It may be a given, but your home’s features will have the ultimate say on if you sell your home and how much you’re likely to make from it. But in the same way some projects will boost home value and appeal, there are also those which will do damage.
Of course, get your home improvements right and you’ll be able to make back the investment later down the line. Therefore it’s important to know the difference in what will benefit your home whilst maximising your return on investment.
If you want to sell your home in the near future, or just want to improve the property for your own benefits, make sure to take our tips into consideration.
Pool and spas
It’s many people’s dream to have a home swimming pool or spa, but when it comes to selling your home or trying to get back the money spent, this is a dead ender. Not only will adding a pool or spa eat up some of your valuable garden space, but they’re also considered high maintenance and liability.
RealEstate’s Katrina Walker said: “Some people love Jacuzzis and other spa-like improvements. But if it’s not a custom home, those may be things you put money into and don’t get money back out of when you try to sell the house.”
Realistically if you’re considering a pool or spa for your home, make sure you want to stay in your property for many years to come.
New windows
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| Image from pinterest |
Energy efficiency is part and parcel of selling your home now and there’s a lot of swing when it comes to the Energy Performance Rating (EPC) of your property. One of the best ways to boost your own EPC rating is with replacement windows.
If you want to stay in your property for the years to come, or instead would prefer to sell, new windows cater to both brackets. They’ll help you to reduce energy bills every year, whilst also adding value to your home.
Double glazing is particularly beneficial. When it comes to energy efficiency it’s easily the most popular window installation, with two panes of glass separated by an inert spacer, usually Argon. Argon is used because it’s motionless so heat can’t pass through the unit and exit the home. Theoretically, the more heat in the home, the less you’ll need to use your boiler and the cheaper your bills will be.
Unnecessary improvements
It would be pointless spending large amounts of money on improvements which won’t have an underlying effect on whether your home sells or not. Instead it’s more important just to keep on top of the routine maintenance of your home.
For example, upgrading your plumbing system won’t make any difference to your home’s value and a future buyer can make the changes if they think they’re needed at a later date. If you bring in external contractors for any small works, be vigilant and make sure you’re not talked into a full replacement.
Updating your kitchen
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| Image from pinterest |
For many potential buyers, the kitchen is one of the most important rooms and it can literally make or break a sale. For anyone who comes to look at your property, being greeted with an old and outdated kitchen is a major put-off.
One of the major benefits for refurbishing the kitchen is that there’s plenty of choice and you can find materials that cater to your budget. Plus, you don’t necessarily have to replace everything and just changing the cupboard doors can drastically improve the aesthetics of your room.
Consumer watchdog Which? comment: “On average, people spend around £8,000 on a new kitchen. It’s important to consider all the costs such as installation, appliances, plumbing and electrics.”
Consider your neighbourhood
You’ll know if you live in a sought after affluent region, or one where property prices are slightly less. What’s important is to consider this when making home improvements because you don’t want to price yourself out of the market with extreme additions.
Renee Mayhall from RealEstate said: “A lot of times we advise our sellers not to do any major additions to a property, because you could price yourself out of the market, as well as increase property taxes for the future buyer. You want to sell the home and move on to a property that’s going to better suit your needs, and let the buyer put their own personal touch on it instead, because you literally won’t get that money back.”
Renewable energy
Renewable technologies are growing in popularity as energy prices rise and homeowners look to reduce their bills. Solar panels in particular make perfect sense, slashing expenses whilst adding a wealth of value to the property too.
And it’s because of this energy saving potential that prospective buyers look at renewables favourably when property hunting. So even if you want to sell your home in the future, renewables offer a fantastic solution.
Property expert Phil Spencer said: “I think solar panels or renewable energy sources, such as a wind turbine, can really add value to a property – as much so as a new kitchen or a hard-wood floor. People like eco features.”
What next for your home?
The advice above is just that; advice. Only you know exactly what your home needs and what would and wouldn’t work in the property. A lot of the home improvements you consider will be reflected by your budget, so it’s always best to get a great deal by comparing quotes.
Whether you want to install solar panels on your rooftop, have new windows fitted or even replace your old and tired kitchen, Quotatis offers a free service to get competitive quotes, with no obligation.