Property values have risen considerably in recent years, as demand continues to rise against sparing supply on the market. As economic downturn beckons for the UK, property has also become a particularly useful asset for protecting value.
Growing the value of your property is a relatively simple endeavour, and one that can shore up your future returns against the impact of inflation – but what home improvement endeavours might be best for improving property value on the market today?
Cellar or Loft Conversion
One of the most straightforward ways in which you can create new value in your property is by adding to it substantively, either via extension or conversion. Extensions are costly to undertake, though, and require significant effort in the form of preliminary development and the attaining of relevant permissions.
As such, the better option for many homes is conversion. Whether you have an attic or cellar space, you can convert it to new living space without planning permission. In losing storage or utility space, you gain space you can use to create a new bedroom, bathroom, or recreational space – each of which has significant value attached when it comes to selling your home.
While a cellar or loft conversion has immediate tangible value to potential buyers, there are some less glamourous investments you can make to the same end – that improve the robustness of your property and eliminate the need for new owners to worry about renovation.
One such renovation is that of your property’s roof, something that must be done by professional tradesmen. Older tiled roofs with mortar-bonded ridge tiles are more susceptible to weathering and eventual leakage over time. A complete roof overhaul, including a dry ridge system that improves durability and longevity, can add decades to the lifespan of your roof – with a sympathetic increase in the value of your property.
Open Plan Spaces
One of the key principles behind creating value for potential homeowners is creating opportunity. People viewing properties want to be able to envision their own sensibilities in the property, something which can be aided by neutral décor throughout.
From a renovation standpoint, open plan spaces are particularly useful for this – and have their own benefits which can serve to improve the value of any potential offers. By knocking through stud walls, you can create breathing, social spaces that speak to larger families and the design-conscious alike.
Lastly, and perhaps most simply of all, you could stand to benefit greatly from updating your kitchen altogether. While we as homeowners spend relatively low amounts of time in our kitchens, it is still the kitchen that provides the most impactful ‘wow’ factor of any room.
A combination of the appliances you install and the décor of the kitchen units themselves makes for an idiosyncratic space with unavoidable style. Weaponising this fact properly can add value in two ways – first, by adding literal value in the form of updated and bespoke kitchen units and storage; second, by greatly improving first impressions during house viewings, and hence increasing chances of a quicker, higher-value sale.