Whether you’re planning to sell your home and want it to be as profitable as possible, or you’re looking for ways to get more from your property, some home transformations are worth the time and cost, and some aren’t. Knowing the difference between them could save you a lot of money and reduce the risk of a shock when it comes to finalizing the asking price of your property. If you’re looking at renovations, but you want to know which ones will add value and which ones won’t, then this handy guide should get you thinking in the right direction.
Adding extra space your home doesn’t always have to mean getting the builders in to create that expensive extension. Converting a space that is being underused is a great way of creating more living area for you and your family, and a good quality cellar conversion can add up to 30% to the value of a property. This is one of the easiest conversions to consider, and there are plenty of uses you could put that empty cellar to. Get rid of the mess down there and make better use of it instead.
Splitting your home
This has become a growing trend as the housing market has struggled. Turning your existing home into a set of smaller properties can be advantageous for a number of reasons. For families, it’s a great way to ensure privacy for all. However, the reason why this has become such a popular option is because it gives homeowners the chance to make money from the space that they’re not using. Renting out to full-time tenants can be a great source of income that could help you with your mortgage. You could even list your new split flats on Airbnb and earn yourself some extra money.
Upgrade your kitchen
Transforming your kitchen is a daunting task. It’s one of the most used rooms in the home, and a kitchen overhaul can mean some big costs. However, it can also add a good 15% to your home’s value, so it’s worth looking at. You will need professional help with this, and that too can run up costs. It is often worth looking at getting a personal loan of some kind, and you might be able to find a valuable source of money by finding the best peer to peer lenders. These loans can be personalized to suit what you need, and with the right source of funding you could transform and update your kitchen so that it looks better and is more functional.
When people look at home renovation, they always forget about the garden. Partly this is because they don’t get to use it all year round, but that might be the key to getting more from your property. Upgrading your garden so that you can use it even during the colder months is a very wise investment indeed. From outdoor cooking areas to glass-paneled outdoor living rooms, the potential for playing with your garden design is almost limitless. Get rid of the shed that’s nothing more than an eyesore and give some thought to what will make your garden more exciting. From a summer house to some simple decking, transforming your garden should be high on your list of priorities.
The bathroom is one of the rooms that people tend not to upgrade when they’re looking for ways to add value to a home. That’s because bathrooms only tend to add an average of just 10% to the overall price of a property. A bathroom upgrade can work for you in other ways though. Having a newer and fresher bathroom might not add monetary value, but people do place a lot of personal value on how a bathroom looks. The right bathroom design can speed up the sale of a home by a lot. The more that it has a fresh, modern feel to it, the less time that your home will spend on the market. Don’t just consider the monetary value of an upgrade. Having a better bathroom will also improve your own quality of life too!
Updating your home needn’t be a daunting thing to consider. It can take both time and money to get it right, but the benefits can make the potential for stress well worth it. Never jump straight into a renovation job, and always talk to professionals before you commit to anything. While a well thought out home upgrade can add value to your home, sloppy, unfinished, or dangerous work will reduce your potential for profit. Get your upgrades right, and you might be making more money from the sale of your home than you thought possible.