Homeowners as of writing are currently having to make choices about what home improvement projects are most important to them. There are a number of home improvement projects as well as products or additions to your home that you can install that can increase the value of your home. Although rises in material costs may deter some homeowners from investing in their homes in the current climate – it’s important to bear in mind that the overall percentage increases that you can achieve in terms of house value will also scale with the cost of materials at any given time. This article takes a look at why it’s a great time to consider investing in your home and why you should go ahead and carry out a project if you’ve been on the fence or haven’t gotten round to arranging to upgrade your home.
This article is written by Capital UPVC, one of the leading providers and installers of UPVC Doors in Cardiff.
Large Projects – Increase The Value of Your Home
Larger projects will carry higher price tags and expect to find that costs will have increased because of the increased cost of materials. Issues such as supply chain issues from COVID and delays in manufacturing, shortages of materials as well as supply issues such as the conflict in Ukraine have all had an effect on the prices of materials. However, investing in large projects on your home can add a very nice percentage increase in your home’s overall value. As a general rule of thumb – projects that increase the number of rooms in your home tend to offer the most in terms of increased value.
We have stated some average increases in terms of the value of your home in terms of percentage value below:
- Converting a cellar or attic area depending on the size into a fully functional room can increase the value of your home by up to 30% – allowing you to market your home as an additional room.
- Converting a space such as a garage area into an additional area could see an increase of 15% in terms of overall value. Again – creating an additional living space can also make your home more marketable.
- Extensions to your home such as extensions to the kitchen space or adding a modular extension can also see increases of around 15-20% on average. This is because of the fact that you can add a fully functional living space and expand your home.
- Installing a conservatory or orangery in your home can increase the value by around 10%. Ensuring that your conservatory or orangery is insulated correctly so that you can enjoy it all year round is highly recommended.
Home Improvement Can Be Completed on a Budget
Upgrades to your garden area to make it more desirable and carrying out smaller upgrades such as changes to your bathroom can also increase your overall home value by 5-10%. These projects don’t have to break the bank and some homeowners instantly think that a home improvement project is going to be a massive wide-scale project with huge costs. There are a number of projects that you can consider on a tight budget that can increase the value and more importantly – the marketability of your home. Consider projects such as:
- Upgrading your garden with small changes. Adding some plants, creating a small patio area or installing a new fence. Add a lick of paint to your current fence and tidy up your garden and you can upgrade your garden on a very strict budget.
- Changing your kitchen doesn’t have to break the bank. Invest in a new appliance, change the look and feel of your kitchen through using different paint and change the handles on your cabinets and cupboards on a budget.
- Upgrade your door. Potential buyers will see the front of your home first and first impressions matter – tidy up the front garden if you have one.
Thinking about the marketability of your property is key – and we highly recommend you take home improvement into consideration!