Property has long been considered by many to be a sound investment, not least because of the significant property boom which has been occurring for over a decade. Homes are now worth an average of around £227000, and could continue to rise for the foreseeable future in most areas of the UK. That being said, price rises in London have slowed dramatically, leading some to believe that the boom is over. Either way, home improvements which increase a property’s value could be a good worth carefully considering. Here are some useful ideas.
Making some significant changes to a house has the potential to increase its value. Replacing a kitchen or bathroom for something new and modern could give a home a new lease of life and can be a attractive selling point when it comes to putting your home on the market.
Such investments could prove to be a worthy long-term investment in your home, even if you need to take out a personal loan for funding.
Conversions have become increasingly popular recently, as they allow you to modify and improve any given space in the house without having to make many changes to the external side of the house. Loft conversions in particular are sometimes considered to be effective investments, as they usually cost around £20000 but can potentially increase a home’s value by £40000.
It is important to consider the cost of building per square meter against the actual cost of the house per square meter, as well as which areas of the house are actually viable for conversion.
As one of the most aesthetic and spacious parts of many properties, putting some work into the garden could go an incredibly long way in boosting the overall value of your home. Adding features like a decent shed, patio and paving could help to improve the look of your garden as well as potentially making it attractive to a prospective buyer.
It may be worth hiring an established landscaper to give your garden an overhaul, which could help ensure that it is revitalised in a professional and effective manner.
Ultimately, there are many different ways you can improve your home which may help add to its financial value. Be sure to give your property a thorough evaluation to see which may be the most effective options for your needs/budget.