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Why should I increase the value of my home?

Increasing your home’s value can benefit you in a number of ways. If you’re looking to sell you can use the extra money to buy something nicer or if you’re planning to rent it out, you can charge more per month.

The question is ‘how do I do this?’ Well surprisingly there are more ways than you would expect. The first, and most important thing to note is that what works for your house will depend on where you live and the house itself. Look at houses in your area and see what separates the great from the good. Of course, size will be a huge factor but there are many other reasons as well.

Let’s start with one of the big ones, energy consumption. In a world of constantly rising energy bills a more efficient house means a cheaper future.

Efficiently Increasing your value

When selling or renting a property, an EPC is required. An EPC rates the energy efficiency of your home and a higher score means a higher value for your house. It’s not just about how friendly your house is being to the environment, but also how much money you will save from its efficiency. Depending on where you live, you could increase the value of your house by up to 12%.

Some elements to achieving this are easier than others. Changing all your lightbulbs to energy efficient LED bulbs and sealing up air leaks near doors and windows is a good start. After that the projects become a bit more intense, both physically and financially.

The thing to remember is that the point of doing all of this is so that when you sell your house you make the money back plus some additional profit. Keep that in mind when deciding what to upgrade and how much to spend.

Insulation. If your insulation isn’t good enough you are literally leaking energy as you read this. You want to insulate as much as you can: walls, floors, ceilings, water pipes, upgrading to double or even triple glazing and an energy-efficient mechanical ventilation system that minimises energy loss. The point is there is a lot of ways you can insulate, so start where it is needed most and go from there.

Appliances upgrades. This is where it can get pricey but this is also where so much energy is unnecessarily used. Your appliances energy usages are rated using energy efficiency labels, which are usually rated from A+++ to D, where A+++ is the most efficient. Find out how much energy your current appliances use and what their efficiencies are. From here you can figure out which ones you should replace first.

Who are you selling to?

A consideration few people make is who is likely to buy their house. If you’re thinking of changing anything around, think of who is likely to buy your house and what they would want. If you have a one or two bedroom house and lots of families with kids live near you, perhaps another bedroom is the way to go.

This is important to keep in mind when thinking of ways to improve your house. After all, there is no point in spending thousands on upgrading and converting things that most buyers in the area won’t be interested in.

Conversions and Extensions

Converting rooms can be a great way to make a house more appealing to potential buyers. A room that isn’t used much or one that could serve a better purpose may increase the value of your property, if converted to the right type of room. Remember, when doing this type of work, check to see if planning permission is required.

Likewise, extensions are a great way to get more square footage in a house. Depending on the space around your house you can choose between an extension upwards, downwards, or outwards.

Lofts and basements are a great place to start. Extending outwards isn’t always an option, especially in crowded areas, but up and down is usually far more straightforward. If you already have the space, consider converting it into a bedroom, home office, gym or if possible, an extra living space to rent out.

The beauty with a garage is that it’s separate from the rest of the house, giving you versatility in what you can do with it. If you’re looking to turn it into a cushy office or a guest suite, you have the privacy of not being part of the house. This is extremely appealing to people who need peace and quiet, whether it’s so they can get important work done or have some alone time when visiting family.

You can convert the rooms you have into whatever rooms you want, that’s the fun of it. Just remember to keep in mind what the costs are to renovate compared to how much you will gain in house value.

Renovations

If some of your rooms are looking a bit dull or drab, then a renovation might be in order. Renovations can bring life into rooms that are tired, boring or just out of style. Every room can be renovated, the question to ask yourself is ‘which one first’?

A renovation should consist of updates and upgrades, the best place to start is where the room lacks the most. You have many options for what you can do with a room. Every change from wall paint and curtain type, to flooring material and new door handles, can create a significant change to the feel of a room and its value.

The beauty of this is that one change can make a huge difference and may be all a room needs. The renovations can be small and simple and most importantly they’re your choice. I would always recommend looking at current trends and seeing what sells the best on the market before making any important decisions. But this is your house, and no one knows it or what it needs as well as you do.

The outside

So far in this article we have focused on the inside of the house but it is important to focus on the exterior too.

Parking spaces are a luxury, especially in busier town and city areas. If you have the facilities, consider changing your street facing garden to a personal parking space. This is extremely convenient for anyone who has had the stress of living somewhere with not enough parking and will add some decent value to your house.

This final suggestion is more of a long term one, an electric car charging point. Although at this current time it may not be as appreciated, eventually they will become more and more commonplace. Having one early will increase the value of your property down the line.

What is most important?

What you should do to your house is a combination of: what is trending, what you like the look of, and what is within your budget. Always research the value of what you will get out of an upgrade before choosing how much to spend on it. Think about who you’re selling to and what they would like in a house.

Stay safe and good luck with the DIY.

 

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