There is some misconception regarding what improvements and renovations add value to a property. While plenty of smaller fixes can be made, such as redecorating or changing fittings, a time may come when you have a larger sum of money to invest in your property. In these instances, it pays to know a little about what changes will add the most value to your Staffordshire property.
Loft Conversion
The loft is often a dead space in a house, filled with boxes and old trinkets that could probably be thrown out. Thus, moving into the loft is an astute decision, particularly if you turn this into a livable space and not just an area for storage. This can add around 16% in value to the property.
A full conversion with alterations to the roof and an en suite bathroom can come in at around the £35,000 mark. This makes it one of the pricier options and a serious investment, meaning you will have to raise some capital. If you have other properties, you may consider selling one to fund the improvement. Companies like Sold can offer immediate cash offers if you need quick money, or they can put the house for sale using a more traditional route. This gives you a range of options from a name you can trust.
Single Storey Extension
A single-storey extension is another major investment to your home and one of the pricier options at around £30,000. However, it can add around 11% to the value of a property. This is because just like a loft conversion, it adds more liveable space.
The only drawback with this is that you may need planning permission, and it could take some time. In the UK, as per Extension Architecture, single-storey extensions can be created if come out of the main building by no more than three metres on semi-detached, terraced and link-detached houses. They can come out four metres on detached houses. In addition, they may not be higher than four metres from the ridge and eaves. There are also restrictions on how much land around the house can be built upon.
If you are lucky enough to live in one of Staffordshire’s listed buildings or are in a conservation area, then expect the process to take longer. Older buildings may also be costly, as certain materials and methods may have to be used in the work.
Kitchen Remodel
Of all the improvements to make, a kitchen remodel will add the most value to your property. This is the central hub of the house, where people cook and meet to dine. Thus, a great kitchen can not only add value but be a real eye-catcher and improve its chance of selling.
The average kitchen remodel costs around £15,000 according to Checkatrade. In many cases, this can result in an increase of 10% in the value. This can be even higher if you are replacing outdated appliances. If you don’t have this budget, then even a small refresh, replacing fittings and fixtures can add around 2% to 3%.
All of these figures are based on a three-bedroom house worth around £250,000. Being in Staffordshire, property values will be higher than the national average so they may vary. Budget efficiently, do your research and you will be sure
