Making big changes to the inside of your home can mean it becomes your ideal space. Given that statistics indicate people change houses at least once a decade, though, it may not stay your ideal space for long. If you’ve made those big changes, then, are you simply out of luck when it comes to recouping your investment? Absolutely not. At Doorsteps, we’ve seen some renovations mean a serious increase in the selling price of a home. Wondering what pays off the most? Take a look at the top three.
- The Kitchen
- A Conservatory
- A Loft
Believe it or not, the kitchen has become king in many spaces. Thanks to a growing foodie culture around the world, people want spacious, beautiful kitchens that can serve as much as a gathering space as they do a food prep space. If you have the money to spend, think stainless steel appliances, stone countertops, and wood flooring. Upgrades like these can mean up to a 50% return on your investment.
You’ll have to give up a little garden space to add this to your home, but they typically come with a full return on the investment. Because a conservatory is typically small, you don’t even need planning permission to add one. You can also forget about the structure and fire safety regulations because so much of it will be glazed glass. What’s more is that it’s separated from your home with an external door, so that means an additional break on regulations. While you see low costs, buyers will see a room bathed in sunlight without having to deal with poor weather conditions.
The Nationwide Building Society has found that lofts increase property values by up to 20%, making them an amazing investment. Adding a loft may mean extra bedroom space or even home office space that your current space sorely lacks. Potential buyers will find many imaginative uses for the loft you added, and that can only mean an increased base price.
Make the most of your home now by choose renovations that will pay off when it is time to sell!