Sellers beware, unless it’s your forever home, don’t be too hasty in making home improvements. Great plans can turn out to be costly mistakes when homeowners break the bank on property projects that won’t add value when you come to sell.
Kitchen
Everyone knows a great kitchen is a big selling point for homebuyers, but when redesigning your kitchen, be careful not to spend too much.
Homes tend to have an upper limit when it comes to value – in a property that’s £1m or under, you won’t make more money installing an eye watering super expensive kitchen with state-of-the-art appliances.
Creating a light airy and practical space is what counts – it needs to be clean, well presented with units and worktops that are functional and in good condition with decent lighting.
Bathroom
Again, avoid opting for a super spec when you fit a new bathroom because like kitchens, a swanky bathroom is unlikely to lift the value of your home above the ceiling price for a similar property in the same location.
If you want to splash out on luxury fittings, like a hi tec digital shower or Jack and Jill vanity units, you may create a ‘wow’ factor, but be prepared for your prospective buyers not to be swayed to pay over the odds for the end result.
If you want to maximise your chance to get the best price, spend money on ensuring your property has a first floor bathroom. Research finds that a downstairs bathroom could lose around £13,500 off the value; 44 per cent of surveyed homeowners said not having an upstairs bathroom would discourage them from buying a property.
Dining Room
Now more than ever when people are working at home and families are home schooling, making a permanent structural change and losing a separate room could be a mistake.
Open plan living is very popular, but times and trends change and with so many of us now being based at home, the importance and value of having a private space away from the hubbub of family life, is not to be underestimated.
Bedrooms
As a nation, we tend to be fixated by the number of bedrooms our homes have. Houses are largely valued in the number of bedrooms, so keep this in mind when you are contemplate losing a bedroom to create a bigger room.
Flexibility is key when it comes to space and whilst it’s fine to turn a bedroom into a home office/study, hobby room or a gym for your own lifestyle, when it comes to selling, buyers will need to be able to see the space function as a bedroom with options, so reconfiguring it with a bed is a smart move.
Loft
Expertly done converting a loft space into a proper functional room can definitely add square footage and improve the overall flow and layout of a property.
To make sure you get your money back, especially when turning a loft space into an extra bedroom with or without an en-suite bathroom, you will need to undertake the works in line with building regulations.
Using an architect or experienced builder will mean that when it comes to selling your home, all the legal paperwork is there for your buyer and the solicitors, making the sale process far easier.
Garage
Yes converting a garage into extra living space – a home office or a playroom perhaps, can be appealing. But you should think this through carefully because if it means you lose your only parking – don’t!
Consider the amount of storage your property has inside and out. We all know many people never put their car in the garage, but so many buyers want the space to store bikes, the lawnmower, a ladder, children’s toys, and DIY paraphernalia. Usually no seller will profit from the cost of a garage conversion.
Garden
Outside space has never been so appreciated; it’s been a sanctuary during lockdown. Most people prefer a garden that is easy to look after and won’t take up too much of their free time.
So whilst you may love spending money on creating a beautiful rose garden or shrubbery, installing a summer house and fancy borders, be warned that most buyers won’t want to take on your time consuming passion. They certainly won’t want to pay a premium for a pretty garden, but obviously a well maintained and colourful garden can show off any property well when it comes to selling.
