How to increase the value of your home

With some developers believing that the housing market is stabilising, many of us may be looking to carry out improvements to prepare our homes for sale or valuation. But what kind of work should we be carrying out to get the best return on our investment?

"Creating an extra room and extra space is desirable for most homeowners," says Peter Bolton King, chief executive of The National Association of Estate Agents (NAEA).

"Extending your property can work extremely well in adding value to the home if it is carried out to a good quality and for the right reasons and purposes."

Ensure you have the correct insurance before starting any building or repair work. Also be sure you seek planning permission for any larger projects. The government's Planning Portal is a good place to start.

Here are our top five ways to add value to your home:

1. Kitchen

"Large kitchens in the home are popular as individuals enjoy cooking in a spacious environment," says Bolton King. "The room has become a 'hub' for the family to congregate in."

As the focal point of the home it is important for kitchens to look clean and generously sized. Re-fit or replace old units, tiles and work-surfaces and replace or reface appliances that look worn or shabby, such as stove-tops and ovens.

Stand-alone work surfaces in the middle of the room can also increase work surface area and provide extra storage.

Some ground floor kitchens can be extended into the garden or a wall can be removed between the kitchen and dining room to create a large open-plan space that creates a fantastic family space.

The NAEA estimates a potential 5% - 10% value increase for properties with spacious kitchens.

2. Loft conversion

The additional space provided by a loft conversion can be used for extra bedrooms and living space, and according to the NAEA can add between 10% - 15% to the value of your home.

However, when approaching a loft conversion you need a head-room of at least 2.3m to proceed. If you own a flat you will need permission of the freeholder to start any building or refurbishment.

3. En-suite

A new en-suite or second bathroom can add worth to a property, but not if it is at the cost of a double bedroom, as downsizing bedrooms can devalue your home. Also ensure that you have a suitable number of bedrooms to each bathroom.

Keep the colours neutral and ensure that new and existing suites, tiling and grouting are in good condition.

A well considered en-suite addition could add around 5% - 10% to the value of your home.

4. Garden

Many buyers would favour a more spacious garden over an extra bedroom or bathroom, so don't ignore your garden when looking at improving the value of your home. Simply keeping lawns trim and plants in good shape can keep your property looking inviting to viewers and you can also consider decking options or landscaping to improve the space you already have.

Keep your outdoor spaces bright and spacious and clear of any clutter. If your garden is too small for flower beds then hanging baskets or flower pots can add a welcoming splash of colour.

5. Consistent DIY

Small, budget-friendly DIY jobs can be vital in improving on the value of your home.

Patch up any holes and give your walls a lick of paint, especially when you are looking to put your house on the market. Keep doorways and wooden parts of your home well painted or varnished and ensure that hinges, door knobs and light fixtures are all in good condition.

Keep your home free from clutter and in good shape and it will appear far more appealing and inviting to prospective buyers.

SOURCES

National Association of Estate Agents