Whether you intend to sell your home in the not-too-distant future or want to down the line, there are many ways to increase your home’s value. In this guide, we’ll explore some of the best ways of achieving this.
Address Structural Problems
First and foremost, addressing structural issues is key to maximizing a property’s value before putting it on the market.
Structural problems may include subsidence, sagging roofs, leaky roofs, rising dampness, structural wall cracks, missing roof tiles, roof tiles needing replacing, and more.
If you suspect your home has structural issues, hire a surveyor, builder, or building engineer to take a look. Setting aside adding value to your home, addressing structural issues as soon as possible is important to keep everyone safe and preserve the property’s structural integrity.
Kitchen Renovation
Renovating your kitchen could add somewhere in the region of £10,000 to the value of your property (adjusted to factor in the money spent on the renovation).
A renovated kitchen can offer more usable space, be easier on the eye, and allow for the installation of new and more advanced features.
Further, a new kitchen can be an opportunity to add fittings like a kitchen island or new countertops. Overall, a renovated kitchen can give the space a new lease of life and add plenty of curb appeal.
Fit an Ensuite Bathroom
Similarly, an ensuite bathroom can add around £10,000 to your property. Of course, you’d need a sufficiently large main bedroom for this addition to be feasible (if your home doesn’t already have an ensuite bathroom).
Add a House Extension
One of the best ways of increasing a property’s value is by having an extension added. There are many types of extensions, including a side extension, wraparound extension, and rear extension.
Costs can also vary significantly. For instance, a single-story side extension costs about £30,000 to £50,000, whereas the average starting price for a wraparound extension is about £40,000 to £65,000 or more. A house extension is likely to add somewhere in the region of 12% to 20% to your home’s value.
Installing a New Heating System
Another way of increasing your property’s value you may want to consider is having a new heating system installed.
For example, replacing an existing, old boiler with a new and modern boiler with an A-rated efficiency may add around 4% to the value of your home.
Adding a heat pump is unlikely to add substantial value to your property, particularly when you factor in the cost.
However, if you can benefit from the Boiler Upgrade Scheme (BUS), which can slash the cost of installing a heat pump by £5,000 to £6,000 for eligible households in England and Wales, you may find such an installation is worthwhile. In most cases, though, it’s unlikely to prove worthwhile for adding value to your property.
Loft Conversion
You’ll also want to consider converting your loft as part of an effort to increase your home’s value.
In many cases, converting a loft means creating a fresh bedroom space. It will often include all features of a bedroom along with skylights to let light in and act as a means of ventilating the space and allowing those inhabiting the space to enjoy some fresh air.
Of course, it’s possible to use a loft conversion for other reasons, including creating a living space, gaming room, etc. A loft conversion will likely add 20-25% value to a property.
Deducting the conversion cost, this value increase becomes about 5% to 15%, potentially more depending on various factors.
Other Ways to Add Value to Your Home
The above home additions/alterations are some of the best ways to increase a property’s value. However, there are many other ways of achieving this.
Here are some other notable ways of increasing your home’s value and by how much (approximately):
| Home Addition or Alteration | Value Added to Property (adjusted for cost) |
| Garden Room | £3,000 to £3,500 |
| Downstairs Toilet | |
| Parking Space | £10,000 to £12,000 |
| Decorating Throughout Your Home | £3,500 to £4,500 |
| Removing a Wall, if Appropriate/Safe, to Create a Larger Living Space | £30,000 to £40,000 (potentially) |
Whatever the case, it’s important to only opt for home additions or alterations that make sense and are safe.
How much value a home change will add to a property can vary depending on various factors, so be sure to consider this and get an estimate before going ahead and splashing out on substantial changes to your home.
Featured Photo by Annie Gray on Unsplash
