How Renovating Your Home Could Help Increase Its Value

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Selling a home for the right price is incredibly difficult… even in areas of high demand.

Take Chiswick, for example. Home to gorgeous Georgian riverside properties, modern flats and Edwardian townhouses, Chiswick has a lot to offer potential home buyers. Due to this, it’s perhaps no wonder that local estate agents like Featherstone Leigh have witnessed such an increase in demand.

But, just because demand is high in your area doesn’t mean that you’re guaranteed a sale at a price that’s right for you, and by renovating your home, you could massively increase its value before it even hits the market.

To help you achieve the right price, we’ve put together this list of the top 3 areas you should look to renovate:

#3 Build an Extension

Finally, it may seem obvious but physically increasing the size of your property will also increase its value.

The size of an extension can vary hugely and can suit any budget – from a loft conversion to a conservatory and even something as large as a two story extension, there’s an option for every budget.

However, due to the cost implications, it’s wise to consult experts before you begin building, just to ensure you make the money back. Overall, extensions are a good long term way of making a profit, but potentially build them a few years before you plan to sell, so you get full enjoyment as a home owner as well as resale value.

#2 Kitchen

Not all renovations add money to a home, so it’s important that you invest in the right areas.

The kitchen, however, is one place where you definitely should invest. It’s usually the focal point of any family home, reflecting the taste and personality of a home owner. Research also shows that a nice, open plan kitchen can add up to 6% of value to a home. The average kitchen costs around £8,000 but based at this figure, you should more than earn your money back. It will also make your home more attractive to sell, as the buyer won’t have to replace the kitchen when they move in (this is something that many do).

#1 Add an Extra Bathroom

Nowadays, people love the convenience of having an en suite in their property and again, research suggests that an additional bathroom can add up to 6% of value to a property.

Plus, an additional bathroom has the added bonus that it’s far cheaper to install than a kitchen is, so you can receive the same amount of additional value for a fraction of the cost.

 

So there we have it, the top three ways of adding money to your property before you sell. Which one will you choose?