Renovating or making improvements on certain rooms or areas of a home can provide a great return on investment (ROI) when it comes to selling your property. If you are wanting to increase the value of your property, you should consider making some of the following changes to improve your potential ROI when you decide to sell up.
One of the ways which can potentially bring you the highest ROI in terms of home improvements is from the addition of a conservatory, with estimates that it can deliver an impressive 108% return on investment. Providing conservatories are no more than half the area of the land that the original house covers, you won’t require planning permission to do work. Additionally, under most conditions, your conservatory will be exempt from Building Regulations. There are several different options for improving a conservatory, but the average cost is around £5,500.
Although often expensive, kitchens are often one of the first renovation jobs that homeowners look to make, either when moving into a new place or when looking to sell a property. If you can provide a modern looking ready-made kitchen, buyers may be more willing to go for your property, as it saves them the hassle of doing up the kitchen once they move in. The average return on investment for kitchens tends to be around 50%.
However, if you are planning on doing up the kitchen with the intention to sell your property on, it’s recommended that you keep things simple, rather than adding too many personal touches. You want the room to appeal to everyone, so it’s better to keep it simple instead of having a unique style in the kitchen.
Similarly to kitchens, bathrooms are often one of the first rooms that homeowners look to do up if the original bathroom is not up to standard. Again, you can potentially attract more buyers by ensuring the bathroom is done up to a modern standard and has been well maintained. Improving your bathroom can again give you an average ROI of around 50%.
Loft conversions can often be the most expensive home improvement you can make, however, they can immediately add value to your property and the room itself can bring in an ROI of around 50%. Loft conversions are an effective home improvement and doing one can give you more space in your current home rather than moving house.
If you are planning on moving, however, it can still be worth completing a loft conversion as they offer a high ROI. It may also make your property appeal to a wider group of potential buyers who are browsing the residential sales market, as lofts can provide space for an additional bedroom.
One of the simpler home improvements you can make throughout the entire property, putting down new carpets can bring in a healthy ROI of around 50%. New carpets help to make your property look and feel modern and can help set a good initial impression on potential buyers. Old carpets that are covered in stains can be instantly off-putting for viewers, so if your current carpets are in bad condition, it may be best to just strip them out and start again.
Your carpets may still be relatively new or still in good condition, so if this is the case, giving them a deep clean may suffice and can help to bring them back to life.
One of the best home improvements you can make is arguably on your home exterior and doing up the garden is one of the best options. Appealing, well looked after gardens can add a great amount of kerb appeal and help to set a solid first impression whenever anyone comes to view the property.
Well-kept gardens can be appealing for prospective buyers, as the hard work has already been done – which means they will just need to maintain it rather than start from scratch. Doing up your garden tends to add an average ROI of 88%, so it’s one of the most valuable home improvements you can make.