Most houses have some scope for advancement but that are the right ones to make? Can a swimming pool create a property more appealing to buyers — or even less? Might it be worth creating another bathroom if you are losing a bedroom at the process? Before you go spending your renovation budget, it may be important to understand that improvements are in fact going to give you a return on your investment and which aren’t.
In research undertaken by Tile Mountain, we’ve created a handy reference guide to the most common home improvements homeowners make based upon the median home price across three crucial housing markets and which are most likely to add real value to your property. What makes a property more precious in Sydney compared to one in South Hampton or St. Louis, Missouri? We break it all down below.
Home Improvements at the United Kingdom
With parking restricted in built up cities or cities, including a driveway might be one of the most cost-effective improvements you can make. While the expense of turning your front garden into a driveway might be as much as #1000 generally, it could add #5000 into the cost of your property.
Growing families, the fact that young adults are leaving home afterwards and also the high price of elderly care may all be factors when considering a loft expansion. What you might not understand is that along with the additional space, it is also a great way to raise the value of your property. When it is time to market, you could observe a possible return on investment from 100 percent to 150%.
Speaking of the demand for space, it’s interesting to note that many UK homes with garages do not really contain a car at all but it is much more likely to be being used simply as storage. It is little wonder why some are converting these spaces into living areas if space is at a premium.
Another one of the very popular improvements is that a kitchen expansion but be aware: it does have a ceiling cost. Developing a small extension with a modern kitchen can add greater value than one where you completely blow the budget. A #10,000 kitchen extension in a mean property can add as much as #20,000 to the value of your home. For a more cost efficient option, consider replacing existing wall tiles and flooring by looking for great deals from online retailers like Tile Mountain and contemplate units from areas like IKEA or Homebase which provide kitchens at a lower price point.
An en-suite bathroom in a master bedroom might appear a lavish but it can actually add substantial value to your property and make those retail property consultants very happy.