Which home improvements add most value to your property?
Spending on home improvements makes your home a more enjoyable space, enhances it’s visual appeal and increases the long-term value of your property. On average, home improvements will add 10% to your property, however, more extensive works, such as conservatories could add up to 108% to your home’s value.
We take a look at the different return on investment from various home improvements.
Conservatories
A conservatory increases the amount of indoor space your home has – however, is often at the expense of reduced garden space. Unlike an extension, building a conservatory does not required planning permissions (as long as no more than 50% of the original land is covered). Equally, when building a conservatory, you will be exempt from any building regulations, as long as half of the new wall and 3/4 of the roof is either glazed, or a similar translucent material.
The average cost of a conservatory is £5,300.
The average return of investment is £5,750 – that’s an impressive 108% increase in value.
Garden
Gardens are often neglected by homeowners – especially in winter months – where the front garden is subject to overgrown grass and unmaintained plants. However, the front garden is the first thing a potential buyer will see when viewing your home, so an unkept lawn will surely detract potential buyers. Instead, a well looked after garden will give your home a welcoming feel.
The average cost of garden works is £4,550.
The average return on investment is £4,000 – that’s an 88% increase in value.
Home Exterior
Similar to your home’s garden, your property’s exterior is one of the least maintained and updated areas of a home. Cracked render, dirty windows, unpainted woodwork, chipped doorframes and broken roof tiles all add up to a worn-out and dull looking home.
However, your home’s exterior is one of the first things a potential buyer will see, therefore, it’s important to make sure it looks it’s best. Spending a bit of time and money on decorating and repairing any exterior damages could make a big difference in the appearance and value of your property.
The average cost of exterior works is £6,000.
The average return on investment is £4,500 – that’s a whopping 75% increase in value.
Kitchen
The kitchen has long been regarded as the most important room in a home – and is often the first thing buyers will look to renovate, in order to add their own personal stamp on a property. Therefore, providing a thoughtful, attractive and functional kitchen space is ideal for attracting buyers and adding value to your property.
According to HSBC, a new kitchen will add at least £5,000 to a home’s price tag.
Direct Painting Group are a leading home improvements company in Surrey – for more information on how you can increase the value of your home, visit their website.
