Which Home Improvements Can Increase Your Property Value?

The property market in the United Kingdom is on fire. In fact, the average selling price is at its highest level in five years. The average home is now selling for £258,000.

You can capitalise on this surge in home prices. There are home improvements that you can make to increase property value. Not only do home renovations add value, but they help you sell the property faster.

Read on to learn how home extensions and renovation projects can increase your property value. Explore which home renovations recoup the greatest percentage of investment cost.

Home Extensions

An obvious way to increase property value is by investing in a home extension. You are increasing value in a few different ways.

For starters, you are adding square footage to your home. Square footage is a major factor in a home appraisal. Price per square foot is one metric that appraisers and realtors use to assess value.

Your home extension is also adding more rooms to the home. Adding a bedroom or bathroom changes the entire valuation dynamic of the home.

An additional family or living room is another way to increase value. According to real estate experts, family room additions recoup 83% of the initial investment.

Outdoor Living Space

The concept behind a home extension also applies to the exterior of your home. One of the hottest trends in property is outdoor living space. Homeowners want to enjoy the great outdoors from the comfort of their own homes.

There are a few different ways to add outdoor living space. Some homeowners prefer a traditional deck while others like a paver patio. You could use a combination of both.

A growing number of homeowners are taking their outdoor spaces to the next level. They are adding outdoor kitchens and stone fireplaces for epic barbeques.

Upgrade the Kitchen

In the past kitchens served a singular purpose: to prepare and store food. Times have changed and now kitchens are the focal point of entertainment. Your guests now gather around an oversized island to play games and eat food.

There is so much that can be done in a kitchen renovation. The cabinetry is a focal point for any kitchen upgrade.

Some homeowners want to insert a kitchen island. Others are interested in modern flooring and a backsplash that stands out.

Bathroom Remodel

Bathrooms are one of the most important rooms in the house. This is a place where homeowners now go to unwind and relieve stress.

Bathroom remodels are known to recoup most, if not all, of the upfront investment cost. Homeowners want elegant additions to their bathrooms that make them feel like they are in a spa.

Oversized jetted tubs are a popular addition. Also in demand are standing showers with beautiful glass doors and stone walls. Other popular modifications include modern sinks and flooring.

Home Renovations to Increase Property Value

Many home renovations are expensive and there is some sticker shock for homeowners. The good news is that renovation projects are investments with a positive return.

The right home improvement projects are certain to increase property value. Home extensions and kitchen upgrades are just two examples.

If you are interested in making home renovations, contact us today to speak with an expert.