If you’re planning to renovate your home, the question of “is it worth it?” should feature prominently in your rationale because, when it comes to increasing the value of your home, the answer isn’t always a resounding yes. What follows is a look at a few things people consider doing when seeking to invest in their current property, and an honest look at whether or not they add $$$s to your bottom line.
We consulted with online estate agents, Jet Homes to see what different things could be done to increase your house value and what were some misconceptions that could save you hundreds if not thousands of pounds. Here are some handy tips to help get you started.
Upgrading the Kitchen: Yes
Experts almost unanimously agree that a kitchen renovation should be at the top of any list, trotting out the “it’s the heart of a home” cliché. Simple touches like upgrading to stainless steel appliances and stone or granite worktops vastly increase the appeal, but there are some more cost effective methods too.
Details like putting new handles on cabinets and drawers or sparkling new taps can make a huge difference. Things such as under pelmet lighting can also make a big difference, consult a kitchen fitter or business for some advice on how to improve your home.
Revamping the Bathroom: Yes
A toilet that looks old, cracked or dirty – and maybe doesn’t flush properly? – is a major turn-off for any buyer. Proper lighting can also be a great boost to your home’s value and adding a window in the bathroom so natural light can illuminate the space is a sure-fire winner.
Think about creating space by storing items in wall units or even corner ground units and invest in good quality bathroom paint if doing touch ups, there’s nothing worse than flaky paint on a bathroom ceiling.
Converting a Bedroom: No
Turning a bedroom into a room that’s specific to your interests is a risk because once you start embedding wine refrigerators or bookshelves and desks to customise the space, it puts other people off. One of the experienced agents from JetHomes.com told us that “the room becomes less valuable, because the next owner may not want to spend money renovating that room, and they’ll most likely want to switch it back to its original purpose.” Steer clear of this one!
Laying Down Carpet: No
Don’t bother carpeting any room in the house that doesn’t already have it, as people are still in love with natural hardwood flooring and they are far easier to clean. A halfway solution could be laying down some rugs but whilst this may help sell the home, it won’t add any value to the final sale price.
If you’re looking to save some money here, engineered wood is cheaper than natural wood and looks good.
Redoing the Garage: No
Some people turn garages into family rooms or play rooms as they look to increase their living space, but that almost certainly makes the property harder to sell when it becomes time to move on. While it might be used to store lawnmowers and dustbins rather than a car, most people want their garage to stay as a garage.