Home renovations may be costly, but they can add value to your property and be beneficial if you intend to sell it in the future. However, not all upgrades are equal. Some come close to recouping costs after sale. For many people, renovations solve a family need but if you are looking to add value right away, projects that improve kerb appeal may be better than interior upgrades. Following are the most important things that can add value to your home.
- Update central heating. Updating or adding a central heating system always adds more value than it costs. Many buyers and real estate professionals consider it essential. However, it needs to be done alongside improving the home’s overall energy efficiency. You may have to seal any draughts, replace or repair windows using double-glazing or add insulation to the loft.
- Replace your front door. This is a win-win situation in terms of kerb appeal. It can return almost 90% of the cost in the sale price. Popular replacements include steel doors or stone veneers, but you can also consider other cost-effective options such as the contemporary composite front doors at Truedor. An attractive, secure main door is a winning feature for buyers and real estate brokers.
- Fix structural problems. Before considering cosmetic improvements, do not overlook major structural problems. You cannot hide these problems from professional valuers and risk scuppering a sale. These defects might include rising damp, collapsed flooring, bowing walls, leaking or sagging roofs, broken tiles, wall cracks, insect infestation, and many others. Repairing these defects can be expensive but it’s essential in adding value to your property.
- Makeover the kitchen. If your kitchen is old and outdated, it is a smart move to make it look hygienic and attractive. Real estate experts believe that the kitchen has a big return come resale time. Decide if you need to relocate it, considering its position and shape. It is worth investing in high quality kitchen units with bespoke features and superior draw runners. Lighting should be adequate and flooring should be easy to clean.
- Improve the exterior. While repainting or refinishing the exterior of your home will typically only recoup 80 to 84 per cent of the cost in resale, it’s still a good percentage, and can help make an excellent first impression for prospective buyers. Choose elegant-looking colours that can disguise dirt. A well-insulated exterior can also increase your home’s energy efficiency.
Certain modifications to your home can lead to a good profit. Whether it’s a simple reorganising, cleaning or small-scale improvements, make sure to ask a design expert.