We all dream about increasing the value of our home. Whether through wholesale changes like converting an attic, or cosmetic adjustments such as new wallpaper or light fittings, making the most of what we have is always a good idea.
However, deciding what work to carry out and when can often be a logistical nightmare for the unprepared among us.
According to research, though, the quest for increased space has actually surpassed location as the number one concern for homeowners.
When we consider the still stagnant property market and recent findings, renovating your existing property to maximize its space should be a top priority.
But how? These top five tips will help you to know where to start!
1. Construct a Conservatory
Built conservatories add value to your home and offer you a bright and airy space to relax with the family and catch the summer sun. A quality lean-to can actually help you beat the economic slump, adding around $9,000 to the value of your home.
2. Insert an En Suite
Ideal for homes with more than two bedrooms, an additional bathroom can increase the value of your home significantly. Experts reckon that an en suite boosts the value by around six per cent, but you should never install one at the expense of a bedroom, for example.
3. Renovate the Kitchen
In most homes, the kitchen is the beating heart, which is why an outdated kitchen is likely to put off potential buyers. Instead, you should maximize the available space by installing an impressive kitchen – with experts claiming it can add between five and 20 per cent to the list price.
4. Boost the Bathroom
Whether you’re staying put or looking to sell, a dark and damp bathroom is never a good idea. Although a nice suite can add around three per cent to the value, avoid installing top of the range fittings as these will very rarely provide much return on your investment. Make sure your bathroom blends well with the architecture of your home and it has a timeless appeal. That surely will attract a big number of buyers.
5. Convert the Attic
Take a look above you – that’s right, your attic space can be converted into a new bedroom or study, potentially adding around 10 to 20 per cent to the value of your home. Typically, an attic conversion is more cost effective than an extension and offers you the opportunity for expansion if building out is not an option.
Images: 1: George Penniman Architects, LLC, 2: George Penniman Architects, LLC., 3: Schwartz and Architecture, 4& 5: Cynthia Marks – Interiors. 6: Hanson General Contracting, Inc., 7: Cynthia Marks – Interiors.
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