A house is as much an investment opportunity as it is a home, and many people buy properties in the hopes that they’ll make a profit on their investment when the house is sold in the future. However, you don’t have to leave this to chance. Certain home improvement projects can add a significant amount of value to your home, leaving you in a better position when the time comes to sell up.
If you’re unsure of which home improvements add the most value, don’t worry! We’re offering our top home renovation tips so you can squeeze the maximum value out of your property and boost your potential returns.
How much value does a garage add to your house?
If you’re considering increase your house’s value with home improvement, it’s likely that you’ve already explored to option of adding a garage – but how much does this actually add to your home’s value? In built-up areas and densely populated cities parking space and land in general is sparse. As a result, demand for garages and parking spaces is increasing and people are willing to pay more to have these features in their potential homes.
Research has found that adding a garage can increase the average property value by up to 5%. Therefore, if you bought your home for £200,000, adding a garage could see you earning up £10,000 more than you would without one.
Does an ensuite add value to your home?
Similarly to adding a garage, adding an ensuite to one of your rooms can increase your property’s value by up to 5%. However, as with other types of home improvements, this depends on the setup of your home.
If your house already has more bathrooms than average, it’s unlikely that adding another one will add much more to your home’s value, even if it is ensuite.
It’s also wise to make sure you’re not sacrificing too much space by installing an ensuite. If it will make your room feel small and cramped, it might be best to explore other home improvement options.
How much does a conservatory add to the value of a house?
Conservatories are a common option for those looking to increase their home’s value – but how much do they actually affect property price?
According to research, a conservatory can add between 7% and 10% more to your property’s value, making it a sound investment option.
But it’s important to remember that gardens and outdoor space are also attractive for homebuyers. Therefore, you should make sure that you’re not sacrificing too much garden space with a conservatory, otherwise you may put potential homebuyers off your property.
Which home improvements add the most value?
Of the options that we’ve explored above, it’s clear that conservatories can add the most value to your property. However, there are a whole host of additional renovations that you can carry out to increase your home’s value. So long as you’re careful with costs and hire a high-quality contractor, you’ll see the benefits of your home improvement in no time.