Owning a home can become a money pit if you’re not careful. With mortgage payments and maintenance costs, sometimes owning a home may not appear to be the best investment. To counteract this, you can make additions and changes that can add to your home’s value and later on pay off, come the time you decide to sell or remortgage. UK residents spend billions home improvements. and it is worth ensuring that the money spent will increase the value of the home. How can you ensure that the money you are putting on improving your home goes to the right project? Here are the top renovation ideas for Home improvements for the best return on investment.
Adding an extension
Naturally, if you add extra square footage to your home, it is bound to increase its value. Your options include adding more space to the kitchen or dining area or a double-storey extension to add more bed rooms. These additions can add anything between 20 to 50 percent to the value of your home.
Homes with at least two bathrooms are worth more than those with only one. Better yet, you can consider bathrooms that are en-suite with the master bedroom. More home buyers are looking for the added comfort and convenience of a master bathroom. You don’t need to splurge on luxurious fixtures. Instead, opt for classic yet straightforward designs bound to appeal to the majority.
Open floor plan
A trend in interior design is open-floor plans where each living area seamlessly melds with one another. An open floor plan creates an illusion of space and has a modern appeal. Consider turning your kitchen and dining area into an open-floor living space. Doing so could add around 6% to your home’s value.
An extra bedroom will undoubtedly increase the value of your home. If you have additional space such as an attic, you can turn it into a spare bedroom. Otherwise, an extension can also be a worthy investment so that you can add an extra room. Your investment will pay off and add around 10% or more to your property value.
Consider adding a conservatory
Some may think that conservatories are a thing of the past, but they are making a comeback. However, you have to make sure that in building a conservatory, it has to be high-quality and made of glass. A well-built conservatory can add about 5% to the property value.
In choosing the type of renovation for your home, always keep a balance between indoor and outdoor space because buyers are also attracted to spacious and well-planned gardens. Before thinking about adding an extension, consider how much of the outdoor area is left. Buyers need to see that there is still enough space for a garden or a patio.
Choosing the right project in which you put your money can give you the best return on investment. Don’t waste money on unnecessary adjustments which will not add to the property value. Always think about the impact of each renovation project on the saleability of your home to ensure your money is well spent and return on investment is maximised.