The home improvements you make are not only about making your living space more comfortable and appealing; they also play a key role in boosting the overall value of your property. By changing things up, you’re making it more attractive to potential buyers.
If you’re at the stage where you’re considering selling your home and moving on, it’s likely you’ll now be focusing on how to boos its value. But it can be overwhelming to consider making all the possible changes at once, so it’s essential to come up with a plan.
If you’re looking to sell, here are some ideas to help work out your next steps to help boost your asking price.
Begin this process by thinking about your budget. Some updates might require more financial investment, especially if it’s been a while since you last renovated your property.
Do you have savings in place? This could be an option to ensure you can fund the improvements you want to make. Alternatively, if you meet the criteria for a lifetime mortgage, then equity release could be a valid option.
Once you have your finances in order, you can work out how you want to change tings and the projects you’d like to focus on. Some ideas include:
Cellar and loft conversions
Transforming neglected spaces like cellars or lofts into functional living areas can significantly contribute to your home’s value. Although it involves a financial commitment, the return on investment can be substantial, adding as much as 20% to your property’s value.
Converting these spaces into additional bedrooms, home offices, or recreational rooms not only adds square footage but also enhances the versatility and appeal of your home. In fact, now that more of us are working from home, many house hunters are searching for office space that’s separate to the rest of the home.
Before embarking on such projects, it’s crucial to consult with professionals to ensure these spaces meet safety and building code standards.
Refresh the bathroom
A dated or worn-out bathroom can be a major turn-off for potential buyers. Therefore, investing in bathroom improvements can yield a high return on investment. Consider modernising fixtures, upgrading tiles, and installing energy-efficient appliances.
A stylish and well-maintained bathroom not only adds value to your home but also enhances the overall aesthetic appeal. It’s worth following the trends to bring it right up to date. However, it’s essential to strike a balance between functionality and luxury, ensuring that your investment aligns with the expectations of potential buyers.
Breaking down walls
For those looking to make a bold statement and substantially increase their home’s value, creating an open-plan living space can be an appealing option. This involves removing walls to merge traditionally separate areas like the kitchen, dining, and living rooms.
Open-plan layouts are popular for their contemporary feel, maximising natural light, and creating a sense of spaciousness. Before making such a significant change, it’s advisable to consult with professionals to assess the structural considerations and obtain necessary permits.
How will you update your home to boost its value?