Some pointers when planning to Upgrade
Adding value to already luxurious abodes is made easy with these ten expert improvement tips
It is often glaringly obvious how to add value to an inexpensive property. Adding or converting space in a small house, repairing the bones of the building where needed, or upgrading outdated decor should see a return on the outlay.
But what about homes that are already at the upper end in price? Buying a seemingly perfect house in pristine condition can leave little room to add value – and there is always a danger of gilding the lily.
While it is a fortunate dilemma to have, mistakes at this level of the market can be very costly.
But James Hilton, regulated mortgage advisor at wealth management firm Arbuthnot Latham, says: “Making strategic improvements can significantly elevate the appeal and value of a property.”
You just have to know where it is best to invest. With that in mind, this week the company put together ten points of advice for luxury property owners to consider when thinking of adding value.
1
One of the most effective ways to increase the value of any residence is through architectural renovations. This can involve expanding the living space, but also includes adding unique architectural features, a guest house, or self-contained apartment. 2
Thoughtful interior design, using premium materials, such as marble, granite and exotic woods, can create a lavish atmosphere. Custom furniture and artwork can further emphasise a property’s exclusivity. 3
Incorporating the latest in smart home technology can significantly enhance a high-networth residence. Features such as automated lighting, security systems, climate control, and entertainment systems will increase value.
4
Landscaping can add a little extra, particularly installing amenities such as a swimming pool, an outdoor kitchen, or a designer garden to elevate a property’s appeal. 5
Eco credentials are increasingly sought after. Installing energy efficient appliances, solar panels, and advanced insulation are all plusses. 6
High-net worth individuals often prioritise security and privacy. Implementing state-of-the art security systems, surveillance cameras, and secure entry gates can make a residence more appealing. 7
Kitchens and bathrooms are focal points in any home and a major selling point. Investing in top-of-the
“Incorporating the latest in smart home technology can significantly enhance a high-net-worth residence”
line appliances, custom cabinetry, and quality countertops can make these areas stand out. Spa bathrooms with jacuzzis, steam showers, and heated floors can add tremendous value to your property.
8
Creating dedicated entertainment and recreation areas can make a residence more desirable. Consider adding a home cinema, a drinks bar, or games room.
9
Health and wellness have become a central focus for many. Incorporating a well-equipped home gym, yoga studio, or even a wellness spa can set a residence apart.
10
Lastly, consider adding unique features. This could be a private rooftop garden, an underground wine cellar, or a personal elevator for a touch of extravagance. These distinctive elements can significantly increase the residences allure and value.