Many people embark on home improvement projects with the aim of raising the overall value of their homes. Whilst some projects will add real value to your home, other projects will not even re-coup their costs. We look at the projects most likely to provide a good return on investment. Central heating This is pretty much an essential commodity nowadays and homes without central heating are likely to receive a poor reaction from potential buyers. Opt for energy efficient systems that potentially use 20 to 40 per cent less energy. Kitchen Stylish, modern, good quality kitchens tend to be an excellent selling point, but remember to keep your outlay in proportion to your home's value. Fitting a luxury kitchen into a starter home is unlikely to increase the property's value enough to justify the expenditure. Bathroom Buyers will also be impressed by a well appointed bathroom. A good move for owners of larger family homes would be to install a second bathroom, provided the space is available. Insulation Increasing energy costs and environmental concerns provide a strong case for good insulation. Areas to look at include; roof lagging, hot water tank covers, pipe lagging, draught excluders and double glazing. Extension Extending your home to create a larger kitchen or add an additional bedroom has traditionally being a good way to add value to your home. However the value of your property will also depend on your neighbourhood, so transforming a former council house into a seven bedroom mansion is unlikely to produce a significant increase. Decorating A quick and simple way to improve the appearance to your home and win the approval of potential purchasers. Although decorating will not significantly increase the value of your home, it will help you sell your property quicker and achieve your desired sale price. Garden improvements Neat, well-maintained gardens are popular with buyers, providing a blank canvas for keen gardeners and lower maintenance for those with less time or interest. As with decorating, the garden is unlikely to make a significant impact on the property's value, but can be very helpful in achieving a quicker sale. |
