Our homes can often be the biggest purchase we make in our lifetime, and as we move up the property ladder they can only get more expensive. We work hard to save for the deposit and pay the big mortgage payment each month, however, the beauty of owning your property is having the asset. Typically house prices stay stable or rise, but you can actually do things to your home in order to guarantee that it increases in value. With that in mind, here is exactly how you could do it.
When it comes to renovations you may need to think about what exactly you want to do with your home. There is so much potential with different aspects of your home, that you could really add some value. Let’s face it, home renovations are not exactly easy to go through. But whether you decide to do something drastic like replace the kitchen or bathroom in your home, or whether it is a complete overhaul where you are knocking down internal walls and changing the layout, it could make a world of difference to your home. Investing wisely enables you to see a return on that investment through the increase in value of your home.
There is another way that you can add value to your home that can be hugely beneficial and that is through extending. Adding square footage is one of the best ways to add some value to your home. It can be an easy way to ensure that you get more for your home, and it can be done in a few different ways. You could extend just on the ground level, increasing the living space or making rooms like the kitchen bigger. Or you might want to think about going up a level as well and adding on a bedroom or two. Just bear in mind the process of needing permission to add to the property.
There may already be space in your home that you could utilise better. A garage, a loft or basement space perhaps. Converting these areas into loving spaces is effectively extending your home without the massive work of building walls or foundations to make it possible, or taking up anymore of your outside space. A loft conversion can easily be converted to a bedroom, and a garage could provide an extra living room to enjoy. You will most likely still need to gain permissions locally to ensure that the work taken out is agreed, but it may be a simpler process than applying for an actual extension.
Finally, sometimes just making some cosmetic changes to your home can make the biggest of differences. New carpets, freshly painted walls, it can really transform a space making it feel more modern and easy to move into. It may not add thousands onto the value, but it could certainly provide you with a hefty return on the initial investment you make on paint and time.
Let’s hope that these options give you some inspiration for adding some value to your home.