Home improvements to boost value and your quality of life

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As a homeowner, the last thing you want to do is make changes to your home that negatively impact its value and resale price. Whether you want to sell soon or not, lowering the value of the property you own isn’t a goal for anyone, and being able to avoid common renovation mistakes or building alterations can help you steer clear of a property faux pas.

Having said that, there’s a fine line between making renovations for you to enjoy and making them simply to add monetary value. The former will give you a building you can enjoy, relax in, and call home, while the latter will only serve to impress a perceived audience who may or may not even exist. It can also be a really good way to waste money.

So, how can you create a vibrant home that embraces who you are as a family while still appealing to potential buyers should you decide to move on?

It begins with assessing how the property works for modern lifestyles, uncovering what you need from the property, and making calculated yet purposeful decisions regarding your home. Focusing on what can improve your property’s function, layout, and appeal to buyers puts you in the driver’s seat of your home’s value and your living experience.

Here are some home improvements to boost value that will always go down well with prospective buyers and improve your quality of life while you live there too.

Wooden flooring

More and more people are seeing the appeal, simplicity, and functionality of wooden flooring, be it engineered wood flooring, laminate, real wood flooring, or the classic and timeless parquet.

When it comes to adding value to your home, the type of wood flooring you choose will determine the amount of impact on sale value. Hardwood floors like oak are more desirable than softer woods like pine, and solid or hardwood flooring is preferable for many buyers and homeowners alike. While wood floors like LVT are still stunning and can create a significant impact on aesthetics and functionality, real wood floors are where you will add the most value. 

The typical increased value of a home with a real wood floor can be anywhere from 3 to 5%, meaning a home valued at £300,000 can increase in value on average anywhere from £9,000 to £15,000. It’s worth noting that this is not guaranteed, and the actual increase is dependent on the market, the quality of the flooring, condition, maintenance, and size of the property.

Create a parking space

Parking is at a premium across the country. If you’re struggling for space to park on the road at your home or if you have parking restrictions, adding a driveway will not only benefit you in real time but can also enhance the value of the property.

Adding a parking space is estimated to add 5-10% to the value of your home. Research by HOA.org.uk found that adding a driveway to a property in Surrey can add just short of £13,500 to the value.

However, there are some conditions you need to think about before adding a driveway. First, you need to have the space to do this. Second, you might need planning permission from your local council; always check before carrying out any work.

This home improvement may be worth doing even if you don’t own a vehicle, as you can be sure potential buyers will find it useful. In the short term, you can rent out your driveway to help you recoup the cost of creating it and even earn some extra money.

Kerb appeal

Investing in your home’s kerb appeal is never a wasted endeavour. Studies have shown that you get a mere 7 seconds to make a good first impression, but people are more likely to think favourably of your interior if the exterior looks good.

So, if you want to entice people through the doors or prove to the neighbours that your home is the home to live up to on the street, putting your money outside can repay your efforts.

Upgrade heating

A new boiler can add up to 4% to the value of your property. If your heating isn’t up to the task of warming your home, investing in an upgrade will improve your quality of life and also appeal to potential buyers.

A modern boiler with the capacity to heat your home effectively while being economical is an ideal investment. Consider also updating old or impractical radiators and ensuring that the heating system is fit for purpose and in good working order.

Garden room

For those lucky enough to have plenty of outdoor space, a garden room can not only improve your living situation but also increase the flexibility and value of your property.

Garden rooms can range from small snugs and glorified sheds to fully waterproof, heated, and insulated buildings. The type of garden room you add and the quality of the build and features will dictate the expected returns you can enjoy.

In the meantime, you get the extra space to use as you wish. A garden room can be an office, a games room, an entertaining space, a gym, a kids’ room, a yoga studio, or a craft room. The possibilities are endless, and the flexibility it offers can significantly enhance your quality of life.

Loft conversion

A well-thought-out loft conversion has the potential to increase your living space and your home’s value. Some reports estimate a £20,000 spend can garner an increase in asking price of around £40,000, but again, the size and specifications will dictate the actual amount.

If you are adding an extension, this will indeed cost more, but you can recoup more, too. Loft conversions with ventilation, windows, or an ensuite will add more value if you decide to sell. However, the value of additional living arrangements, especially for smaller houses or those with larger families, can be significant if you invest in this aspect of your home to increase usable living space.

Landscaping

There’s no denying that recent years have seen a major shift in attitudes towards landscaping, with more people than ever investing hard-earned cash into how the area around their property looks. Well thought-out and executed landscaping can allow you to enjoy your outdoor space in a way that benefits your lifestyle.

The following landscaping aspects or features can enhance how you use your outdoor space and add value at the same time:

• Increasing privacy by adding higher fences or solid fencing to give you more personal space. You can usually install fences up to 2m without planning permission.
• Adding shelters. Pergolas offer shade and privacy as well as defined spaces for eating or relaxing.
• Introducing defined spaces. Paved areas for seating or outdoor cooking, grass areas for pets, play areas for kids, vegetable patches, and flowerbeds are all welcome garden additions.
• Adding decking is attractive to buyers and can help create more defined spaces or make better use of uneven ground.

Sold.co.uk found that a well-appointed garden can add up to 20% to a home’s value, and around 70% of buyers would pay more for an attractive outdoor space.

So there we go, effective ways for you to increase the enjoyment of your home while also increasing the value of your property. Remember, it’s not guaranteed that making these changes will add value, but they can make your home work for your family and your lifestyle, therefore making it worthwhile for you.

Have you had success with home improvements to boost value on your property?