There are many things households and developers can do to increase the value of their property, from small redecorating jobs to loft conversions and kitchen extensions. Whilst bigger projects will typically add the most value to a property, there are a range of different ways to make the most out your space, regardless of the budget.
Below are a range of different ways to maximise the value of a property:
- Creating extra parking spaces
- Adding insulation
- Loft conversion or extension
- Small redecorating jobs
- Sprucing up the garden
Those listed above can help you make the most out of your property, adding to its appeal and further it value.
Creating Extra Parking Spaces
Creating extra parking spaces could add considerable value to a property. In some areas (like Central London) parking is a sought after feature that many are willing to pay extra for or rent out to the public for events or work days.
If the property is located in the right area and has enough free space, it might be good to consider adding some off-street parking to push up its value.
Properly insulating a development can have multiple benefits. Not only can proper insulation cut down the cost of your monthly heating bills, it can also make a property more energy efficient, boosting its EPC rating and subsequently its value. See our guide on how to save money on developing a property.
You can insulate cavity walls, as well as the loft/roof to improve its energy efficiency. Additionally, double glazed windows can help to keep heat in whilst also shutting noise out; adding value in terms of energy efficiency whilst preventing damage to value from noise pollution.
Loft Conversion or Extension
Bigger projects, such as a loft conversion or extension, can add significant value to a property. Adding new spaces can make a property more appealing to buyers and also attract buyers who would not have initially looked at the property.
For example, by turning the loft into another bedroom you open up the property to those wanting more bedrooms/space. Adding extra bedrooms (and rooms in general) also increases the value of a property.
Extensions to kitchens, dining rooms and more can also greatly add to the value of a property, opening these rooms up and making bigger, more attractive spaces.
A loft conversion will typically increase the property’s value by up to 20% and a new kitchen can add 10% to 15% in additional value. This kind of work will typically require planning permission.
Small Redecorating Jobs
Whilst bigger projects usually add more value to a property, the smaller redecorating jobs can also have a big impact on its overall look and appeal. Having leaky taps, broken lightbulbs and peeling paint whilst seemingly small issues can make a property look run-down and unattractive.
Some of the smaller jobs you can then do to spruce up a property are as follows:
- Fixing dripping taps.
- Cleaning dirty walls.
- Removing built up limescale in the bathroom and kitchen.
- Replacing broken lightbulbs.
- Repainting walls.
Although some of these features may not seem like much, collectively they can all help to make a property look more attractive, and potentially add value.
Sprucing Up the Garden
Having a tidy and well-designed garden can do wonders to the value of your property, creating an additional space for people to entertain and relax in. Cutting back any overgrown grass and removing any weeds can help to tidy up the area, whilst adding new plants, outdoor furniture, or even small water features can turn it into a beautiful new space in the property.