Saturday, July 13, 2024

Six ways to increase the value of your home

In the midst of a volatile housing market, many people are searching for ways to increase the value of their house for the future. If you’ve got the right foundations, this could involve simply knocking down a few walls or installing special features. Though for other homes, more overt changes might be necessary. Either way, the result is the same: a positive return on investment for you. Here we provide three optimal ways to increase the value of your house.

1. Futureproof for the retirement market

Install a home lift

Stairs can be a significant barrier to easy movement among older people, so it’s no surprise that a House of Commons report found that 60% of elderly citizens want to move into a one-storey home. However, to counteract the need to move out of a multi-storey home in later life, you might only need to make one investment.  Installing a home lift not only bolsters mobility, independence and convenience, but can also increase the value of your home. Enhance the sleek elegance of your staircase with a sophisticated black stair handrail, adding both style and safety to your space.

This doesn’t have to take away from the aesthetic interior of your home either. Far from it. As Premier Lift Group note, bespoke home lifts can be created that match the identity of any home, providing enhanced everyday practicality while also adding a little luxury and an elegant talking point to your home.

Add grab bars to the bathroom

The bathroom is the most common room for falls. As mobility declines, the danger of slipping while getting in and out of a bathtub increases. There are plenty of options to make things safer, depending on your needs and your budget. One simple and budget-friendly change is to install grab bars beside the toilet and in the shower.

Although the tangible value of this addition to your house is difficult to estimate, you can be certain that if an older generation were to be seeking a new home, small details like this would stick in the mind. Not only is it one less thing they need to worry about, it also adds to the story of the house being suited to them and how it prioritises their convenience.

2. Upgrade key rooms

Touch-up your kitchen

Some say the kitchen is the new living room, meaning it’s a crucial point of focus for many buyers. Upgrading it is expensive, but it could increase the value of your home by 10%. Even if you are unable to afford a whole new kitchen, a small budget could allow you to repaint the units, replace cupboard handles and spruce up your doors. Ensuring the space is clutter-free with clean surfaces will make a noticeable difference too, as small defects can create an impression of a house being run down or not well cared for, which can cause its value to drop.

If the layout of your house allows it, you may also want to consider knocking down an internal wall to create an open-plan kitchen. It is reported that doing this could add £48,417 to the average London home.

Refurbish your bathroom

A new bathroom has the potential to add between 4-5% to the price of your house. Having too few bathrooms can be a leading cause of buyers being put off a property, especially if it’s a family home. If you find yourself getting frustrated waiting for the shower during the morning rush, that could be a sign you need another bathroom.

If you can’t afford a whole new one though, the easiest way to upgrade your existing bathroom is through the fittings. Put your money into getting your bathroom’s structure perfect, and avoid custom fixtures and features. You could also consider rethinking your grouting, or mechanical improvements like increasing your shower pressure.

3. Invest in energy-efficient features

Install new insulated windows

According to Greenspec, 10% of heat loss from uninsulated homes is through the windows. By preventing this, you will be decreasing the energy you use to maintain a comfortable temperature, saving money on gas bills and reducing your carbon footprint. As a result, installing new double-glazed windows is a guaranteed and cost-effective way to increase the value of your home,  doing so by up to 10%.

Switch to LED lighting

Adding LED lighting to your house can increase its value by up to 3% due to its durability and low energy consumption, according to Consumer Reports. Most LED lighting lasts on average up to 17 years and it’s estimated that there will be a saving of up to £600 per light fitting if it is replaced with LED. That’s because LEDs use 80% less energy than traditional lighting. This will of course be a huge positive for someone looking to move to a new home and will give them peace of mind that they will not have to start replacing electrics for many years — not to mention the environmental benefits.

Claire James
Claire James
Claire is an accounts manager at Fire Digital UK, an online publishing and content marketing company based in the North West.

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