Given how much money you spent on your home, the chances are that you want to do what you can to increase your investment. While house prices tend to rise and fall of their own accord, some homeowners manage to almost double the value of their house by the time they sell.
As you can imagine, increases like these are unlikely if you do nothing. Still, drastically increasing value might not be as much effort as you’d otherwise assume. To prove that, we’re going to look at five reasonably simple ways to guarantee home investment pays off in the long-run.
Extend square footage
Extending can increase property value by up to 30%. That’s a fair amount given how much your home was worth in the first place. If you’re unsure, consider the price per square footage in your area, and then work out how much even a small extension could earn.
Kitchen extensions are a popular option and add a great deal of value, but even living room extensions or new bedrooms could work wonders. Note, too, that outside additions also extend square footage, so a conservatory or garage could both have an impact.
Update your windows
Updating windows can always make a massive difference from a value perspective. Something like the sash double glazed windows from The Rose Collection, both looks amazing and improve the energy efficiency of your home.
By updating to these over your old and single-paned options, you could add up to 10% onto property value. Even better, new sashes are easy to maintain so you can enjoy them for years and still rest easy they’ll one day pay for themselves.
Renovate the rooms you have
It’s also possible to add value by renovating what you’ve got. Studies suggest that something as basic as a bathroom or kitchen renovation can add up to 5% in value. Even better than that, renovating an unused attic space could increase costs by around 10%.
According to some studies, a total cellar conversion could even increase by 30%. That’s as much as an actual extension, and unlike an extension, most renovations are tasks you can tackle alone. That guarantees you can keep costs down while still enjoying the returns.
Add a driveway
In an age where most households own multiple cars, it’s also well worth adding a driveway to your property. Even if this means losing some of your outside space, inner-city homes can increase in price by around £20,000 just from a driveway alone.
You can increase that value even further by considering a garage to go with that driveway. Either way, this is relatively little work for significant increases.
Decorate your interiors and exteriors
Speaking of little work for large increases, you could increase value by merely decorating your interiors and exteriors. You might not think it, but modern and well-kept decoration can gain much higher price-points than flaking paint or outdated styles.
If you want to get the most for your investment, then, be sure to always stay on top here.