Whether you plan on living in your current home for a few years or are buying a property with the sole purpose of flipping it and making a profit, finding ways to add value to your property so that you can sell it for more money is a smart and savvy idea. Homeowners can protect their investment by looking for ways to add value to their property, so if they were to ever put their home on the market, they can rest assured knowing that they are likely to get a good ROI. This could ensure that they can move to a bigger home.
But what are the best ways to add value to your home? Certain investment options may seem profitable, but don’t offer much return once you take a closer look at them. Plus, there may be smaller changes you could make that may never have crossed your mind before.
Are you looking to add value to your property but are unsure on the best way to do so? If so, the following article is here to help you decide on the best way to improve your home’s kerb appeal while adding value to it.
Covert Your Basement
Do you have a basement or cellar? If so, this could hold a lot of potential, and many homeowners fail to unlock it and leave their basements empty or use it as a place to store items they do not particularly care for. Rather than leave your basement unused, you can renovate it and use it for something much more exciting.
Firstly, you will need to check your basement and see if the integrity of the room is intact. Typically, you will not need planning permission, but if your home is a listed building, then you will need to speak to your local planning officer. You should bring in a contractor so that they can look at your basement and see how you can improve the air quality, the air flow, lighting, and ensure that there is no damp or mould.
Once this has been covered, the fun can begin. Decide what you want to transform your basement into. You may want to turn your basement into a nice area you can chill out in, such as a games room or cinema room. You could even turn it into a bar area for you to host cocktail evenings if this is your type of thing. Or, if you are running out of space, it could even become a home office or even another bedroom.
Convert Your Attic
Much like a basement renovation, an attic renovation can add value to your home because it is, effectively, adding another room to your home. Plus, if you turn your attic into another bedroom, that could add up to 15% to your home’s overall value (you can add more if the bedroom also has an en-suite bathroom!).
Check to see if you need planning permission; there is a chance that you will need permission to change your attic. Once this has been sorted out, you can decide on the type of attic conversion that best suits your needs but also matches your budget. For example, a roof light conversion requires the least amount of structural work and could, therefore, be the most cost-effective measure.
Attics make for great additional bedrooms. However, they can also be a great place to add a home office.
Create an Outdoor Dining Area
For those who love to entertain and who enjoy relaxing outside (especially during the summer months), why not create an outdoor dining area that allows you to host a gathering of friends and family? Look at decking options so that you can have a smooth flooring that is great to create an alfresco dining area on. For instance, Ecoscape offer cheap composite decking options that add character and value to a property due to their beautiful design and the high quality materials used to create their products. They offer a range of colours, so whether you are after a more modern and contemporary dining area or one that suits a bohemian aesthetic, be sure to check out their catalogue and see what it is they have to offer.
Once you have chosen the decking, you could include seating, a cocktail bar, or even an outdoor cooking area so you can show off your chef skills while entertaining your guests. Add a parasol so that your guests also have a spot to shield from the sun.
You home is supposed to be cosy and represent your personality. But that does not mean that you cannot find ways to add value to your property. By putting money into your home, you are protecting your investment and ensuring that if you were to ever sell, you can make a profit for your next home.