If you’re planning to sell your property, there are ways you can enhance its value to maximise your return. Most people are aware than an extension for an extra bedroom or living space or an additional bathroom increases the property value, and may buyers are attracted by a modern kitchen.
But cheaper upgrades like outdoor improvements, giving the house a lick of paint in a neutral colour, and smart energy upgrades can make your home more desirable to homeowners that match the budget you have in mind.
Here are some of the best enhancements you can make to add value to your property that don’t need building regulations:
Add a Garden with Landscaping for Extra Kerb Appeal
A study by Hammonds, the fitted wardrobe experts, revealed that outdoor spaces have become increasingly important to UK homebuyers.
Results found that Brits are willing to pay an average of £5,044 more for a home with an attractive garden. An additional 10 percent stated they would offer £15,000 over the asking price if the outdoor space truly stands out.
You can capitalise on this by creating a professionally landscaped garden with low-maintenance plants, which are easier to maintain. Buyers love gardens that promote indoor-outdoor living so install outdoor seating areas and proper lighting that extend the usability of the space into the evening hours.
Install a Driveway for Convenience and Value
Whether you live in a suburban or urban area, parking is often at a premium, making off-street spaces a luxury. Brits would pay an average of £4,146 more for a home with its own driveway thanks to the peace of mind and ease it offers.
Before installing a driveway, it’s important to note that local councils may require planning permission, especially if you’re altering a public footpath or existing drainage system. Always consult your local authority to ensure your project complies with local regulations.
Design your driveway to fit seamlessly with your property’s aesthetics to not only improve functionality but significantly boost its marketability.
Boost Energy Efficiency with Smart Upgrades
With rising energy costs and an increased focus on environmental sustainability, improving your Energy Performance Certificate (EPC) rating can make a significant difference. Double glazing, solar panels and modern insulation can lower your energy bills and boost your property’s appeal.
In fact, buyers are willing to pay an average of £3,555 more for energy-efficient homes with solar panels, while triple-glazed windows can add £3,473 in value. Another 8 percent of those surveyed indicated they would offer £15,000 above the asking price for a property with smart upgrades.
Maximise Storage Space to Improve Usability for Homeowners
In smaller UK homes, every square foot counts. Clever storage solutions can dramatically improve the functionality and usability of a property.
Built-in wardrobes and loft conversions help declutter and create a more spacious, organised environment that appeals to a broad range of buyers.
Property data suggests that buyers are willing to offer an average of £3,408 over the asking price for homes with well-designed storage.
Regional Variations in Property Market Value
The value certain improvements add can vary depending on where your property is located. For example, a driveway might be more valuable in urban areas where parking is limited, while in suburban or rural areas, larger gardens and outdoor spaces may be more sought after. Understanding regional trends in the UK property market can help you make better decisions about which upgrades are likely to have the greatest impact on your home’s value.
In London or other major cities, space-saving features and off-street parking can make a significant difference, while in Scotland or Cornwall, for example, buyers might place more value on scenic views and energy efficiency.
Cost vs. Value of Upgrades: A Smart Investment Guide
Before starting any renovations, it’s important to compare the costs with the potential increase in property value:
- Solar panels: Costing between £5,000-£8,000, solar panels can add £3,555 in value while lowering energy bills. Installation typically takes 1-3 days, and regular cleaning is needed to maintain efficiency.
- Driveway installation: Priced around £3,000-£5,000, a driveway could increase your home’s value by £4,146, providing off-street parking. Installation takes 3-5 days, and regular maintenance, such as sealing cracks, will extend its lifespan.
- Landscaping: Professional garden design may cost approximately £2,000, potentially adding £5,000 or more in value. Landscaping can take a few weeks, and regular upkeep like trimming and weeding ensures long-term appeal.
Step-by-Step Guide or Checklist for Home Improvements
To make the process of upgrading easier, consider following a step-by-step guide:
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- Assess your property’s current condition: Identify areas that need improvement.
- Research costs: Get estimates for the renovations you want to undertake and use tools like a property value estimator to assess the impact of the upgrades. Top tip, see which of your neighbours have a higher house value and find out why. The official government EPC rating checker also give you the option to see how to improve your property’s energy efficiency rating.
- Prioritise projects: Decide which upgrades will add the most value based on your budget.
- Apply for grants or financing: Explore government incentives or loan options.
- Set a timeline: Plan when each upgrade will be completed before listing your home.
