Which Home Improvement Adds the Most Home Value for UK Home Owners?
For many homeowners in the UK, home improvements are not only ways to make homes more comfortable. It is an opportunity to add value to a property, especially if owners have plans for resale. But regardless of what your goal is, no doubt that you want to do home improvement projects that are worth most for your money. But with so many choices, it may be tricky to decide which ones to do. Here are the best home improvement projects for UK homeowners for added home value.
Improve Outdoor Living Space
According to many studies, more people in the UK prefer having a suitable outdoor living space than any other home improvement. While not being the sole reason, the pandemic had a huge impact on many homeowners when it comes to assessing their home for renovations and improvements. With people avoiding potential harm from overcrowded places, many are looking to work at home. With that said, people will prefer a cosy and comfortable home, especially one with a beautiful outdoor space.
For instance, adding a composite decking can add around 10% value to your home. Many estimate that a new deck in your backyard will lead to at least a 70% return on investment. For decking, you have a few options. Wood decks generally add the most value due to its low initial price. Unfortunately, they are notoriously high-maintenance and don’t last as long as others. On the other hand, composite decking has a higher initial cost, but has lower upkeep expenses and can last at least twice of a typical wooden deck. So if you are planning to sell your home immediately, a wood deck can be an excellent option. But if you’re planning to add comfort on top of value, a composite deck is a better choice.
Landscaping is also an excellent home improvement, as it could add up to 20% of your home value. Adding a new lawn, planting more trees, and starting a beautiful garden are some of the home improvements you can do. Even a small yet decent garden makeover can increase your home’s value by around 5%.
With so many people in the UK focusing on outdoor living spaces, a beautiful patio complete with landscaping and decking can generally add up to 20% of your home’s value. For a £200,000 property, that translates to £40,000 gained value.
More Space Means More Value
Any added square footage is a plus for potential buyers, especially in the UK. Depending on your location, a cellar or a garage conversion can be an excellent home improvement. And as opposed to adding new rooms or building extensions, a conversion is classified as a change of use. Meaning, you don’t have to worry about getting a lot of paperwork. Of course, you may still want to check in with your local council for any specific rulings. It’s marginally cheaper as well.
However, any conversation of this kind can still be expensive. You may need to prepare at least £1000 for a square metre of cellar conversion, whereas a garage conversion can cost anywhere from £5000 to £7500. In any case, it’s still a profitable home improvement as creating a new space for extra bedrooms or living spaces can add up to 30% of your home’s value.
Minor Changes for Major Value
If you’re on a budget, don’t worry. There are plenty of home improvement projects that you can do, even without tearing a hole in your savings. For instance, a small redecoration of your home’s exterior can increase its kerb appeal. Spend a thousand and two, and you’ll have more potential buyers.
Cleaning and maintenance will also go a long way if you’re planning to sell your home. The truth is, many experts believe that a dirty home is one of, if not the, biggest turn-off for potential buyers. Lastly, with minimalistic styles becoming more popular, decluttering your home inside and out can also increase your home’s kerb appeal.
Which Home Improvement Adds the Most Home Value for UK Home Owners? is a feature post