Five Ideas To Increase Home Value
By Candyss Lee Bryant
Increasing your home value is a hot topic and is beneficial for many reasons. Increasing your home's value may allow you to complete a cash-out refinance to give you access to cash for college or a new car.
FIVE IDEAS TO INCREASE YOUR HOME VALUE
Increasing your home value is a hot topic and is beneficial for many reasons. Increasing your home's value may allow you to complete a cash-out refinance to give you access to cash for college or a new car. These are the home improvement ideas that will add the most value to your home - up to 20%.
Garage Conversion (+15%)
If you are not using your garage, converting it into extra living space is a great way to increase it by up to 15%.
Loft Conversion (+20%)
If you have wanted an additional bathroom or guest room, building a loft extension is the best way to go about it.
A full-extension with a conservatory (glass sunroom), roughly costing between $10,000 - $30,000 will add an average of 11% to the value of your home according to Phil Spencer's 20 Ways to Add Value To Your Home.
New Kitchen (+6%)
The kitchen is the heart of the home, so the room to be improved is this one. A modern attractive kitchen is sought after by both buyers and valuation surveyors.
To ensure an ROI on your new sunroom, make it match as close as possible to the finishes of your existing homes, such as the floor and glass.
Other notable mentions:
- Improve curb appeal - Forst impressions are important. Updating your landscape is a great way to improve the look of your home.
- Create energy savings - Help reduce utility bills and decrease maintenance by providing energy-efficient upgrades.
- Get rid of minor repairs - Clean your baseboards, upgraded crown molding, clean windows, and make updates.
- Fresh paint - A coat of fresh paint can go a long way to impress buyers
*Data from Nationwide Building Society & Phil Spencer's 20 Ways to Add Value to Your Home