A home is one of the most common assets held by individuals and couples. Like any good asset, your home needs a bit of investment. Luckily home improvements show a pretty neat return on investment as clever investments can add value to your home and deliver staggering ROI. This article looks at the best long-term, value-adding home improvements.
Interactive Guide For Adding Value To Your Home
We absolutely love this interactive guide by Tower Gate Insurance. Simply enter your home value and budget and the interactive guide will show you how much potential profit each home improvement could yield.
Please note, prices indicated do not reflect the prices on offer at Earnock Builders, rather it represents UK wide home extension prices. Please contact us directly for a custom quote.
Credit: Tower Gate Insurance
1 – Garage conversion
By far the best way to increase the value of your home is with a garage conversion. A well-constructed garage conversion can increase your home value by an estimate of 20%.
At Earnock builders we specialise in garage conversions. Get in touch and increase your home value today!
2 – Loft conversion
Converting your loft into an additional bedroom or living space can add a whopping 15% to your home value whilst creating a really cool space in your home. It’s no wonder this is the second best way to add value to your home.
At Earnock Builder we have carried out dozens of loft conversions in and around Glasgow. Get in touch to see how we could help you increase the value of your home.
3 – Make your home energy efficient
Windproofing your home, adding cavity wall insulation, loft insulation and upgrading to a high efficiency condensing boiler can all save you money on energy by making your home more energy efficient. But did you know that having an energy efficient home can increase your home value by an estimate of 14%?
4 – Extension
Adding more house is the most obvious way to improve your home’s value. But did you know that adding an extension can increase your home value by 11%? And that’s only for a single story extension!
At Earnock Builders we have over 20 years experience in building home extensions and helping people realise their dream homes.
Areas covered: South and North Lanarkshire, East Renfrewshire, Glasgow, Hamilton, Bothwell, Motherwell, Bellshill, Larkhall, Lanark, Carluke, Strathaven, Wishaw, Coatbridge, Airdrie, Cumbernauld, Newton Mearns, Giffnock, East Kilbride, Eaglesham, Busby, Clarkston, Bearsden, and Milngavie.
5 – Re-paint external
When selling your house it is a bit obvious that painting your house and making it look a bit more presentable can help you sell the house. But did you know that painting, rendering and repointing the outside of your home can add up to 10% to your home’s overall value?
6 – Landscaping
A bit of gardening is an excellent way to relax.Having a neat, well-organised garden is one of the best feelings ever! Adding 7.5% to the value of your home amplifies these good feelings.
Get the hedge trimmed and the grass cut. Try and not cut down any trees that belong to neighbours though.
7 – Design an open plan living room
Have you been dreaming of that open planned living room? Well maybe knowing that the cost of an open plan living room can actually be a decent investment adding up to 6% on to your home.
It’s time to get out the sledgehammer and knock down some walls! Just kidding. We recommend using a professional builder when it comes to heavier stuff like knocking down walls.
8 – Renovate your kitchen
There are loads of benefits to renovating your kitchen, such as lower energy costs, sustainability and of course upgrading the look and feel of your home. But did you know renovating your kitchen can add 6% to your home’s overall value?
It’s time to order that dream kitchen!
9 – Install central heating
Less than 7% of homes had central heating in 2004 and that number has surely dropped in 14 years. We take it as a given that most people reading this will have central heating, but if you don’t, installing central heating could increase your house’s value by up to 5.4%.
Just make sure your home has access to a natural gas distribution system.
10 – Internal painting and decorating
If you are selling your home you will most likely have painting the house on your to-do lists to make sure your house looks the part for potential buyers. But this relatively simple and cheap chore can increase your home value by up to 5%.
11 – Install a fireplace
Fireplaces definitely add that wow-factor to your home. But they also add value too! A fireplace in a home can add as much as 5% to the home’s value. However, there is a ‘right time to sell’ if you want to get the most value out of the fireplace.
The trick is to list your home with the estate agent just before Christmas and have the fireplace lit when people are viewing it. This doesn’t really work in the summertime, unfortunately.
12 – Renovate your bathroom
If you have an outdated bathroom, giving it an upgrade can add approximately 5% to your home’s overall value. This can be a great option if you have already renovated your kitchen but are still looking to add value.
13 – Add a conservatory
A conservatory is essentially an extension. Whilst technically not an extension as it doesn’t have a ‘solid roof’ like a sunroom does, it does add an extra room to your home and more space means more value! That extra floor space can add up to 5% of your home value.
14 – Renovate worn roofing
On top of reducing your home’s selling time and increasing your home’s energy efficiency, a new roof can increase your home value by up to 3%. As an added bonus you could change a flat roof to a pitched roof and add an extra room, increasing your home value via an extension.
15 – Lay down some new carpets
Up there with painting, people lay carpets when selling their homes to make it look better and ultimately sell faster. However, the value of your home goes up alongside the speed of sale when new carpets are included. This added value can be as much as 3%
16 – Decking
At the very end of our list is decking. Decking is not the best at a 2% increase in value and a sometimes expensive cost. This only tends to be cost effective on more expensive homes.
Overall spending money on your home makes your house nicer to live in but can also be a neat investment.
If you want to double the value of your home over the years it may be smart to begin with this list as all in all the improvements listed above can increase your home’s value by up to 97.9% – it’s time to get to work!
At Earnock Builders we focus on home extensions and loft conversions in Glasgow. We also build sunrooms and complete homes. Get in touch today for a full quote.