We all want to make our way up the property ladder and to eventually buy our dream home. And whether that’s a large house in the country or a slick city dwelling, it all comes down to one thing: in the current economic climate we are having to do more and more to make money on our property investments, and from the aesthetics of a beautiful home to adding more space, there are many ways to do so. Here, we detail three simple ways to add value to your home.
Give your basement some love
This is maybe the most expensive of the conversions we will be detailing today, but before you even think about getting someone in to plan this work, you will need to sit back and really ask, “how much is my house worth?” Basement conversions, although a lovely addition, can sometimes result in you not reaping the benefits of your investment.
You will need to take a look at how much your house is worth per sq ft, work out how much space you will be creating with a basement conversion and then how much value per sq ft you will be adding. You will need to hire some professionals to plan the work, as well as move out of your home while the structural work is being done. However, a basement room can be a lovely and snug addition to the home, just be sure the cost is worth it in the long run before committing!
Go into the loft
Investing in a loft conversion is the easiest way to add value to your property and can be used as an extra bedroom, office, children’s playroom or nursery, or even an extra bathroom. Converting your loft will not interrupt your daily life as much as a basement conversion, as most of the work will be going through your roof. Remember, however, that you will likely need to strengthen the floor joists in your loft, as well as raising the floor and maybe even restoring your roof while you are up there! If you want to add a dormer window, it is likely that you will need planning permission beforehand, so make sure you check with your local authority. As a general rule, the money you spend on a loft conversion will come back as double on your property valuation. For example, if you spend $20,000, your property will gain $40,000 in value.
Think about a conservatory
It is often the case that conservatories look as though they have been bolted onto the side of a house with little or no thought put into it. However, there are some simple things you can do which will ensure your extended space will feel like the rest of the house. If you can, make sure the flooring used on your ground floor extends through to the conservatory and try to keep the theme and colors of your house going through too. By making sure that there is no exterior door, you will also make this extra room feel as though it is just a brighter extension of your living space. On average, a conservatory will add between four and seven per cent in value to your property.