2020 was a unique year to say the least. It tested our spirit and made us re-evaluate what is important in our lives. It also made us spend more time at home. Much more time than many of us ever thought possible. It made us think of how our homes works for us. Made us consider that maybe – our home, one of our most valuable assets – could probably use some TLC so it can really deliver everything we demand of it.
As our lifestyles changed, we came to realise that the space that once worked for us, was maybe not as efficient as we thought. Additional space suddenly became a very valuable commodity and we became aware that additional kitchen space to accommodate the whole family at every meal, or a home office where you could have some peace and quiet, was no longer a luxury but a must.
But while we pondered which of our new found needs was most important and daydreamed about interior design indulgences, we had to also think – if I am to invest money on renovating my property, what would really add long-term value to my home?
Understandably, a property renovation for a family home should be guided by a family’s lifestyle needs. But in terms of the monetary value a renovation can add to a house, not all are created equal.
Create a Bespoke Bathroom
Many property experts consider the kitchen and the bathroom the most important rooms in the house. A bathroom renovation – should yours be looking a bit tired – is one of the best investments you can make. Not only will a spacious shower room or a luxurious bath provide you with amenities that work for your family, but will be one of the most eye-catching features should you choose to sell in the future. If your home is currently lacking a downstairs lavatory, this might be the perfect time to think of adding one. A downstairs powder room usually will not encroach terribly on your home’s original footprint and can potentially be a great selling point. Besides, regulations as to where a powder room can be added, have recently been relaxed, making this addition to your home much easier to achieve.
The Kitchen is the Heart of the Home
The average Brit, spends 253 minutes per week in the kitchen. That is 219 hours per year or 439 days over the span of your lifetime. If we are to spend this much time there, why not make the experience one that is pleasurable? One of the home improvement projects with best returns is a kitchen extension. Not only will it provide you with all the additional cupboard and surface space you really need but could, by using something like a side-return extension, increase your property value by up tot 15%.
The Loft – Your Own TARDIS
In most houses, the loft just sits there, underutilised and ignored. But lofts have the potential to provide you with heaps of additional space and to add considerable value to your home. Converting a loft into an additional bedroom has the potential to add as much as 15% value to a property’s price. As a selling point, being able to put on the market a three bedroom home on a street where all other properties only offer two, will definitively give you an advantage. A Loft conversion can be incredibly versatile. Besides creating additional bedrooms, lofts can also accommodate home offices, additional storage space or even a children’s playroom – your imagination is the limit.
Convert the Basement.
Not every home has a basement. But if your home does, a basement conversion carried out by a specialist, is definitively something you want to consider. First of all, a basement conversion will provide you with substantial additional space. Secondly, a professional basement conversion can help you avoid the basement becoming a source of damp or other problems that could potentially come up during a survey. Just like loft conversions, basement conversions are extremely versatile, and will turn a space that is usually underutilised into one that potentially adds up to 30% to the value of your home.
Bring the Inside Out – Add a Conservatory
One of the most cost effective ways to increase your home’s foot-print, conservatories have always been incredibly popular. Adding a conservatory is not only relatively affordable but thanks to Permitted Development Rights, this renovation rarely needs planning permission making them one of the easiest projects to undertake. As these come in a myriad of styles, conservatories are incredibly functional and versatile.
Buyers Often Judge a Book by its Cover
Often overlooked, basic home maintenance can have a great impact on the perceived value of a property. Your home could be incredibly beautiful and functional inside, but if there is no kerb appeal, buyers might be immediately put off. Simple things such as keeping front gardens tidy, making sure that the drive and the exterior don’t show obvious signs of neglect or even smaller things like ensuring that your front fence is in good shape, can make the difference between a fast sale and a long-drawn price tug of war between you and a potential buyer.
Any renovation when executed properly has the potential to add value to your home. Home improvements should definitively be driven by whatever will raise your standard of living if you are planning to live in the property, but you should also consider the potential financial impact that carrying out any of these works will have on your property. As with everything, price will probably play an important factor when choosing how and when any of these potential renovations can be made. Remember though that high quality work can come at a price and you might sometimes be tempted to carry out these renovations on your own or choose the cheapest provider. However, if you think a professional’s work is expensive, wait until you hire an amateur.
Dominant Construction can help you make the right decision to discover your home’s full potential. We are always happy to have a chat to guide you on how to achieve this while making sure that you choose the best renovation option for your property, your lifestyle and your budget.