LIGHTING & ELECTRICALS CONTRACTS & LEGALITIES
The best ways to add value to your home
L
Improving the value of your home is a great way to boost your equity and potentially increase your return on investment when it comes time to sell. However, many homeowners are unsure of the best way to go about it.
isa Parker, a Mortgage Expert at L&C Mortgages, has provided some expert tips on how to increase the value of your home if you are thinking of remortgaging to a new deal or perhaps selling up and buying elsewhere.
Improve your home’s energy efficiency
Improving your home’s energy efficiency not only saves you money on utility bills but it can also increase your home’s value. If you have the capital, installing energy-efficient windows, insulation and appliances is a surefire way to make your home eco friendlier and more attractive to prospective buyers. Consider adding solar panels, a smart thermostat or a tankless water heater to make your home more energy efficient. While these upgrades I-B U I L D/ J U LY/23
aren’t cheap, they can pay off in the long run in terms of energy savings and increased resale value.
mailbox to make your home more visually appealing.
Boost your home’s kerb appeal
If you have the space and budget, adding an extension can be a great way to increase the value of your home. The ONS found that, on average, each square meter of property space in the UK is worth £2907, which means adding even a small extension can add significant value to your property. According to Checkatrade, the average price for a 20m2 extension is £44,000, meaning that the added space from an extension could increase the value of your home by £58,000. Keep in mind that the cost of an extension will depend on various factors, including its size, the materials used and any necessary permits or permissions. However, if done correctly, an extension
First impressions matter, and the exterior of your home is the first thing potential buyers are likely to see. Improving your home’s kerb appeal can increase its value by as much as 10%, according to a study by the Royal Institution of Chartered Surveyors (RICS). Consider adding a fresh coat of paint to windows, doors or other painted surfaces where possible, planting some flowers or fresh grass seed to revitalise a front or back garden and ensure your exterior is well maintained. Also, consider including outdoor lighting, updating your front door by replacing rusting or dated names or numbers and adding a new
14
Add an extension