Home renovation ideas can be overwhelming so today I am going to show you the best top 3 projects to increase your property’s value. Whether you’ve just bought your first property or your thirtieth, there’s always room for a bit of improvement.
Increasing your property’s value can not only boost the size of your bank account but can also help you achieve a sense of satisfaction from completing a design goal or vision. When it comes to improving your home, it’s best to know which types of projects are most suited to your time and budget.
If you want to work your way up the property ladder, it’s wise to carefully consider how any property upgrade can add potential value to your home; and which improvements will provide the biggest return on investment. Even if the property you’re in currently is your ‘forever home’, if you have a good understanding of what projects add value to your home, you’ll have a better understanding of property management for any future real estate projects you may take on. Keep scrolling to read our top three tips for how to dramatically add value to your property.
HOME RENOVATION IDEAS
This may sound extremely obvious but fixing or upgrading anything that is integral to your home is the best place to start when it comes to increasing the value of your property. It doesn’t make sense to first decorate a bathroom or add an addition to the home if the roof is collapsing. While these types of projects tend to be the most expensive, they are also the renovation projects that will add the most value to your property as well.
Typical structural defects include: damp or mold, a leaking roof, cracks in the walls, bowing walls, insect infestation, broken or missing roof tiles, rotten joists or timbers, a collapsed floor, and an unstable chimney stack. If your property as any of the problems listed here, it would be wise to get this these seen to first and foremost. If you are unsure whether a fault in your property is cosmetic or structural, contact a builder, surveyor or structural engineer to come around your property and assess the issue.
Another tip is to follow these interior design trends of 2019, for a modern, up to date look that will increase the value of your home, as seen in the infographic below by muchneeded.com.
HOME RENOVATION HEATING
Another way to increase the value of your home is to upgrade the central heating. If your property is older, than it may not have a central heating system. Or even if your home is not quite that old, the heating system it currently has may not be the most up to date. Updating or adding a central heating system will always add value to your property and should also be done in conjunction with improving the energy efficiency of the building as well.
This includes (but is not limited to): replacing windows that are not salvageable with double glazed windows, adding insulation to any loft spaces and sealing any drafts around doors or windows. You can even consider adding heated towel racks or underfloor heating to your home (if your boiler has adequate capacity) to make your home even more attractive to future buyers and yourself!
HOME RENOVATION SPACE IDEAS
According to the National Association of Realtors, a typical attic bedroom conversion that includes a small bath, has a national median cost of $65,000, and retains 61 percent of its value when a homeowner goes to sell it in the future. Natural light can be brought into the space with dormer windows or roof lights.
Before building, property owners should first check if the attic roof will meet ceiling codes, which are normally about eight feet. A structural engineer can also tell you whether the attic floor joists can support the additional weight a remodeled space will bring, and find out if the rafters can support drywall, lighting, plumbing and other necessary building materials.
No matter what home improvement project you take on, investing in upgrading your property is an ideal way to improve your knowledge of real estate while improving the value of your home.
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WHICH ARE YOUR TOP 3 BEST HOME RENOVATION IDEAS?