Are there really easy, cheap ways to increase your property value when some seem to cost thousands to do?
Apparently there are, according to research by HSBC.
It’s actually possible to spend a couple of thousand pounds on your property and increase its value by £10-15,000.
Here are some of the ways you can increase your home’s value with a relatively small outlay.
add a Conservatory
It depends what sort of conservatory you build, how much it will cost and how much it will enhance the price of your property. Average costs are:
- Lean – Could cost an average of £3-5,000+
- Victorian – Could cost an average of £4,000
- P Shaped – Could cost an average of £5,000
- Orangery – Could cost an average of £10,000
It’s really important to make sure that the conservatory is well-made as a badly-built conservatory can actually reduce the value of your home.
However, in the UK a conservatory could increase the overall property value by 6-13%. So if your home is worth £100,000 a good conservatory could up that to around £110,000.
install Double Glazing Windows
Based on A Rated windows
- Detached House £175
- Mid Terrace £105
- Flat £65
Traps heat within your home leading to more efficient heating use. Again, though, make sure these are fitted properly. Having windows with constant condensation can put buyers off.
Cost depending on amount / size of windows – estimated – £5,000 -£10,000
a new Bathroom
A new, impressive bathroom can really sell a house. Make sure that the colours are neutral and that at least one of the bathrooms in your home has an actual bath. Many buyers like to have a bath as well as a shower.
The average size of a bathroom in the UK is 8ft x 6ft. So the average price to renovate would be £2,000- £4,500
If it is done well (and doesn’t include an avocado porcelain set or something similar) it could add value of 4 – 6% on to a property in the UK
a Loft Conversion
This is where you can make a significant improvement to the price of your home. If you can add a room – and particularly if you can add a bathroom/washroom to it – you are highly likely to increase the property’s value. Make sure you get planning permission first though.
The average cost in the UK to add a loft conversion is £15,000 – £30,000 depending on size and location of property.
That’s a lot but it can add a massive 10-15% on to the value of your property.
install Solar Panels
Solar panels can help with your heating bills as well as increasing the value of your home.
The average cost to install them is £3-7,000 depending on the size of roof / how many panels are in question.
The energy efficiency they create depends on which season you’re in. Summer will give you more energy than winter, for example. They’re estimated to last around 25 years or so and could add an average of £2-5000 to the property value.
build an Extension
Extensions come in all shapes and sizes and in the UK they cost an average of £19,000.
As they directly increase the size of the property, they can increase the value by 15-20% – so long as they are well built.
They usually cost £1,200-1,500 per square metre squared outside London and £1,500 – 2,000 per square metre in London and the South East.
renovate the Roof
The cost to retile or renovate the roof of an average sized house in the UK is £5000
It can increase the property value by 60-70% of the initial roof renovation cost.
Smart Home technology
Installing various smart home technology systems can increase the value of your home. Here are some of the main ones you could use:
Nest – £249
- Could save on average 30% on bills PY
Hive – £249
- Could save an average £150 PY
Tado – £199
- Could save an average 30% on bills PY
Google Home – £100
- Amazon Echo £149
- Panasonic £129
Hoover Smart Washing – £499
- A+++ energy rating
- Weighs clothes and makes a decision on how much water to use
Wallyhome Water Monitor – £299
- Detects leaks and potential damages around the home
Hoover Wizard Fridge £489
- A+ energy efficient
- App controlled temperature
Nest Protect 2nd Gen – £88
- Recognizes source of smoke – false alarms
- Communicates via app
Sensor & Entry System
- Canary Security £199
These technology ‘extras’ can add an average of £3,000 – £10,000 on to the overall property value
quick easy hacks to make your home sell
You can help your home to sell – and get a better price for it – by doing these
- Give the place a really good clean. It’s even worth paying professionals to come round and steam-clean your home. A good level of cleanliness can make all the difference between a home selling and not selling.
- Tidy up and get rid of clutter. Put extra stuff in boxes and either get rid of it or store it somewhere else while you have the property on the market. Again, a tidy and uncluttered home is more attractive to buyers.
- Do a quick paint job. Sometimes just a lick of paint around the windows and on walls that are really tired-looking can lift the look of a home.
- Dress the property. It can be worth investing in some cushions, mirrors and a few other nick-nacks that will make people see what the home could look like if they lived there. Don’t leave it to their imagination because most people don’t have enough!