How to add value to your home without wasting money

Wouldn’t it be great if every improvement you made to the home would add on a wealth of value? But unfortunately that’s rarely the case.

Of course, you can’t avoid making some amendments to the home because many will be necessary, but what’s important is to avoid those which will do more harm than good.

Put simply, just because you spend £5,000 refurbishing the kitchen, doesn’t necessarily mean you’ll get £5,000+ back in the valuation.

So why not take a look at our top tips for improving your home and getting the money back when you sell in the future.

Don’t overdevelop

Overdeveloping is something that happens accidently rather than being a clear-cut decision. And you need to beware falling into the same trap as thousands of other homeowners.

Think about it, if your home is worth £400,000 and every other property on the road is valued at £250,000, yours sticks out like a sore thumb. The chances are you’d have pushed your home into the wrong price bracket.

But this doesn’t mean you can’t make some changes. Take a look around and see what your neighbours are up to. A conservatory will always add value to the home and you may also find it more cost effective to convert a two bedroom house into a three bedroomed property rather than relocating.

Reconfiguration

If you want to create some more bedrooms upstairs then the best way to do this is with some reconfiguration. Your best bet here is to hire a builder who’ll be able to draw up plans and best utilise the space you have available.

Building onto the garage is often seen as a great way of extending upstairs. Between a two and three bedroom house you’re looking at a £30,000+ valuation difference.

Loft conversions

Loft conversions are hugely popular all over Britain because they help to make the most of otherwise wasted space in your home. With a loft conversion you’ll completely change a dark and dingy environment, into a light and welcoming area.

If you live in a conservation area or own a listed building, this could be tricky because of permissions. So always speak to a local planning officer before going ahead with any work.

Once you’ve decided on a conversion though, make sure to hire a reputable builder to undertake the job. We would recommend using Velux windows to bring in a wealth of natural light and help open up the space. This can cost from around £10,000 and you can add 20% to the value of your home.

For more information on loft conversion costs see our guide or look through our directory of local loft conversion specialists.

Single-storey extensions

Any home improvement that adds space to your home will be a good idea, as long as you don’t go eating too much into valuable garden space. A conservatory for example will add over £9,000 to your home’s value. You could also consider a standard extension of another room in your home such as the kitchen. This will all fall under permitted development too, so you won’t need to worry about permissions.

To see costs for a house extension read our costing guide. Once you are ready to get quotes see our directory of local builders.

Facts & Figures You’ll Love To Share

  • Installing a conservatory will add over £9,000 to the value of your home. Single storey extensions are also a great money maker.
  • Convert the wasted space in your loft into a bedroom ensuite to add 20% to your home’s value.
  • Adding an extra bedroom above the garage is the best way to improve your home’s banding. There’s £30,000 difference between a two and three-bedroom home.
  • Make sure not to price your home outside of the area. Overdeveloping could lead your home to be overpriced for the region.

Tom

I have been managing online projects since 1999 and I'm a experienced marketeer, who is well versed in international brand management, online business strategy and developing long term relationships. Through my academic and professional background I am a specialist in generating online loyalty towards brands. My experience has taught me that ultimately business is about relationships and people. For more information see my Google+ page.