Infographic: 10 Great Ways to Add Value to Your Home in 2017
Are you considering selling your home in the near future? Are you wondering what you can do to add value to your home before you sell it? Maybe you’re not thinking about selling right now but may in the long run. Whatever your current situation is, if you own a home, you can make efforts to increase its value.
The value that each change adds to your home will ultimately depend on your location and land value. But, we’re sure that you will be able to add some equity to your home by making a few simple home improvements. If you’re unsure about the potential value of your home, consult an estate agent. They can also list your home for you and make the efforts necessary to sell it.
To hire a trusted, local estate agent, submit a request on Bidvine. You’ll receive custom, detailed bids from estate agents within your budget and timeline.
In this article, we’ll go through 10 ways to add value to your home before you list it. We’ll also share the costs of most services, as well as the estimated value they’ll add to your home. Read on to learn more about adding value and equity to your home!
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10 Ways to Add Value to Your Home
1. Interior and Exterior Painting
If the interior of your home just needs a quick refresh, hire a Bidvine pro for interior or exterior painting. They’ll be able to touch up any walls in your home that need some extra TLC. If you’d like to change the entire colour palette of your home, they can paint the whole home, too!
Maybe your home is currently covered in bright colours, but you’d like a more neutral palette before you list it. An interior painter can completely transform your home and make it more appealing to buyers.
If your home’s exterior is stuck in the 1950s, an exterior painter can bring it into the 21st century with paint.
In terms of cost, the cost of interior painting can range from a couple hundred pounds to thousands of pounds. The price ultimately depends on the size of your home and the number of walls the pro paints.
Median Price of Interior Painting: £400
Hourly Median Price of Interior Painting: £15
Median Price of Exterior Painting: £840
Hourly Median Price of Exterior Painting: £16
Approximate Added Value from Interior and Exterior Painting: £2,500 – £5,000
Before you paint your walls, though, you’ll want to cover up any imperfections. If you have children or pets, there may be scuffs all over your walls. So, it’s important to take care of them before painting. Do you have marks on your ceiling? A plastering pro can help with that, too.
Buyers aren’t going to be interested in your home if there are holes in the walls, so this is an especially important project. While they may not add value to your home, they will impact the final selling price of your home. For instance, a buyer will not offer top dollar for a home with scuffs and dents on the walls.
A Bidvine pro can plaster your walls, whether you’re undertaking a repair or restoration project. They can also plaster the walls of a new construction if you’re planning on building a home from scratch or adding an addition.
To hire a pro for plastering, submit a request on Bidvine!
Median Price of Plastering: £350
Hourly Median Price of Plastering: £18
Estimated Added Value from Plastering: £1000-£2500
3. Loft Conversion
One of the ways to add a large chunk of value to your home is to add a loft conversion. By investing £20,000, you could see returns of up to £50,000. That means that an investment of £20,000 could add up to £30,000 in equity to your home’s value. If you want the loft to be more luxurious, the price will increase. But, be aware that a more luxurious loft will not guarantee that it will add more value to your home.
Converting your attic space into a loft involves strengthening the flooring and adjusting the ceiling heights. Your pro may need to remove extra volume from the ceiling of your attic to raise the ceiling height. Most loft conversions have sloped roofs, due to the shape of attics. If you want the ceilings to be flat and taller overall, your pro will need to remove part of the roof of your home. Then, they can add dormers to your upper floor.
Before you undertake a loft conversion, consider if there is room for a staircase between the loft and the upper floor.
Approximate Cost of a Loft Conversion: £20,000
Estimated Added Value from a Loft Conversion: £30,000 – £50,000
Home Renovator Price Guide
4. Kitchen Extension
The kitchen is the most important room in the home, and can quickly show signs of ageing. So, if your kitchen currently looks like a home from an old-school sitcom, you may want to update it.
For a simple kitchen remodel, you can switch out your cabinets, countertop, and appliances. Changing these elements will bring a new freshness and look to your kitchen. This is a relatively inexpensive way to update your kitchen and will appeal to most buyers.
However, if you want to go one step further, consider adding an extension to your kitchen. This can be done as easily as tearing down a wall to open your kitchen up to your dining room or living area. Or, you can build an extension on your home to expand your kitchen without taking away space from other rooms.
Most experts recommend spending 4-6% of your home’s value on a kitchen renovation, as spending any more than that won’t result in equity. So, if you want to add value to your home through a kitchen extension, submit a request on Bidvine.
Bidvine tip: If you’re looking for inspiration for a new kitchen, check out our posts on kitchen designs and kitchen tiling. The kitchen is the heart of the home and will add the most value to your home.
Average Price of a Kitchen Extension: 4-6% of your home’s value
Estimated Return on a Kitchen Renovation: 6-10% of your home’s value
5. Bathroom Remodelling
This one is similar to the kitchen renovation. The bathroom is one of the most important spaces in your home, and its use is second to none. So, it makes sense that remodelling your bathroom will add value to your home.
You shouldn’t spend as much on your bathroom as you would in your kitchen, and you shouldn’t have to. But, if you notice that your neighbours are installing luxurious bathrooms, you may want to consider that. Keep an eye on homes near you that go on sale, and check out their bathrooms and fixtures. There’s a reason people say “keeping up with the Joneses,” and it’s not always a negative thing.
When you’re listing your home, your estate agent will look at comparable properties in your area and price range. If those homes have significantly nicer bathrooms than your home and are selling at a higher price than your home’s value, you may need to update your bathroom. Consider adding a shower room or floating tub to really amp up the cool factor of your bathroom.
Median Price of Bathroom Remodelling: £1322.50
Hourly Median Price of Bathroom Remodelling: £17
Estimated Return on a Bathroom Renovation: 2-4% of your home’s value
6. Gardening Services
Improving your home’s kerb appeal is crucial for selling your home at your asking price. Like with plastering, buyers won’t be interested in buying your home if it looks drab from the outside. In fact, they may not even approach your home if they don’t like the way it looks outside.
Hiring a gardener or landscape design pro on Bidvine will help you command top dollar for your home. Convince potential buyers to submit a high offer for your home by improving your kerb appeal through gardening.
Median Price of Gardening Services: £130
Hourly Median Price of Gardening Services: £20
Estimated Return on Gardening: £1-3% of your home’s value
7. Door Repair Services
Broken doors can lead to drafts and unwanted guests intruding on your home. It’s important to repair the doors of your home before you put your home on sale, as broken doors can bring the value down.
It’s especially important to repair exterior doors, as they can let cold air in. If you notice wind coming in through your doors, it may be time to hire a door repair specialist on Bidvine. They can bring your doors up to date and fix any leaks you may be experiencing. That way, potential buyers won’t slam the door on their way out of your home (pun intended).
Median Price of Door Repair: £105
Hourly Median Price of Door Repair: £20
Estimated Return on Door Repair: £2000-£4000
8. Window Repair
Even more important than door repair is window repair. If you don’t update the windows in your home, your buyer will have to on their dime. So, they’ll be less likely to offer you your dream price if and when they buy your home.
By hiring a window repair specialist, you’re ensuring that your home will be as energy-efficient as possible. New windows also look great and will impress buyers.
This goes without saying, but if any of your windows have broken glass, repair them before you list your house. That’s a surefire way to ensure you don’t get any full-price offers from buyers.
Median Price of Window Repair: £250
Hourly Median Price of Window Repair: £60
Estimated Return on Window Repair: £3000-£6000
9. Interior Design
To completely overhaul the interior of your home, hire an interior designer. They can help bring your dreams to life (whether or not you’re selling your home).
Interior designers also have the know-how to add value to your home through design. They can suggest flooring choices and wall choices that will appeal to the largest number of buyers. If you feel that your home is too specific to your tastes, it may be a good idea to hire an interior designer on Bidvine. They can help you make decisions
If you feel that your home is too specific to your tastes, it may be a good idea to hire an interior designer on Bidvine. They can help you make decisions that can lead to your home selling at or above your list price.
Median Price of Interior Design: £1,300
Hourly Median Price of Interior Design: £2,000
Estimated Return on Interior Design: 5-15% of your home’s value
Last but not least, it’s important that your home doesn’t look like your home when you’re selling it. We know that sounds strange, but it’s true. Potential buyers don’t want to have to picture themselves in your home. They want to be able to picture themselves in their home. That means neutral colours, impersonal touches and simple furnishings.
Home stagers are experts in making homes look perfect for buyers, and they have an arsenal of furnishing they can use. If they don’t have their own stock of furniture and decorations, many stagers work with rental companies and can offer you rental furniture at a reasonable price.
According to celebrity home stager Meridith Baer, staged homes sell 88% faster and for 20% more than unstaged ones. How about that for a push towards hiring a stager?
For the final step of selling your home, hire a home stager. They’ll make sure that your home looks the best it can, and will help it sell for the most it can.
Estimated Return on Home Staging: 6-15% of your home’s value
We hope you enjoyed our tips on how to add value to your home. It was quite interesting to research and eye-opening to see the true costs of different services.
Note: Service costs are representative of bids from Bidvine pros. They may not represent the actual price paid for the service.
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