Home improvements can be costly, but not if you count them as investments. Specific remodels and additions can make your house more liveable and increase its property value.
Whether you live in the heart of London or the suburbs of Bristol, solid wooden flooring is always the best option for any house. Vinyl and laminates can make a house look drab or cheap. They may be inexpensive, but they’ll also drag your home’s property value down. Tiles can look great, but they can be expensive, and they are more associated with hospitals and commercial establishments. Wooden floors make a house look like a home.
You can even make your house look brand new just by updating your flooring or just refinishing them. Hardwood floors are associated with posh living, giving your home an air of luxury and class. They also last a lifetime or two (barring accidents and termite) and require little to no maintenance. Wooden floors can increase your property value by 10 percent or more, depending on your location.
Solar power systems are increasingly becoming popular in the past years, with over 700,000 installations in the UK just for 2019. The UK is outpacing the rest of Europe when it comes to residential solar power, and experts predict more than 10 million homes will be powered by solar power by 2030. The biggest factor for the surge in solar installations is not a burgeoning rise in environmentalism. Rather, it is more about practicality.
Solar power systems are now more efficient and less expensive. An 8-kW system can go for around £7,000, but it should cover all of your house’s energy needs while sending enough to the grid to cover the evening’s usage. You’ll be saving £60-£80 a month for the next 35-45 years, which totals £25000-£33,000 even if your panels only last for 35 years. Solar panels boost home prices by 14-38 percent, especially on houses with more than 3 bedrooms.
An Outdoor Kitchen
Outdoor kitchens have been sweeping the US and Australia for the past 10 years, but they are still a novelty in the UK. However, most properties with outdoor kitchens sell extremely well, with sellers recouping 150-200 percent of the kitchen’s cost. An outdoor kitchen will create more space in your home and allow you to cook to your contentment away from the kids.
It also makes receiving guests or organizing get-togethers easier. A proper outdoor kitchen should have proper decking and should include an oven or stove — aside from the usual grill. An outdoor kitchen effectively expands your home’s perceived area, making it appear bigger and more elegant.
A Proper Bathroom or an Extra One
The state of a house’s bathroom can be what makes or breaks the deal. Money spent on bathrooms can be risky, as most homeowners tend to go overboard or inject too much of their own tastes into the remodeling. The best modifications are always the simple ones: replacing the bath, getting better shower heads, a modern toilet, although splurging on heated floors can be a big plus.
An elegant but tasteful bathroom can increase your property value by 5-10 percent. If your house has enough space, consider adding an extra bathroom. Not only will it make your life easier as your family won’t be lining up on a single bathroom, but it can also raise your home’s property value by another 5-10 percent.
Making your house more liveable can also make it more valuable. Whether you plan on selling in the next few months or the next 5 years — opt for remodels that produce the most returns.