Home Renovations to Improve the Saleability of Your Property
Not all home renovations are considered equal when it comes to the saleability of your property – picking the right improvements to increase the value of your home is vital. Some home improvements can be incredibly costly, but you might not necessarily see a return on your investment. These home renovations can help to improve the value and saleability of your property.
Bathrooms are one of the most-used areas of the home, and it’s common for them to look worse for wear over time as a result. But it’s also an area of the property that buyers pay close attention to, so making improvements before you put your home on the market can help you during the selling process. Depending on how much you want to invest and the time you want to put into it, bathroom upgrades can be anything from minor refreshing through hardware and changing out the shower curtain, to a full suite renovation that can add anywhere up to over 60% in returns. Aim to create a spa-like experience in the bathroom, as this will appeal to potential buyers.
Garages are desirable for buyers as they offer a secure place to store vehicles and can be used as additional storage for belongings too, which can be scarce in some homes. Your garage door is important for adding kerb appeal to your home, but it is also crucial in ensuring that the garage is safe and secure, so an upgrade can help to improve the look of your home for buyers and guarantees security. Once you’ve checked your garage door is free from faults and damage, refinishing it can help to improve the aesthetic appeal it provides for a great first impression.
A popular home upgrade, kitchen renovations are often the first port of call for people looking to increase the value of their home. But how much can you really make from this home improvement project? Kitchen renovations typically do pay off in the long-run, especially if your kitchen is very dated. Even just changing the cabinetry and updating the taps can add between 2 and 3% in returns, while a full overhaul could increase your home’s value by as much as 10%. Since the average kitchen upgrade costs in the region of £10,000, this can be a significant profit overall.
A study by Halifax found that a loft conversion offers excellent value for money in terms of saleability, adding 15% in value. What’s more, it can significantly increase the floor space of your home by up to 30%, which can be a real selling point for potential buyers. The average for a loft conversion is between £16,000 and £20,000, so it’s more of an upfront investment than some other home improvement projects, but it can offer great returns long-term.
Landscaping the outdoor spaces isn’t something that you immediately think of when it comes to renovating your home, but it can make a big difference. Gardens are sought-after, so having a beautiful lawn or pretty container plants can really boost your home’s appeal. In fact, just a bit of work could increase the value of your property by as much as 15% on average, topping out at over 40% in profit if you spend in the region of £4,000. The return you’ll see depends on how much you invest in your landscaping, but even minor upgrades and tidying can really do wonders for saleability.
Flooring can do wonders for the overall feel and look of a property, and it can boost the value too. If the carpet is stained and worn, or the laminate is starting to lift, it can make your property look drab, even if other areas of the home have been refreshed. It’s one of the simplest upgrades you can make but it has an instant impact and can completely transform the look of your home. Go for something that’s easy to maintain and neutral to appeal to a broader range of buyers.
You might be planning to move in the near future or you could be looking to make upgrades that your family can enjoy but that will pay off in the future. Whatever your situation, being thoughtful and considered in your approach to home renovations can really pay off further down the line when you put your home on the market. From the minor improvements that can work brilliantly in improving the aesthetic appeal of your home to the bigger renovation projects that can add thousands to the overall market price, think about the needs of a future buyer when you’re making changes to the property.