Renovation projects that improve a property go beyond supporting just the comfort and lifestyles of residents. They also support property value too, with many interior designs and structural improvements taking place specifically because homeowners wish to improve the value of, and ultimately the return on, their investment. Such projects can be major undertakings, such as the building of an extension that increases the living space of a property, while others can be seemingly small by comparison, though still adding notable value.
If you are looking to improve your property, not only raising its market value but giving it an edge that helps it to stand out among similar homes in your area, there are six great renovation projects that assure a certain positive return.
Attic Conversions
Those with empty and sizeable attic space, or that which has been used solely as a refuge for boxes, are sitting on a potential opportunity. Attic conversions have significant market appeal, opening up the potential for extra bedrooms, office space, and even rooms dedicated to entertainment or creativity.
While the cost of such a conversion is rather substantial, being able to add an entire extra room to a property, especially one that improves the structure and insulation of an entire home, is certain to net positive financial reward.
Renewables
Amid the rising energy prices, more homeowners are seeking to alleviate their reliance on the central grid and become more independent. One of the most popular ways of achieving this is with solar panels, as well as their accompanying batteries, assets that are now becoming easier and more affordable to install.
Garden Outbuildings
One of the best ways to see a return on investment requires a garden space. Those with the capacity for outbuildings, such as summer houses and log cabins, have access to a blank canvas for living space design. These simple-to-establish and low-cost external structures can be designed to host guest rooms, office spaces, and even dining areas, adding a whole new space to a home without the effort required for a full renovation.
Single-Storey Extension
By far the most taxing form of renovation, the home extension remains at the top of many wish lists, generally adding over £20,000 to a home’s value. These single-storey extensions do cost a considerable amount and can even end up ultimately breaking even in cost. However, they help a home to stand out from others in the area, adding greater living space.
Kitchen Remodel
Of all the rooms that can potentially be remodelled, it is usually the bathroom or kitchen that is most often suggested, with kitchens generally taking the crown. Kitchens are at the heart of the home being a room that is generally used for practical purposes for much of the day. As such, more efficient and modern designs reflect well on a property, especially if they look great too,
Smart Features
A relatively new renovation project is that which involves smart home features. As modern technologies become more ubiquitous, from electric vehicle charging points to smart boilers, homes are required to see their wiring and designs refitted accordingly. Doing so not only futureproofs a property but also helps it to stand out as a modern home.