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How to increase the value of your house – Information from ASDA

 

Adding value is the latest buzz phrase in the property market as Britons seek to increase their property prices.

Climbing the property ladder has been made more difficult by a slowdown in the housing market. But staying put is no bad thing if you can breathe new life into your home with modifications and upgrades.

So what is the most effective way of boosting a property’s value and getting the most from your living space?

Loft conversions and home extensions - handy tips!

Increased living space equals increased value. And pound for pound, loft conversions are the most cost-effective way of increasing the selling price of your home.

First, you’ll need to do some homework and find out whether your vision for loft living requires planning permission.

Consider whether your home is suitable for conversion. Ideally, you’ll have a steeply pitched roof which is high enough to create a light, airy space.

Loft conversions also affect the floor below because you’ll need space to build a staircase. That will need proper planning, so call in the professionals if you don’t have the necessary skills.

Get a loft conversion right and you could boost the value of your home by more than 15 per cent.

Likewise, an extension needs to be properly planned and must be in keeping with the rest of your property.

All properties have a ceiling on their value which is set by their location. So don’t overspend on a huge home extension and create a house which dwarfs those of your neighbours – because you won’t recoup your outlay come resale time.

Converting a basement is a trickier proposition. Generally the advice here is tread with care: converting a cellar into living space can mean foundations need to be reinforced and major damp-proofing work carried out.

Space for your car

Many households have more than one car and building a garage can add 15 per cent to the value of a home in an urban area. Garages are so desirable that it can be a mistake to build a garage conversion – in some cases you’ll dent the resale value of your property by doing so.

Improve your bathroom and kitchen

The cost of fitting a new kitchen or bathroom is unlikely to be fully recouped when you come to sell your home. This is because your dream worktops or corner bath may not be to the taste of a buyer and they will move in and rip them out.

But if you’re planning to stay in a property for some time then why not enjoy the fruits of home improvements?

And a well-maintained, fresh-looking home will be far easier to sell when you do put it on the market than one with a dingy bathroom or worn kitchen.

Do a professional job

If you’re going to improve your home, do it properly. That goes from everything from kitting out an extension with high-quality fixtures and fittings to calling in decorators to wallpaper a room if your DIY skills aren’t up to the job.

Bodged decorating or poorly-fitting electrical and plumbing fittings will be noticed by prospective buyers, or their surveyor, when you come to sell.

Another word of warning – DIY modifications can invalidate your buildings home insurance policy.

The recent trend for open-plan living has resulted in instances of dangerous DIY removal of interior walls.

Get this wrong and you’ll weaken the structure of your home with potentially lethal results.

If in doubt, call in a builder. A builder should have insurance cover so if they get it wrong, you won’t lose out financially.