Ten ways you can add value to your property
OUR home is our greatest asset, and according to a recent Halifax home improvement survey, 58 per cent of homeowners have undertaken work on their property in the past 12 months to capitalise on that investment.
Home renovation advice and information specialist Build It Live has put together 10 top tips for home improvement, with the recommendation that you always employ a professional to ensure work is carried out properly, adheres to planning and building legislation and is finished to the highest standard. ●● Extend your home
Increasing the square footage of your property is nearly always a money spinner and, according to the Nationwide Building Society, can add up to 12 per cent to market value.
Ensure the extension is in keeping and proportion with the existing property. ●● Add a basement
This is a cost-effective way of increasing square footage. Digging out a new basement will cost at least £80,000, but converting an existing cellar or basement can cost as little as £20,000. ●● Convert your loft
According to the Halifax survey, loft conversions offer best value for money - adding up to 15 per cent.
The most successful appear to be an integral part of the existing property, inside and out. ●● Update your bathroom
A second bathroom can add between five and nine per cent to your home, according to Nationwide. Houses with four bedrooms or more should have a minimum of two bathrooms. ●● Revamp your kitchen
A modern fitted kitchen can add anywhere between four and 10 per cent to the price of your home. Open-plan layouts are in vogue and knocking through to an adjoining room to create a large family room or kitchendiner can prove more cost effective than extending. ●● Add a conservatory
The Royal Institute of Chartered Surveyors says a good conservatory will increase your property’s value by four or five per cent. But a poorly thought out one could actually devalue your property.
Independent garden structures complete with all mod-cons are popular. ●● Period features
Buyers are prepared to pay up to 30 per cent for a character property with original features. How much you can benefit is dependent on the features you reinstate. ●● Spruce up the exterior
Buyers often decide whether they like a home before they reach the front door, so pay attention to the exterior. A smart front door is a must, while regular maintenance (painting etc) will save money in the long run. ●● Go green
Improvements from heat pumps, solar panels and wind turbines to double glazing, cavity wall insulation and condensing boilers all cut running costs. ●● Off-street parking
With parking spaces at a premium, Nationwide estimates that building a garage can add as much as 11 per cent to the value of your property. This could be even more in busy towns and cities.
The Build It Live show is coming to EventCity in Manchester on February 20 and 21. Book your tickets now at www. builditlive.co.uk to take advantage of the two for one promo offer by entering the offer code BUILD263.
●● A conservatory reaching into the garden will help boost value