How to add value to your home  

Adding value to your home is straightforward. Making money often involves spending money when it comes to investments, and your home is no different! Whether you are looking for a quick flip or a total revamp, it’s important to make the right choices.    

Below, we discuss the best ways to add real value to your home... 

A few ground rules 

Do not overspend! Make sure your changes are impactful and necessary. If a refurbishment adds to the quality of your living space, then do it, just don’t get carried away. 

Be resourceful, shop around conduct plenty of research. Don’t just sign on the dotted line in a branded store, consider independent tradespeople to carry out the work, they may do a better job for less.   

Kitchen or bathroom?  

If the kitchen is in good shape but the bathroom is crying out to be replaced, then you may get more for your money by choosing a bathroom renovation.  

It could be that you need to do both the kitchen and the bathroom, arguably the two most impactful, important and costly rooms in the house.  

A new bathroom can add up to 5% to the value of your house while a new kitchen can add up to 15%, do the maths and see what you can reasonably spend. Then, enjoy the quality of new tiles, colours, materials, and cabinets with a new space-altering layout.   

Loft conversions  

Loft conversion can add between 10 – 20% to the value of your home, but be warned this is not an easy task. Firstly, check if you can convert your loft, beam heights are critical here, so you will need to get a reputable builder to give a good appraisal. There is lots of red tape involved in creating a new bedroom, office or bathroom in your loft. The good news is that this is often much cheaper than adding an extension to your property.  

Garden and outdoor living spaces 

A nice garden with outdoor living space is almost like adding another room to your house. Be careful, a few shrubs and trees with maybe some decking and already you have spent thousands. Perhaps not as guaranteed to add the same levels of added value to your home as other areas but still worth doing and will complement the entire living experience of your home. Bifold doors removing the traditional boundaries between an indoor and outdoor living will enhance this further.  

Energy efficiency  

A new heating system is not a massive investment and will save money on energy bills and easily add more than the cost of replacing the system, while not putting potential buyers off with the prospect of replacing the boiler.  

Solar panels are becoming increasingly popular. It’s an attractive proposition, particularly in today’s climate; to be self-sufficient when it comes to producing electricity. In some cases, you may even be able to supply the local electricity board and get paid!  Lower your carbon footprint or consider running your car to gain more savings. 

The little things you can do 

Sand and paint internal and external doors and skirting. 

Check out your floorboards, in older houses often these can be sanded and varnished and will look beautiful on completion.  

If you can’t afford to replace tiles and cabinets, consider painting them.  

Improve or replace lighting and light fittings. 

Sort any damp problems. 

Replace carpets or old laminate.  

 Bad bathroom grouting often brings the value of a home down far more than the relatively low cost of getting it sorted.  

Check the guttering.  

Replace windows and doors.  

Paint and decorate the internal walls and remember, if you are selling soon, use safe, neutral colours. 

It’s all good 

Whatever you decide to do, all these measures, and any you think of on the way, will add value to your home in more ways than one!    

Just finished your home refurbishment, wondering what it’s now worth? Get a valuation or browse our properties for your next move.   

Buying your first home will most likely be the biggest purchase of your life so far. Are you fortunate enough to have access to a lump-sum of money? Have you won on the lottery? Inherited an extremely rare and valuable heirloom? 

Sadly, lots of us are not in any of these wonderful predicaments, so good old-fashioned saving is the key – but particularly in the current climate, this is often the biggest hurdle to deal with when getting your foot on the property ladder. 

Decide how much you need to save 

Depending on how much you, your partner, or your friend earn, your deposit is a big factor in deciding how much you can borrow. To get a good idea of how much you could borrow, use any of the major high street mortgage lenders' mortgage calculators. Usually, banks ask for a 10% deposit, but the chances are that you may be eligible for a first-time buyers' scheme, some of which offer 5% deposits. The larger your deposit, the less interest you will typically pay to the lender of your choice. Whatever your circumstances, all this will help you determine what you are entitled to and give you an idea of how much you need to save. 

Set a target 

Now that you know how much you need to save, calculate how much you can save per week or per month. Then calculate how long you will have to save for to reach your target. Before you do this work out how and where you can save on how much you spend! 

Top tips for spending less and saving more 

Rent 

Can you rent a room instead of an entire flat or house? Would you consider moving back home with your parents or with a relative with a spare bedroom?  

Cars 

How many cars have you got in your current household? If you and your partner both drive, then could you get by with one car? If you have financed your vehicle, then settling that finance helps matters too.  Your mortgage provider will look at any monthly outgoings and existing debts when deciding how much they will lend you. 

Food 

One of the biggest expenditures for households these days is food. Think less takeaways and more culinary creativity. Prepare for the fact that when you buy your first home, you may want to cook more food from scratch. There are numerous tips and guides online to help you reduce food costs by developing your kitchen skills. Make it fun, invite friends, and enjoy it! 

Get the right savings account 

Now that you have worked out how much you can save per month, choose an account that will pay you the most interest. A good savings account will give a return, rather than a costly current account. Then, set up a standing order so that the money is transferred into this account and cannot be spent. 

ISA 

Depending on how long you are saving, you might consider an ISA. Tax-free and offering interest of up to nearly 5%, this can help speed up your saving and reach your target sooner. 

The rewards 

Remember to reward yourself for this change in lifestyle – make it fun! See it as an opportunity to improve yourself, and when you reach certain targets, reward yourself so that you have some fun along the way. Just because you are saving more and spending less does not mean that it must be a miserable process. You may find that some changes make your life better. In many ways, it’s about growing and adapting to life as a homeowner, because for the first time, you will have a mortgage to pay. 

Looking for your perfect first home? Browse our properties today.