According to a recent survey, us Brits have spent more than £40 billion updating our homes since 2013. That’s an astonishing average of £1,875 per household. One in ten of us have done the updates to avoid the high cost of moving.
But what is the real cost of updating and what are the top projects for adding value?
According to the National Association of Estate Agents (NAEA) Propertymark, the top ten improvements and average cost is as follows:
|
Most popular home improvements for homeowners |
Percentage of homeowners |
Average spent per improvement |
|
Redecorate |
73% |
£889 |
|
Garden landscaping |
54% |
£794 |
|
New flooring |
39% |
£1,002 |
|
New bathroom |
31% |
£2,719 |
|
New doors (internal and external) |
28% |
£906 |
|
New kitchen |
27% |
£5,016 |
|
New windows |
25% |
£2,543 |
|
Decking/patio alterations |
18% |
£1,001 |
|
Driveway/parking space |
15% |
£1,873 |
|
Building a conservatory |
11% |
£4,310 |
What can you do for your home to add value for less?
- Redecoration – giving your home a lick of paint in fresh modern colours can give your home a new lease of life and appeal to a wider audience at a relatively low cost.
- Kitchen makeover – kitchens are generally a focus for many home buyers. You can update/refresh your kitchen by painting units, replacing handles or doors as well as adding a lick of paint and window furnishings to achieve a low cost fresh look.
- Updating the bathroom - a bathroom that looks fresh and clean will always be more appealing to potential buyers. Options for freshening up your bathroom might include re-grouting, removing limescale and replacing taps. Walls can be painted a neutral shade, and ideally replace a shower curtain with a new one, or a simple glass screen.
- Tidy your garden - an attractive, tidy and well-designed garden can add value to a home. To help it feel like an extra space for entertaining and relaxing, trim borders, clear pathways and prune any overgrown trees or bushes as well as keep any lawns trimmed.
- Replace doors - first impressions count, and the front door of your home can tell potential buyers about the remainder of the property. If you cannot afford to replace the front door, make sure it looks new by giving it a power wash, or a fresh coat of paint.
- Convert the loft - although a more expensive improvement to carry out, a loft conversion "probably gives the best value for money", says NAEA Propertymark. Expanding the house upwards offers homeowners an extra bedroom for growing families, or a space for extra storage. Remember to seek planning permission first.
- Be energy efficient - fitting your home with energy efficient appliances can add value to your home by promising to knock down the cost of bills and achieve a higher energy efficiency rating with potential buyers.
- Create a driveway - In many parts of the City, the ability to park vehicles close to your front door comes at a huge premium and, therefore, if you have space to include this practical feature, you are sure to increase value.
If we can help you to make your home attractive to sell, talk to the friendly experts at Wigwam on 01482 50 51 52
