Five tips for increasing the value of your home

May 10, 2023
Increasing home values

UK property prices saw a surprising, if modest, rise of 0.5% in April, following months of decline, according to figures from one of Britain’ s biggest lenders, the Nationwide.

So a house-price crash has certainly been avoided. And if this news, plus the (mostly) milder weather is making you think of moving home, early summer can also be a good time to think of how you can maximise your property’s value.

Here are our tops tips for giving the worth of your home a boost:

Improve energy efficiency

Not only are all homes rated for energy efficiency these days, but property owners need to have an up-to-date Energy Performance Certificate (EPC) when selling, so potential buyers will appreciate anything that boosts the place’s energy efficiency.

That could include wall or loft insulation, a new boiler, or double glazing.

The CAB has more information here.

Add a cellar, loft or garage conversion

Not got planning permission, finances or room for an extension? There are alternatives, from a conservatory to a loft, cellar or garage conversion. (If you’re thinking of converting your loft, remember you’ll need to have enough space for the staircase to access it.)

A garage conversion will be the cheapest of these projects, followed in price by the loft and cellar conversions respectively.

Fit a fresh kitchen

Clearly, it’s a big job and not a decision to take lightly. But Installing a new kitchen is a popular thing to do – and with good reason. Indeed, according to the Post Office, these projects account for a quarter of all home improvements completed during the past five years. Not only can revamping the ‘heart of the home’ refresh the appearance of a property, but it can enhance its value by up to 26%. (Again, that’s according to the Post Office.)

You could also consider creating a smart-looking, multi-purpose space by combining your kitchen with the dining room.

Build an extension

If you have a growing family, you could decide to ‘improve not move’, and this could be the financially sound solution. As you’d expect, a bigger extension will increase the value of your home more than a smaller one. It’s always a sizeable investment, so go with a reputable builder and be sure you’ve thought the project through before work begins.

According to the Office for National Statistics (ONS), a medium-sized extension (measuring around 25 square metres) can put nearly £60,000 on to your property’s price tag.

Go open plan

If you just knock a wall through, it can make a surprising amount of difference in terms of creating a bigger/brighter living space. And although it can be pricier if you have to remove a supporting wall, for a professional this job should be relatively straightforward to do.

As well as this, if you have a large property, you could consider splitting it into two (or more) residences.

Get in touch

It’s a good time of year for renovations, with longer hours of daylight and drier weather conditions. But while all these ideas can seriously enhance your home’s price tag, none of them is especially cheap. If you want advice on a second or bigger mortgage to help cover the cost of your home improvement, talk to us.

At Mortgage Centre Online, we offer quality, trustworthy mortgage and financial information. Get in touch today to learn more.

Related Posts

The Average Cost of Moving Home in the UK

The Average Cost of Moving Home in the UK

What is the average cost of moving home in the UK? If you’re considering moving house, it’s essential that you understand all the costs involved and how much these are likely to be, so that you can budget accordingly, compare quotes and assess how you could...

What are the benefits of using a mortgage broker?

What are the benefits of using a mortgage broker?

You probably already have at least some idea of what a mortgage broker does. But, for the avoidance of doubt, this is an adviser who will review available home loans based on your own financial situation, and apply for one for you. Some work over the phone or in...

Can I have more than one mortgage?

Can I have more than one mortgage?

People often ask us whether it’s possible for them to hold more than just the one standard mortgage at the same time. The short answer to that question is yes, it is definitely possible to have more than a single home loan at any one time. In fact, there’s no legal...

What is a property chain?

What is a property chain?

You have almost certainly heard of a property chain – but would you be able to explain to someone else exactly what one is? Do you understand how chains work, or how you can manage them? In a nutshell, this circumstance arises when a group of property sellers and...

Can I Get a Mortgage with Bad Credit?

Can I Get a Mortgage with Bad Credit?

Bad Credit History & Mortgages If you’re one of the many people in the UK with a history of bad or adverse credit, you may automatically assume that you’ll be unable to find a mortgage. Whilst it can be harder to find the right mortgage product, it’s certainly not...

How much deposit do I need to secure a mortgage?

How much deposit do I need to secure a mortgage?

If you’re considering purchasing your first property and haven’t previously taken out a home loan, you’ll need to know how deposits work, including how much to save. Why do I need a mortgage? As you’ll appreciate, lenders need a deposit as security or assurance on the...

Share This

Share This

Share this post with your friends!