Home upgrades to add value
Adding value to your home is a key consideration for many home owners with many clients asking us which home improvements make the most impact when it comes to selling.
Of large-scale projects, research shows that a garage conversion or garden office may well provide the best return on your investment, especially with 44% of people now working from home (ONS).
With the cost of living at the forefront of minds, upgrades to energy efficiency can provide a better return on investment than a kitchen or bathroom renovation that may or may not suit a buyer's taste when you come to sell.
Smaller investments, such as redecorating and adding an electric vehicle charge point, can also add value. These projects also help your property appeal to a wider variety of prospective buyers.
Here’s the breakdown……..
Garden Office
Average cost: £9.5k
Average Value Added: £21.5k
Electrical Car Charging Point
Average cost: £1k
Average Value Added: £4.8k
Utility Room
Average cost: £8.1k
Average Value Added: £14.3k
Garage Conversion
Average cost: £13.7k
Average Value Added: £28.7k
Loft Conversion
Average cost: £37.5k
Average Value Added: £43.1k
Kitchen Upgrade
Average cost: £10.5k
Average Value Added: £15.8k
Source: Dataloft, Barrows and Forrester Property Group, ONS. Based on an average UK house price of £287,506.