Well, if you own a home and trying to sell it or rent it, then you must think of how to add value to your home. Your house is an asset. It will provide you with passive income, either in the form of rentals or as one-time revenue off of its sale. So some certain factors you should know if you want to keep the value updated or add some new modern fixtures that will increase your home’s value.
In this article I discussed the key factors to increase the value of your home and at the end there are some exclusive tips that you can implement to improve and boost your home’s value.
Table of Contents
A good renovation increases a home’s value?
If your house is old enough or no renovation work has been done since you bought it then go for a nice and functional renovation work that will add some extra value to your home.
- Extend your house to increase functional space that allows more activity. If you have enough space at the rear or at the side of your property you can extend it as per local planning laws and guidelines.You can extend as much as the house planning guidelines allows you to.
- With that extended space you can add the functions that are missing in the house. You can use the side extension as a bedroom, a bathroom or even a garage. It depends mostly on what the house requires most.
- At the rear extension the most common function is an open plan kitchen.In some cases this also includes dining and living. This extension increases your home value significantly. Because this kind of space allows nice family gatherings that people like most. So the value of your home increases automatically.
How a sunroom can add value to your home?
Well, a sunroom adjacent to your house or in the garden can make a major impact on your home value.
What is sunroom?
A sunroom is a space covered with clear glass that allows direct sunlight into the space. This is a very interesting space for the home occupants to spend some time experiencing sunlight without having any disturbance by natural forces like snowfall, rain etc. This allows rather enjoy them perfectly.
A functional loft conversion adds value to your home
A functional yet beautiful and finished loft conversion can add extra value to your home. Because a loft is not generally visible from outside but when experienced from inside it seems to have a lot of space in the house. This feeling adds an extra benefit especially while you are trying to sell the house.
To make a successful loft conversion you need to consider the following aspects-
- Study the possibility and opportunity of your loft conversion.
- Check the existing ridge height, it should be at least 2m.
- Decide the best possible stair position.
- Try to position the loft bathroom at the top of the existing 1st floor bathroom.This will make the service pipe run easier.
- Keep the lowest point of the loft bedroom at least 1m, so that a bed head can be placed nicely.
- Arrange adequate natural lights especially in the stair space.
- Refurbish the loft space as finely as possible. Because a good quality loft space can increase the value of your home and can add upto $50k to $70k with your house’s original price.
These are very few of the required concerns for a loft conversion design.there will be many more regarding your particular project. Commission an expert architect or designer who will make a best possible solution for your loft to renovate.
If you want a direct professional planning service for loft or extension, you can contact me here.
How much value does a bathroom remodel add?
A bathroom is often reveals the dignity of a home.If you have a nice, functional and modern bathroom then the value of your house often jumps, Generally it increase up to 4-5% of your home’s actual value but good quality remodelling can push the threshold. So refurbishing and remodelling your bathroom will make a unavoidable impact on your house value.You can remodel your bathroom in two major phases:
- Design and planning.
- Reconstruction according to the design
Design and Planning: If you want to make a bathroom stunning and eye catchy then there is no alternatives of proper planning and design. Without this the actual impact can’t be perceived in terms of increasing your home’s value. So design your bathroom that perfectly functional, aesthetically pleasing and economically sound. Consult with a professional interior designer who can give you a perfect concept for your bathroom remodel according to your need and budget.
Reconstruction according to the design: This phase has several steps. I have discussed it in detail in my other article that you can check here. I am mentioning summarized points here:
- Romove all the old and outdated fittings.
- Romove old tiles.
- Replace the concealed plumbing equipment if they are damaged fully or even partially. Because it will arise lot of problems later during long term use after you sell or rent your house.
- Rearrange the placements of WC, showertray positions etc.
- Install new tiles according to the design specification.
- Install the new fittings.
- Place the tiles grouting. Wait 3 to 5 days before use.
How a fireplace increase home’s value?
In the beginning of the housing era, around 18th to 19th century the fireplace was most essencial fixture of a house. Specially in Europe and America. After the evolution of technology the electric room heaters took place of this. Now, this essential fixture become more aesthetic element of a house and increases the dignity and add an extra antique value to your house.
If you have already an old fireplace at the lounge of your house then give it a modern touch with some shelfing arround it of something functional that your interior designer think best for your house.
A fireplace can push the value of your home by 6-12%. The electric firepalce is more acceptable because of its low maintenance and easy use. Also low energy consuming features are more attractive to the buyers then the treditional ones.
A nice patio can add value to your home
A nice and inviting patio will make a significant impact on value to your home.there are two types of patio generally we see in the houses:
- The front patio
- The back patio
The front patio: its generally need to be very inviting as its the entrance approach of the house.A nice inviting front patio make a great impact on your house and express that your house is well maintained and finished.It makes a great positive impression to the buyers or the renters.
The back patio: it is another impotant part of your house because this back patio functions as a semi outdoor space and make a great relation between natural environment and house indoor.It is a space generally placed towards the rear garden of the house and functions as reluxation space in the afternoon or at the evening. Also it has a functional demand during any family functions take place in the outdoor garden.
A nice and finished basement add value to your home
If you have a basement in your house, then it sould be considered and paid close attention. Because a finished basement will really help to add a significant value to your home.
I am not discussing more here about finished basement in this article as it described elaborately in my another article –
Basement apartment can add value to home
If you have enough space in your basement and you can make a small basement apartment that is rentable for family or for the multiple occupants then it really boost up the value of your home.This small apartment will make a great impact on the decision making of the potential buyer of the house. Because it will return $1k to $1.5k easily every month.So If you have an opportunity to convert your basement to an well furnished apartment then you should take it.just consider some rational things:
- Well ventilation is ensured, both natural and artificial.
- Adequate natural lighting specially at the rear of the house.
- Proper moisture protection should be ensured.
- At least two bedrooms and one bathroom can be placed.
- A decent size kitchen-diner can be planned.
- It would be great if a reception loung can be planned.
Add new siding to increase value of your home
Adding a new siding or replacing existing one can increase the value of the house envelop along with the aeithetical enhancement:
- Add cement siding for external finish. It durable for long term use and have capacity to fight external moisture.
- A good quality siding can increase house appeal and beauty.
- A durable siding can insulate your house strongly.
- The newer siding reduce energy consumption of house, So it can be more cost efficient in terms of maintenance.
- Durable siding materials are vinyl, fiber cement, seasoned wood, natural or fabricated stones.
Some exclusive tips to add value to your home
- Take expert advice before making any change on your house. This will help to extract the ultimate value of your house. Consult with an experienced and skilled interior designer for the best of your house.
- Reduce the energy costs that your house consumes. Take the professional advice who make audits of energy consumption. They can give you a best solution regarding the energy cost reduction.
- Planting trees and flower shrubs can improve the house environment that will make impact on your house value.Planting valuable trees will be a asset for you too and you can claim an extra demand for your house.
- Nice landscaping with low maintenance will add different value to your home.The homebuyers always look for a well organised property both naturally and artificially. So a nice low maintenance landscape can give you an extra amount of cash.
- Keep the lawns clean and fresh. This increases neatness of the property.
- Keep your home also neat and clean. This also have an impact on the buyer’s decision making.
- Make your Home looks BIG internally! You can do it by making open plan lounge,diner and kitchen. This system makes your house very big to look at even if you have lower square footage.
- Update your kitchen. When you think of to sell your house then make your kitchen look more modern and finished with modern equipment.
- Maintenance and update features regularly. Dont ignore any small problems like electric socket malfunction or plumbing pipe leakage. This small things will ignite major problems later.
- Last but not the list, paint your house. Painting with nice eye soothing colors in well composed way can increase your home’s value significantly.
Culmination
Add or increase home value does not really depends on two, three aspects. This is a collective impact of many things like renovation, extension, loft conversion, basement renovation, landscaping, cleanliness, maintenance, painting and many more. By following the above described aspects and tips will really help boosting your home’s value.