Research conducted by peer-to-peer loan company Zopa reveals the average home improvement adds more than 10% to the value of a residential property. The study found that conservatories were the best home improvement when it comes to value, as they provide a 108% return on investment.
Zopa asked people who had previously taken out home improvement loans what changes they had made in their homes and how much profit they had made from the building work.
Homeowners can add an average of £30,000 to their property’s value through home improvements. You can find a range of tips and tricks on how to transform your home in the Hunters Home Improvement and DIY Guide, but here’s some advice to get you started:
A conservatory not only adds an extra room onto your home, but it can also boost its value by £5,750. At an average cost of £5,300, this means you get a huge 108% return on investment.
Unlike with an extension, you won’t need to get planning permission to build a conservatory either, as long as it is no bigger than half the area of the land the original house covers.
A kitchen is often the room buyers will prioritise when looking to buy a new house. It is the heart of a property and often the room that can cost the most to do up. But providing buyers with a ready-made, modern kitchen will encourage them to pay more and help them to visualise the house as their own.
A nice kitchen refurbishment will cost you on average £9,600 and give you a profit of about £4,750. This means you get a 49% return on investment and have a nice new kitchen to show off too.
An old and untidy bathroom can be a deal-breaker for buyers looking around a house. Having both a bath and shower, and providing viewers with a clean and modern bathroom could really help sell your property
A new bathroom will cost you around £4,900, but in the long run you will make a £2,350 profit. This means you will make a 48% return on investment and add on average £3,500 to the price of your property.
These are just a few of the rooms you can make changes to in order to increase the value of your home. It’s also important to make sure the exterior of your property is a focus when trying to sell your house. Kerb appeal is important, and the outside of your house is the first thing potential buyers will see.
Don’t be afraid to make some changes around your house because you never know just how much of a difference it could make when it comes to selling up. Just refreshing your décor and tidying up on a regular basis will help buyers to see the potential your home has to offer.