The real estate market has been very shiny over the past couple of years, with more people moving into their homes than ever before, looking for more indoor and outdoor spaces. Other Britons chose to improve their homes through restoration work large and small. An expert shared the best home improvements to make, including the “easiest.”
Ian McConville, Group Purchasing Manager, MKM, told Express.co.uk: “Most renovations and additions will add value to the resale price of your home, but before embarking on any project it is important to know the maximum price for your property. It is.
“This is the maximum price a buyer is willing to pay for a property on your street before they can find a similar property for the same money on a better street.
“If you are already at the maximum price, it is unlikely that any renovations or other additions will significantly add to the value of your property, and you may end up out of pocket.
“However, if there is still room to increase the value of your home, you will need to make sure you make the right improvements that will make the most money on sale.”
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Loft and garage conversions
The expert said this type of renovation was the “easiest” way to “add extra living space to your home and increase its value.”
According to Ian, the potential added value of a loft conversion, which could create an additional bedroom and en-suite, could be as high as 20 percent and 15 percent for the garage.
He added, “You will need to check with your local planning authority whether you need planning permission or whether it falls under permitted development, which often happens with garage and loft conversions.
“You will still need to make sure it is structurally sound although you will need to contact your local building control service or an authorized inspector to verify that everything complies with regulations.
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“If you’re considering either of these options, you’ll need to think about how you can incorporate storage into the rest of your home to make up for the storage space you’ll be missing out on.
“You might be able to incorporate built-in storage units into your new rooms or consider investing in a second or larger shed in the garden.”
Kitchen and bathroom
Unsurprisingly, the kitchen and bathroom are two other “main” areas of the home where homeowners can increase the value of their home by a huge amount.
They are often considered two of the most important rooms for potential buyers.
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The expert explained, “It comes as no surprise that there are other key areas of the home where you can add value, which are the kitchen and bathroom, which are often two of the most important rooms for potential buyers.
“Removing the interior walls between your kitchen and dining room to make your living space open is one of the easiest ways to add value and can add up to five percent at minimal cost to you.
Renovating or expanding your kitchen can add 15 percent to your home’s total value.
“Depending on the type of your property, you can consider a side extension, gain valuable additional space and improve your kitchen layout.
“A rear side extension could mean you’re missing out on the windows that bring in natural light, so you might want to consider ceiling lights or a partially or completely smoothed ceiling on the new extension.”
According to Ian, a new bathroom can add three to five percent of your home’s value.
If you cannot expand or improve the space, the expert recommended that you consider placing an additional bathroom elsewhere.
He said, “For example, adding a small en suite bathroom to a large bedroom or creating a toilet with shower under the stairs are great ways to add additional bathrooms and take advantage of more valuable space that would otherwise be wasted.”
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