How can I increase the value of my property? Here are Jeffery & Wilkes Top 10 suggestions.
With house prices still on the rise, now is the time to invest in your home and capitalise on its true value. Whatever your goal, whether you want to maximise the value of your property before selling or maybe you just need extra space for a growing family. Here’s your top 10 tips on ways to increase the space & add significant value to your home-
1. Loft Conversion
A loft conversion is one of the best ways to provide extra space for more rooms in your property without having to move. Research has shown that this can increase the value of your property by up to 20% *.
Some lofts can add an extra, 1x or 2x bedrooms & an ensuite bathroom which can have a huge impact on your living space.
Lofts need to be carefully designed by experts with experience in transforming these spaces. When done well, no valuable space is lost in awkward angled areas of the roof.
Much of the work can be carried out with minimum disturbance, as almost all the major work can be done from above without entering your home.
To guarantee the most value ensure the ensuite is designed well & if you have the space think about installing a walk in wardrobe or a stunning Juliette balcony
One word of caution- as with all major works in your house, ensure you use a company that can arrange all the legal paperwork & gain the correct local authority permission. Without the correct permission, the £1000’s you spent could actually de-value your home & put off many potential buyers.
2. Home Extensions
Extensions are a fantastic way of enhancing your living space and breathing a new lease of life into your property.
The average extension can add between 15-20% to the value of your home.
90% of Jeffery & Wilkes clients use their house extensions for a large open plan living area/kitchen.
As a tip, look at what other people have done in your area and make sure your plans for extending are reasonable and realistic compared to theirs. If you’re thinking of a single-storey, then a dramatic kitchen extension with plenty of glass & bi-fold doors looking out over the garden will boost the appeal of the property.
Kitchen islands are increasingly popular & designed with the right lighting & worktops can really add the ‘wow factor’ & most importantly add additional value to the home.
3. Add a Conservatory
Conservatories are the perfect addition to any home whatever the size. They create a wonderful new space to relax and entertain in.
The additional light it creates can flood through the home, improving the mood & feel of the property.
However it needs to be the right kind of conservatory, so it doesn’t look out of place. The best way to make it blend in is to match it to the style of the house.
Conservatories can add around 11% of additional value & in some cases can be more cost effective than a full extension.
Some conservatories will also benefit from planning & building regulations exemption, but speak to an expert for advice on this.
4. Convert the Garage into Living Space
A study has shown that around 90% of all garages in the UK do not contain a car. Most of these spaces end up accumulating all your junk, which is no way to treat potential living space! Assuming you still have off-road parking, converting the garage won’t put buyers off, and it can increase the property value significantly. What you use this extra space for is endless: a bathroom, a bedroom, playroom, gym, wet room. The choice is yours.
Often garages can be converted reasonably easily with special insulation added to the floors, roof & walls making it as cosy as the rest of the house.
This can be a very cost effective way of adding additional floor space for minimum financial outlay.
5. Refurbish and Update the Kitchen
Nowadays we see the kitchen as the heart of the home. It is used for far more than simply storing, preparing and cooking food. It must be flexible, practical and most importantly look great. A bespoke kitchen that’s been custom designed for you to suit your home and lifestyle demands, what more could you want?
Kitchens are one of the first things homebuyers look at. This can make or break the sale of your property.
Some of the features to enhance your kitchens value can include-
• Stunning worktops from Granite to Solid wood.
• Under floor heating to keep the area warm & cosy.
• Quality appliances. Think of drowndraft extractor fans (the ones that disappear down into the worktop) & ensure household brands are used.
• Specialist lighting above the island, or under the counter top and plinths.
• Built in wine coolers & coffee machines
6. Add Another Bathroom
In 2nd place to kitchens, bathrooms can be the make or break of whether someone buys your home.
The bathroom should be a place of luxury & cleanness.
Small changes can have an impact, like replacing the moldy silicone & regrouting the tiles or freshening the paintwork.
If the bathroom needs a complete overhaul, ensure it is designed by experts.
These rooms are often not the largest of spaces so careful thought needs to be put into how to maximize the rooms appeal.
Popular choices to add value & luxury are wetrooms & fully tiled walls.
Often you can make a room feel expensive & classy by spending your money wisely on the taps & accessories which don’t need to blow the budget.
7. Convert the Front Garden into a Drive
Living in a busy area with no off street parking? Or maybe you are looking for additional space? We know a beautiful drive can be a feature in its own right and instantly gives your home added kerb appeal.
A driveway can increase the value of your home by 11% & with more cars on the road than ever before it saves you hunting for that parking space when you have the car full of shopping & its raining cats & dogs.
Driveways can be specially designed to suit your home, taste and pocket perfectly.
8. Knock Down Walls
Nowadays we are far more interested in having a large sociable kitchen/diner with plenty of space to entertain in, than a small kitchen and separate dining room.
By doing this, many initially worry that reducing rooms will lose value.
But actually people are more concerned about the total living space & the feel of a property than exactly how many rooms you have. As long as it creates a home that’s more suited to the way we now live, you can add value to the property with relatively low cost outlay.
Ensure a specialist is used to identify load bearing walls incase steel beams are required. Don’t get your sledge hammer out just yet!
9. Bi-fold Doors
Are you looking to bring the garden into the home? Bifold doors have fast become a firm favourite with UK homeowners. They allow you to bring masses of light into a room, while giving you fantastic access to the outdoors.
If your planning a new extension, this is often a no-brainer. But bi-fold doors can often be retro fitted by experts.
Consider having integrated blinds within the glass itself to add the ‘wow factor’.
Have you always dreamed about having that extra room in your garden for a man cave? Or if you’re a fitness fanatic, your very own gym room? Perhaps you need a home office away from it all?
An outbuilding could be exactly what you are looking for.
An outbuilding is a non-habitable building in the grounds of your home. This is a great way to accommodate activities that you may not be able to fit inside. Some of the most popular choices for these are:
• Sauna Cabin
• Pool House
• Extra Storage
• Games Room
• Music Studio
Many make the mistake of building these like a garage to save costs but good insulation will also be essential, especially if you will be using the room in the winter
Whatever you use this for, it is up to you. However rest assured, this will add value to your home.
All these ideas can be expertly advised & implemented by Jeffery & Wilkes.
Why not book in a home consultation so we can help you add value to your home & create more space.
Written by Greg Wilkes
020 8819 3883
* all values taken from Sainsbury bank home insurance poll 2015