Types of Home Renovation – Which Ones’ Boost Value?

Types of Home Renovation – Which Ones’ Boost Value?

There are many reasons for renovating your home. Improving convenience, saving energy, adding new features, or simply redecorating. Renovations can also add value to your home; so that whatever investment you make now you’ll see reflected in your eventual selling price. If you’re selling in the near future you may want to think about renovations purely as a value-boosting exercise. But if you’re planning to stay put for the foreseeable future it’s important to strike a balance between value and your enjoyment of the space – no one wants to live in a show home. Some home renovations are absolutely crucial such as basic infrastructure, which will send potential buyers running for the hills if they aren’t dealt with. Others you can pick and choose. Let’s look at some. The types of home renovation – which ones’ boost value?

Basics

Put yourself in the shoes of someone buying a home – the chances are you’re looking at the market if you’re thinking of selling. A survey that tells you home is suffering from basic infrastructure problems is a major turn off – a buyer will have to make the investments themselves on top of the house price. A leaking roof needs repairing and needs to be well insulated (more on that later). Signs of structural damage will need urgent attention – these can be caused by water leaks and foundational issues. Solid, even floors are a must, and the house should be properly ventilated. If there are problems with the electrics in the property this is another urgent issue – dodgy wiring or an old system could be a fire hazard. Get the basics done before you even think about anything else.

Plumbing and heating

Another essential to get right in your home is the plumbing. Leaking pipe can cause all kinds of problems, from mould and mildew through to serious structural damage. If you have old pipes and fittings then have them replaced, with new flow regulating valves. This may seem expensive, but again, it isn’t something any buyer wants to pay for after purchasing a house. Heating is another area to consider. Make sure leaking radiators are replaced, and consider installing a smart thermostat – this can benefit you immensely while you still live in the property, as it can save you money and add convenience to your life (being able to monitor or change the heating remotely, etc).

Curb appeal

People do judge a book by its cover, so once you’ve covered the basics, making your home look great from the outside is a big plus for buyers. While these cosmetic improvements may not drive the price up compared to more in-depth renovations, they often help to get buyers interested and make a sale happen. When we talk about curb appeal we’re talking about a neat, well-maintained lawn, a facade that is nicely painted or clad, a front door that has been repainted or replaced, flowerbeds, pots or hanging baskets, and clean windows. Lighting can also play a part – either decorative LED lights or an elegant lantern – even a security light can be a bonus for buyers.

Kitchen

The kitchen is the heart of the modern home, a family hub, socialising space, and of course an area for preparing food. Kitchen renovations can be expensive if you’re having a full refit, but it has been shown that the kitchen, more than any other room, adds considerable value to your home. You may be able to make smaller changes with great effect – replacing the splashback, giving the cabinets new doors or handles, new taps for example.

Bathroom

This is the other room that adds value – while most people buying a home would prefer to decorate and renovate the living room and bedrooms themselves, walking into a property with a modern bathroom is a major plus point. Again, renovations here can be pricey, but you will recoup your investment when it comes to selling.  Try to keep the room as neutral as possible if you’re selling up – a novelty bathroom may be to your tastes but may not be to the buyers. Clean, minimal, and modern with luxurious fittings and fixtures will appeal to most buyers.

Investing in your home before you sell is a great idea. Not only will you attract buyers, you’re almost certain to command a much higher price than if you leave things undone.