The best way to enhance the value of your property is through home renovation projects. British residents spend over £80 billion annually on home renovations and repairs. Some home renovation projects are worthwhile, while others will increase the home resale value. Focus on the latter!
An important question you must ask yourself before embarking on any home renovation or improvement project is: ‘will it increase the market value of your house?’. This matters regardless of whether you are upgrading your home for the sake of functionality or because you intend to list your property for sale. This article will enlighten you on how you can add value to your property, from composite deck additions to kitchen renovations to landscaping.
Are there any upgrades or improvements that can help boost the market price of your property? Let’s analyse some of the worthwhile home improvement projects for your home.
Bathroom and kitchen remodelling
Among the most common types of home upgrade projects are bathroom and kitchen renovations. A homeowner can recover as much as 70% of his investment costs from a bathroom and kitchen overhaul. Ensure you replace old plumbing, worn-out vanity fixtures and install new lighting. If necessary, do a replacement of the chipped floor tiles. Through these improvement projects, you will get much value for your investment, and your bathroom will have a refurbished, highly functional, and stylish appearance.
You will also need to replace the shower, vanity, flooring, toilet, and tub if you plan to do a complete remodelling of your bathroom. To further increase the market value of your property, consider energy-efficient upgrades.
Outdoor decorative elements like pools, fire pits, and decks are known to extend the living space of any property while enhancing the functionality, aesthetic appeal, entertainment, and relaxation value of the area. But do they enhance the value of our property when we resell them?
Yes, it is true!
Fences: Thanks to a new fence, your home will have increased privacy, and your children and pets will be protected. It can also positively affect the beauty of your home’s exterior, contributing to curb appeal. For these reasons, fence addition can increase your home’s valuation.
Deck: Investing in a new deck can be expensive, but it has a high return on investment. Low-maintenance decking boards, like composite decking, can increase your home’s outdoor living space while saving expenses in the long run. A deck price may add as much as 80% value to a property.
Fire Pit: Fire pits can help warm your yard in the winter. It is always a great idea to install a fire pit because it can increase your property’s functionality while adding cosiness and comfort. Prospective buyers will truly benefit from additions like this.
Swimming pool: Although swimming pools are fantastic for hosting parties and relaxing, they won’t give you much investment returns. It is very expensive to operate and maintain.
Paint your home exterior
A budget-friendly way of refreshing your home appearance is by giving the wall a lick of paint.
Ensure you recolor any peeled or chipped walls on your home exterior. Also, use a power washer to eliminate mould, debris, and dirt on the wall. You can paint your front door with vibrant colours to create an eye-catching exterior.
A great way of beautifying your home’s exterior is by cultivating flowers and other ornamental plants around the area. Adding greenery to your property will increase its appeal. To get the best value for your money, grow perennial plants as they bloom early and return yearly. Make sure you trim an overgrown shrub, bushes, and trees to add to the landscaping.