If you’re looking to sell your home at the best possible price, or simply to make your family home
more liveable, home renovation is a great way to add value.
Adding extra space is a sure-fire way to increase property value, but structural home renovation
projects are expensive. The quickest returns may come from projects that transform the space you
already have and make it more appealing to prospective buyers:
Beautify your outdoor space: flaunt your outside living space by tidying up your
garden and adding a deck or patio.
Redecorate: a fresh coat of paint and a few modernising design
touches could makeover your home. Decorate with light, neutral colours to add the illusion of
Declutter and clean: an unclean, messy home is an instant turn
off for buyers. Have a deep clean, fix any superficial defects and look at storage solutions to
make your home tidier.
Convert your garage: as a way of adding living space. Whether this
is a work out area or home office, a garage conversion can be a good alternative to a brand new
extension or loft conversion.
Go green: an energy-efficient home is very desirable in today’s
climate. Improving insulation can make your home cheaper to heat, while the addition of solar
panels means cheaper energy bills.
Budget a little tight? A personal loan could
help you fund home improvements that maximise your
property value before you sell.
How much does a loft conversion add to property value?
Converting your loft into an extra bedroom could add up to 20% to your property value.
much value a loft extension will add depends on many factors, including where you live. If your
property is in an urban area where living space is at a premium it could be a big bonus.
Loft conversion costs vary massively from £18,000 - £65,000, depending on the type,
and the size and
location of your home. Ask a local estate agent to estimate the property value increase and check
the ceiling price for housing prices in your area. Don’t spend more than you can conceivably add in
Renovating a bathroom could cost anything between £3,000-£15,000 depending on the
extent of the work
needed and the quality of the finish, but a bathroom renovation can be one of the most profitable
rooms in the home when it comes to renovation projectsSee footnote 11.
Does a kitchen renovation add value to your home?
National Association for Estate Agents (NAEA) recommend that if homeowners can only afford to
renovate one room, then they should opt for a kitchen renovationSee footnote 22.
If your kitchen is old-fashioned, simply giving the cabinets and the worktops a facelift, and
painting the walls could increase your home’s desirability. Focus on making the space as efficient
and usable as possible, and opt for a simple, stylish design that will appeal to more people.
Ready to get your home renovation project off the ground? Read our guide to applying for a loan.