Whether you live in your property or are offering it for rental, you can benefit from renovations. Renovating your property increases its value, and many renovation efforts have a bigger impact on the value of a property than the cost of the improvement itself. By choosing the right projects, you can get an outsized return on your investment while also making the property more enjoyable to live in for yourself or your tenants. Here are some of the best ways to boost the value of your property.
Depending on the current state of your garden, investing money in improving it can have a big effect on the value of your house. If your garden is currently unruly, clearing it out and tidying it can really improve the way that your house is perceived – leading to a higher selling price or the ability to charge a higher monthly rental fee. Even tidy gardens can benefit from investment, with landscaping, water features, and BBQ areas all adding value to a property.
With time, bathroom styles go out of date, and daily use causes a very visible amount of wear and tear. Remodelling your bathrooms is one of the most reliable ways of adding to the value of your property. Renovations can range from simply replacing some dated items such as light fittings and doorknobs and taps, to reflooring and installing a new shower.
Tired old curtains and blinds can really ruin the look of your home interiors. Window shutters are an excellent alternative. Waterproof ABS shutters, for example, are extremely long-lasting, and will also be of benefit to new owners. Window shutters are stylish and clean-looking while at the same time being easy to maintain. Shutters are one of the more affordable ways of renovating your home and adding to its value.
Some homes need just a little bit of additional space, and doing a loft conversion is an excellent way of adding a new room to your home without major building works. Loft conversions can serve as a spare bedroom or perhaps a home cinema, giving the occupants of your home more space to enjoy themselves. Though not a quick project, loft conversions are not overly expensive, and the odds are you will make a profit on the money spent on a conversion when it comes to selling your home.
Conservatories are terrific for adding an additional space to your home that you can enjoy all year around. These bright extensions to a home are more than worth their price in garden space, not only effectively enlarging your home but also adding a lot of resale value. A home with a conservatory will also earn much more in rental income as tenants appreciate the additional space available to them.
One of the fastest ways to increase the value of your home and the chances of it selling or being occupied is repainting interior walls. Wallpaper is also a very good, long-lasting option. Many homeowners opt for a mix of quality paint and wallpaper to get the best decorative effect. Either way, a fresh-looking interior will go a long way to making your home more marketable and is, pound for pound, incredibly effective at boosting the value of your property.
In renovating your home’s floors, you can opt to replace carpets with a new high-quality carpet, or for an even bigger boost to the value of your property, look into installing quality wooden floors. A real wooden floor is easy to refresh year on year, and prospective buyers will appreciate the added style and the easy maintenance. If the existing floors in your home are looking tired, it could be off-putting to future residents, so look into a home-wide renovation if this is the case.
In deciding on a home renovation project, you need to consider whether you will get a return on your investment. Some projects can be poor value, especially if the quality of materials and workmanship let you down. On the other hand, many home renovation projects will have a really big effect on the value of your home – much bigger than the actual cost of doing the renovations. This is important to consider even if you are intending on staying in the home, as most homes change hands at some point in time.
Featured image by Nyplanting (Own work) [CC BY-SA 4.0 (http://creativecommons.org/licenses/by-sa/4.0)], via Wikimedia Commons
