Home improvements are a great way to give your home a new lease of life. Whether it’s a new conservatory or simply a lick of paint, there are some that improvements that can add up to $32,000 to the value of your property.
You may be looking to sell your home but with the property market still in a state of stagnation many sellers are finding it difficult to sell their property. Some are forced into accepting a lower offer whilst many are simply just unable to find a buyer.
In this first part we will look at the top five high cost home improvements that can add over
$50,000 of value on to your property.
- 1. Loft conversion
It is said that a decent loft conversion can add up to $32,000 on to the value of your home. A loft conversion can add another bedroom to your property making your 3-bed into a 4-bed.
Costing up to $20,000, a loft conversion is one of the more expensive home improvements but one that you can easily apply yourself to. It is also a great opportunity to add loft insulation to help reduce heat loss and ultimately your energy bills.
- 2. New bathroom
It is quite easy for your bathroom to look out-of-date and unappealing over a long period of time. Again a new bathroom may not be cheap costing anything between $1000 and $3,000, but the results can far outweigh the initial cost.
Not only is it possible to add up to $5,000 on to the value of your home but it will greatly increase the appeal of your property. Buyers are always looking at the state of a bathroom and having an en-suite will add that wow-factor to your property.
- 3. Conservatory
Not only can a new conservatory be expensive but it can also be quite a hassle obtaining planning permission from your local council. Be sure about what you want to use the conservatory for i.e. a kid’s playroom, an extension to your living room or kitchen, and then get the professionals in. A conservatory can add up to $15,000 on to your homes value.
Two key things to think about are the disruption it will no doubt cause during the building process and the reduction in outside space once the work has been completed. You will also have to shop around for home insurance quotes as you will need to add cover for the additional floor space.
- 4. New kitchen
A brand new kitchen could cost in excess of $12,000 but may only add up to $8,000 to $10,0000 worth of value on to your property. This is something you will seriously need to consider.
It may well be that you do not need a brand new fitted kitchen, just a touch up here and there. See part two of this article where we will look at low cost home improvements.
- 5. Double glazing
One thing that all potential home buyers look for is if the property has double glazing or not. It can cost The two main benefits that double glazing offers are
- Improved security – Double glazed windows usually come with modern locking technology and with the glass being less likely to be removed it makes your home even more secure. Not only that but the frames can withstand a large amount of force and even the most extreme weather conditions.
- Energy efficient – With energy prices on the rise there has never been a more important time to be energy efficient. Double glazing keeps the heat from your central heating locked in your home and according to the energy saving trust can save you up to $180 a year.
In part two we will look at the top five low-cost home improvements.