Commentary: Some home improvement projects add more value to your home than others
We give market commentary when journalists or news outlets approach us directly for comment on specific topics. We share our commentary here too. See below.
When looking to add value to your home, it pays to do your research first as not every project will add as much value as you think and you need to balance this expectation with the cost incurred to carry out the work.
Where should you focus your efforts?
When looking to add value to your home, it pays to do your research first as not every project will add as much value as you think and you need to balance this expectation with the cost incurred to carry out the work.
Our research shows that adding more space, such as a loft conversion or conservatory, will add the most value to prospective buyers.
Windows and roof are a safe bet
Buyers also see value in the core foundations of a good home such as great windows, a sturdy roof, even a fresh lick of paint. These are the essentials that will save them time and money in the long-run and are unlikely to clash with their tastes.
Beware of personal taste
“A bathroom or kitchen refit can help in terms of modernisation. However, it might not add the value you think if you go over the top with your own personal style as this can put some buyers off.
Solar
“Modern improvements such as solar panels do appeal to a certain segment of the market, but they can be an expensive addition and may also fail to add the value you expect in the eyes of potential buyers.”
Whenever we're purchasing property from a client in our "we buy any house" service, solar panels are often a real stumbling block when it comes to the legals. We can still work through it and get to completion quickly, but they can really introduce and added layer of complication to a house sale. You can read more about issues with solar panels here.
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Where should you focus your efforts?
When looking to add value to your home, it pays to do your research first as not every project will add as much value as you think and you need to balance this expectation with the cost incurred to carry out the work.
Our research shows that adding more space, such as a loft conversion or conservatory, will add the most value to prospective buyers.
Windows and roof are a safe bet
Buyers also see value in the core foundations of a good home such as great windows, a sturdy roof, even a fresh lick of paint. These are the essentials that will save them time and money in the long-run and are unlikely to clash with their tastes.
Beware of personal taste
“A bathroom or kitchen refit can help in terms of modernisation. However, it might not add the value you think if you go over the top with your own personal style as this can put some buyers off.
Solar
“Modern improvements such as solar panels do appeal to a certain segment of the market, but they can be an expensive addition and may also fail to add the value you expect in the eyes of potential buyers.”
Whenever we're purchasing property from a client in our "we buy any house" service, solar panels are often a real stumbling block when it comes to the legals. We can still work through it and get to completion quickly, but they can really introduce and added layer of complication to a house sale. You can read more about issues with solar panels here.
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