Whether you have just moved into your new home or are looking to refresh an existing property, knowing the best ways to add value to your home has always been important.
While there are a lot of things you can do to make your house stand out, it is imperative to keep your budget in mind, as not every major renovation is made equal. Some will result in a bigger increase in a property's value than others – and it's not always about how much you spend, either.
So, to help identify the money makers and dodge the money pits, SGS Engineering has come up with their topmost 'cost-effective' home improvement ideas. The company surveyed 2,000 UK adults to find out how much they would spend on a home with a particular renovation, reported the Express.
According to them, Brits should avoid a brand new kitchen, a swimming pool and a cinema room. Instead, spend their hard-earned money on things such as a landscaped garden and a home office that will definitely add appeal and value to a home.
Underfloor heating
According to their survey, on average, house hunters would pay £3,000 above the asking price for a home with underfloor heating in their bathrooms and kitchen. Dave Gordon, general manager at SGS Engineering, said: “Electric underfloor heating is the most cost-effective option if you’re looking to prepare your property for sale.
“Electric underfloor heating can be much cheaper to install compared to traditional wet underfloor heating, as it’s less complicated and less time-consuming to set up. It can cost as little as £800 for 10m²."
Landscaped garden
According to Dave, the importance of kerb appeal and a well-kept garden shouldn’t be underestimated, as prospective buyers are likely to pay £1,500 - £3,000 more on top of their offer for a property with a landscaped garden.
He explained: “Of course, the cost of landscaping varies hugely depending on the size of your garden, what type of project you want to undertake, and the materials and labour involved. For example, levelling a sloped garden, or adding terracing to your garden, could set you back around £1,500.
“However, if you are willing to get stuck in yourself with gardening and DIY, to create fun features like raised plant or vegetable beds, or a gravel or shingle path, this can be a cost-effective way to increase your home’s appeal and value.”
Home office
With working from home still a popular option for many Brits, a dedicated home office is high on homebuyers' priority lists. On average, buyers will pay around £3,500 more for a dedicated home office.
Dave explained: “Depending on the type of home office you want to add to your home, this can be a great way to add value to your home.
“If your property does not currently have space for a dedicated home office, one option is to build one in your garden.
“While a self-assembly garden room can start from as little as £2,400, a purpose-built garden office with electricity and heating could set you back as much as £10,000."
Garage
If you have sufficient space available, constructing a garage can be a budget-friendly home renovation option, depending on the materials used and the size of the garage. Opting for a single metal garage attached to your house is the most economical option and will cost you approximately £1,800, the expert said.
“Our survey found that on average, house hunters will pay £4,000 more for a home with a garage so you would more than break even. However, if you’re wanting to build a detached, double prefab garage with concrete, this could set you back as much as £11,800, leaving you in the red,” Dave cautioned.
