How to Increase Home Value in 2024
For some homeowners, the prospect of selling might be on their minds this year. As asking prices have been lowered, why not compensate for this by increasing the value of your property through various home improvements? We’ve listed a few suggestions below to help you decide what to choose.
New Kitchen
You don’t need to go the whole hog to add real value to your home. If your kitchen has seen better days, then a full refurnish will be much more beneficial. Otherwise, simply upgrading the handles, taps and splashback could be all you need to bring back some life to an otherwise tired looking room.
If the budget allows, upgrading to energy efficient appliances could offer both an aesthetic facelift and improved functionality. Simple kitchen refits can add around 3–5% to the value of a home, while larger ones can add up to 10%.
Conservatory
A modern, new conservatory can do wonders for your home. By granting you additional space, you can increase the size of your home without necessarily needing planning permission. With proper consideration for energy efficient glazing, you can ensure the space isn’t too hot in the summer or too cold in the winter.
Providing the conservatory is well constructed and fits the style of the home, it could add 5–10% to the house price.
New Bathroom
Similar to upgrading your kitchen, you don’t have to replace all the sanitaryware to offer more of a benefit to homebuyers. Simply replacing old, worn taps or showerheads can help, as can a new toilet seat. In other cases, regrouting the tiles or providing a deep clean can give the room a significant lift.
Refreshing the bathroom has the power to potentially add 2% or 3% to how much your home is worth.
Resin Driveway
Perhaps the most modern, uniform drive finish you can install, a resin driveway can really give your home that “wow” factor. They are also easy to maintain and have the potential to last for decades. The only downside is that these resin surfaces are quite expensive, at least compared to other options.
Installing a resin drive can add a massive 5–10% to your property’s value.
Smart Technology
A much smaller upgrade you can give your home is the integration of a smart thermostat or smart boiler. These pieces of kit allow you to control your heating much more economically. Some even have the ability to reduce your energy bills by compensating for the weather and learning your heating habits.
Paired with improving insulation in the loft and walls, you could add 3–5% to your home’s worth.
New Garage Door
You may not think a pristine garage door can increase a home’s appeal to homebuyers, but there are various designs that have this power. Automatic or roller garage doors can be the most impressive, being able to automate the opening process or fold away into a compact state. The key is improved security and better insulation.
A complementing garage door has the power to increase your home’s value by up to 5%.
Home Security System
Depending on which system you have installed, and how extensive it is, you could see a potential return of up to £20,000 when you come to sell your home. Adequate security with an alarm, central hub and suitable features can go a long way to putting buyers’ minds at ease.
Find out how much you’d pay for home security by getting a tailored quote below.