is a big mistake because it can really make such a difference when it comes time to sell. The great thing about landscaping or gardening in general is that it actually doesn’t need to cost a lot of money to be effective.
Unless this is something you’re experienced in then your best bet is to speak with a professional landscaping company who can help you create something based on the space you have available. If you’re looking for some gardening inspiration and ideas, then you’ll definitely not be short of that online, so have a look and see what you can come up with.
Add A New Bathroom:
Especially in a family home, you can’t really have enough bathrooms, so if space permits, then you can either add one through an extension to your home or you can convert an old room into a new bathroom.
If you really don’t have the ability to add space, then simply renovating a bathroom and adding a new bathroom suite can also increase the value - especially when you go with energy-efficient and up to date appliances and furnishings.
When adding a new bathroom to your home, it’s definitely best to speak to a professional who focuses on this, because they will be able to guide you through creating a bathroom that really works within the space available and will show you different layouts and designs that you can choose from so that you maximise both the space and design potential of your new bathroom.
Create An Open Plan Layout:
Open plan layouts are hugely popular - and most new builds actually focus on this for the most part due to it being so popular.
The reason for this is because it really creates a feeling of spaciousness - even in the smallest of areas.
Open plan also gives a room or house a more modern feel which is something that appeals to a lot of people and will definitely increase the value of your home. The other benefit that many people sometimes overlook is that it can be more energy-efficient as hot and cold will be distributed more evenly instead of being confined to one room, so you may find that heating costs go down.
Make It More Energy Efficient:
Nobody wants to move into a place where they lose a lot of money each month on heating and electric costs because of old internal appliances and structures. To make your home more energy efficient, you could look at getting new windows installed, install solar panels, improving insulation, and even changing your floors.
To really ensure you make your home as green as possible, then you should speak to energy companies that focus on this, and even independent energy and solar consultants or companies who will be happy to advise on what things to implement in your home to make it more efficient.
You’ll be surprised just how much value this simple step can add to your home.
As mentioned above, you don’t have to take on all of these projects - in fact it’s recommended not to because the costs would be extremely high and the work could take years to carry out, so that’s a lot of disruption.
However, hopefully this has given you some good starting points to consider so that you can take a look at your home and see which of these would make sense for you. There’s definitely no right or wrong answer, but these will absolutely add value to your home should you wish to sell it later.