Property value is a crucial element in getting the best mortgage deals. A vast number of homeowners across the UK spend on renovations each year to increase the value of their homes. While there are some who are willing to shell out big money for significant home improvements, not all big projects guarantee the best returns. Small changes can prove very cost effective when the time comes to assess the value of your property. So, which home improvements add the most most value for UK homeowners?
Kitchen and bathroom upgrades
No surprise that this leads the list for which home improvements add the most value to the property. The kitchen and bathroom and two of the most commonly renovated areas of a house. This is hardly surprising because just about every person who is looking to buy or rent a property zeroes in on the kitchen and bathroom in making the decision. To save on the cost of renovating a kitchen or bathroom, a little bit of research goes a long way. You can look up information about the best brands and fixtures online to get the products at affordable price points.
New boiler or heating equipment
Getting a new boiler does not only raise the value of a home, but it also helps you save money with improved energy-efficiency. New boilers don’t come cheap but are undoubtedly worthy investments.
A well-insulated home uses less energy than a poorly insulated home; hence, you pay less on your energy bills. Double-glazed windows is another renovation option you can look into that is sure to bring a good return on investment.
Garden and patio make-over
Your outdoor space is equally important. Your home’s overall value increases if you spend a bit on renovating your garden. Perhaps you can consider adding a paved walkway or a small patio to make the outdoor space appear more inviting.
Make rooms bigger
A few large bedrooms are better than several smaller rooms. Consider breaking down walls to extend bedrooms and make them bigger.
An extension is a big-ticket item and should be a consideration if there is a significant need for space. Nevertheless, investing big on an extension can also pay off by the time you think about selling your home.
Adding extra bedrooms
If there is enough space in your home to convert into a spare bedroom, you should consider it. Otherwise, you can factor in the cost of a new bedroom if you decide to have an extension to your home.
Converting a loft
Attic space is valuable if you turn it into a functional room such as an office, a bedroom, a gym or storage space. Leaving your loft unused is a waste of precious space. If you do decide to invest in renovation, prioritise unused areas such as the attic.
Redecorating is another popular renovation option. You don’t have to spend much to modernise a home. You can repaint walls, hang new wallpaper, buy new furniture and maybe undertake some general maintenance and upkeep to breathe new life into different areas of your home.
Install solar panels
Using alternative energy sources is becoming increasingly popular these days. Solar panels are also slightly more affordable now than in years gone by. Investing in solar panels may be a good idea if you want to save money on your utility bills while adding a bit of modern flair to your property.
If you are considering home improvements and don’t have the cash outright (few of us do), then a home improvement mortgage may be a good option. There are some lenders who offer this, alternatively, you could speak to mortgage advisers who can work out the most suitable options for you.