How to Increase the Value of Your Home
Written by Martha Lott
29th Jun 2018 (Last updated on 31st Mar 2020) 5 minute read
Whether you're moving house or if you've recently moved in, you'll always want to find ways to add value to your home. Increasing the value of your home doesn't have to be expensive, there are simple ideas you can implement that'll help to add value to your house on a budget.
In this article, Compare My Move list the traditional methods as well as cheap ways to add value to your home. From the importance of hiring a surveyor to the benefits of a lick of paint, this article will show you how to increase the value of your home by up to 20%.
How to Add Value to Your Home
These are the home improvements that will add the most value to your home. From converting your unused garage to a loft conversion with a bedroom, these ideas will help you add up to 20% on the value of your home.
1. Garage Conversion
Most people don’t even keep cars in their garages and they often end up as an unused space. Extra living space is always attractive to home buyers. Converting your unused garage into an extra living space is a great way to increase the value of your home by up to 15% according to Property Price Advice.
2. New Kitchen
The kitchen has become the heart of the home, so if there is one room you are going to improve, make it this one. It has become the ultimate multi-functional space – we eat, do work and host parties in there. A kitchen that is modern, attractive and one that will still be desirable in 10 years’ time is sought after by both buyers and valuation surveyors.
According to Nationwide Building Society, adding a new kitchen will increase the value of your home by 6%. However, you won’t see much of a return on investment if you’re paying £20,000 for your kitchen when your property is worth £200,000, the same goes for a house costing £70,000 as you’ll see no difference.
3. Loft Conversion
If you have wanted an additional bathroom or guest room, building a loft extension is the best way to go about it, and it doesn’t need to be invasive work either – most of it can be done from outside. According to research carried out by Nationwide Building Society, a loft conversion could add up to 20% on the value of your home. If you were to add a loft conversion to a property worth £200,000 that’s an increase of up to £40,000.
A full extension with a conservatory, roughly costing between £10,000 and £30,000 will add an average of 11% to the value of your home according to Phil Spencer’s 20 ways to add value to your home. Its important the extension matches the rest of your house otherwise it could look unattractive.
For your conservatory to add value to your home, it can often depend on the intended quality of build. You want to ensure that the conservatory matches the style of the rest of your house, rather than turning it into a totally separate structure. Retain some continuity by using the same aesthetic and flooring. On average, conservatories cost between £5,000 and £30,000 and can add around 10% to your home’s value, according to Property Price Advice.
How to Add Value to Your Home on a Budget
Adding value to your home doesn't have to be expensive. Compare My Move have compiled a list of cheap and easy ways you could increase the value of your home.
1. Put Mirrors in the Hall
The hall is the first thing potential buyers will see when they enter your house. The use of mirrors will give the illusion of a larger space, which is an attractive selling point for most people. The hallway should always be kept clear of clutter as well, giving the illusion of more space than it is.
2. Spring Clean
Everyone’s guilty of a messy house by letting the clutter build up. Once it’s thoroughly cleaned, it will feel like a brand-new house. Simple things like cleaning windows, counters, kitchen ovens, unblocking gutters and clearing the driveway/path area will make all the difference. It may not add a lot of return of investment, but a clean and fresh-looking house will be more attractive to a buyer than a messy, cluttered house. For tips on how to declutter, follow the steps in our how to declutter infographic.
3. Lick of Paint
You’ll be surprised at what a little bit of paint can do to the appearance of your house. Make sure to cover any dirty or peeling walls to make your house look as attractive as possible. No one wants to buy a house with a poor paint job, inside and out. This is an easy and cheap way to successfully add a bit more value to your house. Don’t forget to paint the skirting boards, ceilings, the front door and the exterior.
4. Spruce up your Garden
A well-maintained garden can add up to 20% to your home’s value, according to Phil Spencer – and you don’t need to spend a fortune on it. Cheap additions such as a few plants, fairy lights and a table and chair set will help to add value to your home.
Keep it tidy by getting rid of weeds, fallen leaves, dead plants and remember to water and care for your garden. Use your garden space wisely, and make it look as large as possible. In general, emphasising how multi-functional your garden space is can increase the property’s value.
5. Make your Front Door Appealing
Giving your front door a touch up will make the whole property seem more appealing. If your front door doesn’t make a good first impression, neither will your house. By tidying it up with a fresh coat of paint and a new door number, it will automatically look more inviting to buyers.
6. Get a Chartered Surveyor
Hiring a chartered surveyor will help to save you money in the long run, adding value to your home. The surveyor will be able to highlight any defects or damage including cracks in walls, leaking roofs, damp etc. Compare My Move can even help you save money on your chartered surveying costs.
Add Value to your Home with Compare My Move
Adding value to your home doesn’t always have to cost a lot. If you follow our simple guide, you’ll be able to increase the value of your home, whether you’re selling your house or just thinking of the future. To start adding value to your home and save money at the same time, you should compare surveyors so you get the best deal. We will connect you with up to 5 professional chartered surveyors.