Even if you don’t have plans of putting your house on the market anytime soon, you can still benefit from knowing how to increase the value of your property. This is important because it allows you to maximise the value of your home whenever you’re ready to sell.
Let’s look at the top 5 ways to increase the value of your property.
- Additional Bedroom
If you are unsure about how to increase the value of your home, you can start from here. The number of bedrooms in a property plays a big role in its valuation, so if you increase the number of bedrooms you’ll be adding to the sale price. However, there is a ceiling value for each street, so at a particular point, the additional expenses will stop to yield any return.
- Loft Conversion
This potentially adds to the value of your home as long as it brings more space rather than reduce the existing space. For a loft conversion, you would need to create room for a complete staircase which will take up some of the existing space, so that’s something to think about.
You can use roof lights or dormer windows to bring in natural light. Even though loft conversions do not normally need planning approval because you’re using existing size, you may have to get planning permission if your dormer windows are facing the highway. You might have to check this with the planners.
- Converting a House to Flats
This practice is very popular in London with the flats in high-demand and mostly easier to rent out. Therefore, breaking up a property into different units can help you get maximum rental income short-term and profit on sale long-term.
- Remodelling Jobs
Improving the existing layout before considering an extension is a great way to add value to your house. Improving the main living spaces like the living area, dining area, and the kitchen and how they work together can add maximum value to your property.
Draw up a floor plan of the current layout and play around with different options and scenarios. Fewer but bigger rooms with clear lines of sight can make a house appear bigger, especially if you use the same flooring and wall finishes throughout.
- Kitchen Extension
A kitchen extension going into a side return and using the full width of the remainder of the house means you can improve the layout while you gain some valuable space. A side return is an alley, albeit a narrow one, that runs alongside the kitchen in the normal terraced or semi-detached property.
Even though single-storey side-return extensions can normally be classified as an approved development, you’ll still have to adhere to building regulations. Ongoing works will be inspected at major stages, either by an approved independent inspector or the local authority building department. Once your extension is completed and adjudged to have complied with regulations, you should be given a completion certificate.
If you’re considering a side-return extension, have it in mind that you may lose windows as well as the light they bring in. To fix this, you can install roof lights over the extension. A partially or fully glazed roof can also help maintain the airiness and brightness of the space.