After such an uncertain couple of years, when considering any home improvement, it’s almost a minefield on where to begin. But now, as the economy recovers, so too is the housing market. Residential prices in London rose 6% across the year, according to Knight Frank. We’re gradually approaching a good time to sell. With that, thousands are people are wondering how best to renovate their homes.
Obviously, there are some crucial factors to consider such as your budget and whether it’s the right option for you. You may have to ask yourself how much longer you’re planning on living at your current property. If it’s almost time to move on, the most fundamental question on most people’s mind is: what will provide the most value to the property?
We’ll be covering all the most valuable home improvements in 2021, including:
- Loft conversions
- Kitchen and bathroom improvements
- Front door replacement
- Bifold doors
- Window replacement
- Extensions
- Conservatories
- Solar panels
- Roof repair
- Kerb appeal enhancements
- Garden maintenance
- Carpet replacement
Do loft conversions add value to your home?
First and foremost, let’s begin with the upgrade that most people consider to be the king of the home improvement category – the loft conversion. Our number one pick and recommendation for anyone with the budget, or perhaps someone who hasn’t delved into any home improvement projects before. On average, it adds 13% to the value of a standard 3-bedroom house.
Giving you a whole new bedroom, or even a personal space like a home office, the average return on investment (ROI) is 70%! This is your safest bet if you have the cash flow because you’re retaining most of your initial investment. Although, be aware that this isn’t an option if you have a strict budget, as loft conversions on average cost £40,000 depending on size.
Compare insulation costs here.
Improve your kitchen and/or bathroom
During the height of the COVID lockdowns, the National Office of Statistics reported that UK homes were spending on average 24.5 GBP a week on home improvements. Of those, the most common areas were the kitchen and bathroom. These two areas of your home are likely to have a high ROI. The reason is that that these two rooms are the most frequently used and often most important rooms in the home.
When it comes to viewing day, having an impressive kitchen and/or bathroom can make a massive difference to your prospective purchasers’ perception of your property. One point worth bearing in mind, however, is if you’re renovating with the sole intention of selling your home, you’ll want to keep things relatively simple. Too many personal touches could work against you. Remember, you are moving on, so make sure your changes are palatable to the majority!
Replacing your front door
Despite plastic doors having their lowest selling year since 2012 (according to the National Office of Statistics), they still had a sale value of 1.99 billion pounds. Without doubt, they’re one of the most important features of any property. As such, you don’t want it to look tired or out of sync with the architecture of your home. Old exterior doors can also be a huge source of energy loss. By investing in a new front door, you’re improving the look of your house and also improving energy efficiency without breaking the bank. Most homeowners who invest in a modern composite door can expect to make their money back and then some just by replacing their front door.
How much value do bifold doors add?
Moving on to our next pick – bifold doors! Bifold doors are fantastic because they can span many metres across a wall in either direction or even in corners to create open plan environments. They also tend to make properties sell easier, as they create a much more fluid environment, as well as making it easier on the eye for potential buyers.
With that said because they are made from numerous amounts of large panes of glass which allow plenty of natural light into your room they do come at a cost and can be anywhere in the region between £1,500 – £6,000, again dependent on size and material as they come in uPVC for cheaper options or aluminium as a more premium option. However, because they are so sought after, you can see an addition of 5-10% on your property’s value.
Updating your windows
Getting replacement windows for your home can help you save money on energy bills as well as significantly increase saleability. With modern designs, you can add a beautiful window that brightens up your living space and makes your home warmer, more comfortable, and more appealing to potential buyers.
According to Sellup, 82% of 18 to 24-year-olds would consider a home ‘more desirable’ if it has double glazing, as would 98% of 65+ respondents. If your windows are performing poorly, buyers will decrease their offer in order to compensate for the money they’ll have to spend to replace them. For more information, read our guide on why you should be replacing your windows here.
Do extensions add value?
Adding an extension means creating more space in your home, which in most cases, increases value. Extensions can take many forms; maybe you simply want to extend a single room in your home, or you could even go a step further and add more rooms to your property.
Whichever you decide upon, it’s important to know what the rules are with regard to planning permission. The government recently changed the rules surrounding extensions, making it easier to add bigger extensions than it was previously. That being said, you obviously must still stay within their guidelines if you want to avoid hassle further down the line.
A decent extension can potentially bring you a return on investment somewhere in the region of 71%, but remember the initial outlay will be relatively high.
How much value do conservatories add to your home?
Adding a conservatory can bring an astonishing return on investment of 108%! Conservatories are attractive because of the way they connect the home to the garden and the extra space they bring. They don’t have to be reserved solely as a summer space either, contrary to popular belief. With advancing technology such as the best thermally efficient glazing, electric underfloor heating and modern window material options like aluminium and uPVC, conservatories can provide you with a year-round additional space all the family can enjoy.
Conservatories help your property stand out in the housing market, especially in streets where all the houses are very similar. If you are considering making improvements to your home, a conservatory is well worth considering.
Compare conservatory prices here.
How much value do solar panels add to my home?
One upgrade we feel worth is mentioning in this day and age is solar panels. There is often a debate as to whether these provide an increase in property value. However, with the prices of solar panels being at an all-time low, this is the ideal time to get involved. Solar panels involve very little upkeep and maintenance due to the fact there are no moving parts, so there’s no need to worry about that either.
Where it will mainly increase your home’s value is within your properties Energy Performance Certificate (EPC), boosting it by up to two grades ranging from A – G. In addition to this, solar panels obviously reduce your energy output, and with energy bills increasing by as much as 37% during lockdown, this an effective way to cut those bills down.
The average 3.5kWh solar storage system will cost around £6,000 as an initial setup cost and in earlier years has increased property values by 2-3%. But with the savings factored in as well, and this contributing to a greener future, it’s a considerably growing commodity especially in urban areas and amongst newer and younger first-time buyers.
One last note worth mentioning is there is also the option to collect energy and sell it back to the national grid. With plenty of bonuses available with this upgrade, it’s worth considering. Bear in mind this is suited to long term property owners, as it would take at least five years to see your initial investment returned and any years past that for a profit.
Compare solar panel prices here.
Replacing and repairing your roofing
Repairing or replacing a roof is not going to be a job any buyer relishes, so removing the hassle is often a good idea. Not only will you be giving them one less job to do once they move in, but you’ll also take away a bargaining tool from their arsenal. Buyers will likely try and push for a reduction in the asking price so they can cover the cost of the work required. However, if you take the proactive approach, you can actually add value to your home instead.
Obviously, the best course of action is to keep your existing roof well-maintained. Have it checked every once in a while and replace any missing tiles as soon as possible. That way you’ll save yourself a hefty bill when the time comes to put your house on the market. If you do have to fork out for an entirely new roof, you can expect to see a return on investment of around 63%.
How much value does kerb appeal add?
The last point worth mentioning is to keep on top of your home’s kerb appeal. At some point, you’ll need to sell up and people are often easily put off if they see any structural defects such as loose tiles or damaged windows and doors. You don’t want potential buyers to start wondering if there are any further issues hidden away, as this can lead to you being driven down on your asking price, hindering your profits further. In the US, 78% of estate agents recommended improving kerb appeal in order to help sell a home in 2021. That figure is bound to translate across to UK buying habits.
You also want to make sure you’re not waiting around for months upon end in which house prices could fluctuate, so make your house appealing as possible. These general maintenance issues are often quite cheap in the grand scheme of things to fix and should be made aware of! Notable examples include repairing windows and doors, updating guttering or even repainting the exterior. All of these are great ways to spruce up your property for first glances.
Spruce up your garden
Well-kept front gardens will add to your property’s kerb appeal, while a beautiful rear garden can really give a home the ‘wow’ factor. A well-maintained garden also looks attractive to a buyer as the hard work has already been done. People looking to move will generally want to avoid taking on a property that requires a great deal of work. Consider replacing paving slabs, adding some flowers, relaying your lawn, or replacing those worn fence panels. Doing some odd jobs here and there around the garden could bring in as much as an 88% return on investment.
Last year, the British Garden Census found that quality outdoor entertaining areas helped to add, on average, 4,386 pounds onto the value of British homes. 4,227 pounds for decked patio, and 4,083 for paved patio.
Replace old carpets
Old, worn-out carpets can really bring the feel of a home down, so changing them makes perfect sense. If your carpets are relatively new and don’t need replacing, consider getting them professionally cleaned instead. Again, this outlay will bring a positive return on investment when the time comes to sell your home.
Not all upgrades have to add value!
Hopefully, this clears up any confusion and helps you identify a way forward to increase your property value. Do bear in mind however that no matter how much you upgrade your home inevitably every house has what is known as a ‘ceiling price’. This is essentially a threshold for the value of properties in your postcode or road. We wouldn’t want all your hard efforts to go unrewarded but not all upgrades have to be for monetary gain.
Home improvement trends for 2022
We’ve covered everything to do with 2021, but what will the future hold? As we recover from the pandemic, we predict that countless people will be looking to change their living situations. As such, home improvements will become more important than ever as we try and get our homes into sellable shape. Furthermore, with the continuance of remote working, people’s motivation to renovate their interiors will show little sign of slowing down. Here’s some things we expect to see more of in 2022:
- Continued investment in home improvements and extensions
- More enhanced home offices and studies
- Improvements to domestic social spaces, like patios, kitchens and even things like home cinemas
- Increase of home gym spaces
- More, better quality DIY, after everyone has had so much practice during the lockdowns
Whatever your home improvement plans for 2022, we hope you compare the companies in your area with us!
Compare Companies and improve your home today
Home improvements are a great way to add value to a home, but it’s important to bear in mind that these returns on investments are not set in stone. Your location, the quality of your street, and the natural ceiling price of your property should all be taken into consideration too.
Quality glazing, windows, doors and conservatories all play their part in keeping your home looking as good as can whilst increasing saleability. Save time and use Compare Companies to compare the latest local window and door companies prices in your area, the latest conservatory prices as well as conservatory roof replacement prices all under one roof.