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MAXIMISING THE VALUE OF YOUR HOME

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Maximising the space you live in can not only be a rewarding lifestyle change but can add real value to your home. So will the government’s recent plans to ease planning restrictions for a number of years to boost the building trade bring economic benefit? Or convince us to improve rather than move? You can only add so much to your property before you hit the ‘ceiling price’ making further additions financially unsound. If all the houses in your street are £200k then fitting gold doors and crystal windows will still make your house worth the same as your neighbours so don’t go over the top hoping for a massive profit!

VALUE OF YOUR HOME

 VALUE OF YOUR HOME

The best ways to improve your home financially are the most obvious areas such as kitchen, bathroom and extensions but a conservatory and drive can also be beneficial. This can add up to 25% to the value of your home. Consulting a structural engineer is a must as you will need to ensure that the existing walls can take the additional weight and consider where to add the new staircase so as not to cause obstruction.

Bathrooms are worthy of updating if you want that wow factor and even if the budget is tight, simply brightening the walls and removing any window obstruction will allow light to fill the room making if feel fresher. Replace taps, re-grout tiles and pop in one of those fancy radiators to really give the room a lift. Just a few hundred pounds spent here can potentially add a couple of thousand to your home.

Similarly, the kitchen, once refreshed can boost the value of your property considerably. Kitchens can be at the very heart of a home providing meals, party venue, a place for the kids to do their homework and somewhere you can practice your culinary skills after absorbing all the programs on the food network.

But don’t go crazy with it. If you spend £10k on a new kitchen, you may be adding around £20k to the overall value, however, adding a £30k kitchen may only yield a similar £20k return thus making a significant loss.

Stick a conservatory on your house and expect anything from a 5-15% increase in the overall value of your property so long as you do it right. Get one with good quality fixtures & fittings and call it an Orangery or summer room rather than conservatory for that added wow factor. And most folk won’t need planning permission either so what are you waiting for?

But if all that still sounds a bit excessive or you just can’t be bothered, a lick of paint and some decent furniture, smartly arranged will greatly improve the place you live. If your chipboard TV unit is lob sided or cluttered with wires and DVD’s get a new one with space for all your items, and hide the things you don’t need on show. Clean lines are what everyone wants so bin the tat and add some slap…and value.

Cheers