All home owners have probably wondered at some point whether they should invest in extending their home or move to a bigger home. And while debating to move or improve – there is always the big question of which improvement would bring the biggest return should you decide to sell your home later on? We prepared a guide with insights into what to prioritise.
According to recent research average home improvement can add 10% to the value of your home. But what areas are most likely to yield strong returns? Peer-to-peer company Zopa asked users of their platform to tell them about the changes they have made, the money spent carrying out the work and the profit that they subsequently achieved.
Adding a conservatory can be crucial
At the top of the list of home improvements with a guaranteed return, adding a conservatory can be far more lucrative than say, renovating a bathroom – as the addition of a conservatory is said to present owners with an average 108% return on their investment.
Garden Appeal
The next best step to a lucrative home improvement is transforming your garden. Since many people are known to decide to buy a house only based on its curb appeal, investing in the exterior of your home and its garden pays off.
A tidy exterior and outdoor space is key to the first impressions to many buyers. It is certainly true that many are put off by dirty walls, and tatty lawns – both are signs of neglect and can immediately put potential buyers off of your home.
Other areas to improve
Other areas you might want to consider investing to secure a good price for your home are: a new roof (63% return), fresh, neutral carpets (50%), a loft conversion (50%), new kitchen (49%) and a new bathroom coming offering a potential 48% investment return.
If you would like to invest in extending and improving your home, why not have a chat to your local Clyde Property branch? Our friendly staff will be able to give you accurate insights in what improvements are worth it and give you an accurate, personalised evaluation to your home, based on local trends and recent local history.
