Home Property 10 ways to add £100,000 to your property value in 2024

10 ways to add £100,000 to your property value in 2024

22nd Apr 24 12:59 pm

Owning a home is a significant investment, and maximising its full potential can bring immense satisfaction. While unforeseen challenges can arise, with a little planning and creative vision, you can significantly enhance your living space.

From adding an extra bathroom, to installing metal framed windows, here is a list of 10 easy ways to add £100,000 to your property value that will not only boost your home’s appeal but also make it a more enjoyable place to live.

Convert the loft

Approximate home value added: £40,000

When it comes to increasing property value, the most cost-effective solutions generally involve adding practical floor space. One of the most common methods of achieving this is a loft conversion.

Turning a previously neglected loft space into a new bedroom or a large office can add an extra 20% to the value of a home, which equates to around £40,000 for a £200,000 dwelling. This rise in value more than justifies the cost of the loft conversion which typically starts at around £17,500 for a bedroom with an en-suite bathroom. While the precise amount of added value depends on several factors like the roof structure, available space, and location, a loft conversion remains a popular choice for homeowners on the move.

Transform the garage

Approximate home value added: £25,000

Again, adding extra floor space is a guaranteed way to increase the value of a property and make it more attractive to potential buyers.

For example, a garage conversion that creates an extra bedroom with an en suite bathroom can increase your home’s value by as much as 10 and 15%. With average conversion prices ranging from £10,000 to £15,000, this is more than offset by the value you’ll add when the work is complete.

Garage conversions are particularly popular with homeowners with off-street parking, and if an extra bedroom isn’t a priority, you could turn it into a gym, home office, or children’s playroom instead.

Add a driveway

Approximate home value added: £20,000

In some parts of the UK with an abundance of crowded streets, the ability to park your vehicle close to your front door is the ultimate luxury. For anyone living in a built-up area, off-road parking can make all the difference when buying or selling a home.

It is likely to cost around £2,000 to £4,000 to drop a kerb outside your property and lay a driveway, depending on the size of the project. However, once complete the work could add £20,000 or possibly more to the value of your home. From added convenience to enhanced vehicle security to lower car insurance, adding a driveway can boost the worth of a property in many ways.

Create a home office

Approximate home value added: £17,500

The modern trend for hybrid working means many buyers will expect their next property to feature a dedicated office space where they can work from home. Not only is this a quick and simple fix, but it can also boost your property’s value by a significant five-figure sum.

Setting up a home office couldn’t be easier. Simply clear a spare room of any odds and ends, unwanted furniture, and large decorations to create extra space. After that, simply fill the room with regular office staples such as a desk, chair, shelving, and storage before you decorate your new, functioning space in your favourite colours to create a perfect work environment for your new buyer.

Replace old windows

Approximate home value added: £10,000

For a quick and easy win, introduce more modern touches to your home to increase its value. Not only can this add around £10,000 to an average-size, three-bedroom property, but it will also create a comfortable living space for both you and your visitors.

For instance, replacing old windows with double glazing or new metal frame windows can add 10% to the value of a home, enhance its kerb appeal, and make it more attractive to potential buyers who know their windows won’t need replacing. Not only that, but new windows reduce noise pollution and greatly improve insulation which will also reduce energy and fuel bills and save money over time.

Add an extra bathroom

Approximate home value added: £10,000

If the space you have allows, incorporating another bathroom into your living area has many benefits, not least the additional value it can deliver to a home. Whether you’re creating a completely new bathroom that’s separate from other rooms, or adorning a master bedroom with a plush en-suite, bathrooms can potentially add between 4% – 5% to a property’s value.

With new bathrooms costing around £6,500 on average depending on your choice of fixtures and fittings, it is still a shrewd investment for many homeowners and growing families where queues for the bathroom are a daily headache. However, it’s worth bearing in mind that if you convert and existing bedroom into a bathroom it could potentially devalue your home if your three-bedroom house suddenly becomes a two-bed dwelling.

Landscape your garden

Approximate home value added: £8,000

An obvious yet often overlooked project when selling a property is making sure the garden meets buyer expectations and is up to scratch. Given 64% of UK residents state they won’t buy a home if it lacks an outdoor space, landscaping your garden is a great way to attract interest and increase your chances of a sale.

Research has found that an outdoor space adds around 12% to a London property, and while that figure is dependent on location, a garden is clearly an advantage when selling a home. Whether you hire professional landscapers to transform your garden, or simply pick up some tools and get to work yourself, sprucing up an outdoor area can make all the difference.

Remove interior walls

Approximate home value added: £5,000

Open-plan living and a properly-planned home space can have a positive impact on property value. A home with lots of smaller reception rooms separated by non load-bearing walls can be off-putting for buyers who prefer a greater sense of space when they walk through the front door.

Knocking through walls to create a large, open area can transform the flow of your home for relatively little cost. A typical builder will charge around £1,500 to remove an interior wall which is a relative pittance compared to a potential 15% increase in the property’s value that the work could create. Whether it’s a large kitchen/diner or one big living area instead of two smaller rooms, open-plan spaces can tempt buyers in and boost your chances of a sale.

Fix the little things

Approximate home value added: £10,000

From fixing cracks in the walls to mending pathways, addressing those yet significant home repairs can enhance the value of your home and ensure it’s in full working order should you decide to sell in the future.

Cracks in walls can easily knock off £9.49k from your home. The good news is that fixing these problems is quick and simple. While you may need professional help, be sure to check if the cracks are under 5mm. If they are, you can use filler to fix this yourself, and save even more money in the long run.

Add a lick of paint

Approximate home value added: £9,000

Adding a fresh lick of paint around the home is another easy yet highly effective way to add value to your property. Not only does this present your house to be clean and well looked after, but it can help if you’re planning to sell a property.

Scuffed paintwork or marked walls can be extremely off-putting to potential buyers and knock £9.25k off a property. So, make sure to schedule some DIY time and ensure your home is in tip-top condition. Use neutral colours, such as white or grey, allowing your potential buyers to picture their style.

Total approximate home value added: £100,000

These 10 simple fixes have the potential to increase your home’s worth by a staggering £100,000 and make it more saleable when you come to put it on the market, For only a relatively low investment and a small amount of effort, you too can boost the value of your home.

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