Spending Money to Increase Property Value
Your house isn't quite right; you've thought this for a while. You've got some money floating around after the summer and Christmas is at the back of the mind so you have earmarked it for carrying out improvements to the home. You can improve your property to suit your needs. It's your home, you have no plans to sell for a while and you want to make your house work for you, or, you could improve your home with a view to increasing its value. Spending money to make money is one of the most rewarding pastimes there is. Maximising the return is the key point and it is not a mystical, magical formula. There are some very basic guides to stick to when improving your home for capital appreciation and also some very important things to steer clear of.
The major improvements that will add value to your property are an extra bedroom, or office, a downstairs WC, off road parking or a garage. It is imperative though that these additions/changes are not to the detriment of your existing house or garden.
I have taken clients on viewings over the years where the house just doesn't work. When it was originally built it was fine, over the years though the owner has added things here, changed things there and what is left was a jumbled up mess. When a buyer views the house they would rather put their own stamp on the property and would rather buy another house in the area that hasn't had the additions. There are very few people who keep their cars in the garage any more, apart from when it is time to renew the insurance policy. Garages are now full of bikes, lawnmowers, a workbench for bank holidays and the pile of junk for the next car boot sale. If, however, yours is a family house then a garage should not dominate your garden. A garage works well with a house but losing use of your garden could actually depreciate your property instead of adding value.
The obvious improvement to a property is to add a bedroom and again a good 5 bedroom property is valued higher than a good 4 bedroom property. However, a poorly designed 5 bedroom is the same value as a 4 bedroom house. If you are going to create a new bedroom, make sure that it is to the same standard as your others and not a box room. If you have are creating an office make sure that it doesn't look like a bedroom with a desk in it.
Adding a downstairs WC adds convenience to a house and don't believe the old wives tales about two doors between a toilet and a kitchen. The rules have changed to offer discretion where there is good ventilation, so a window in close proximity offers flexibility. Again though, make it useful and don't lose other amenities to offer this value added addition.
Remember, the more appealing your home is to a wide audience the more it will be worth. The bulk of houses are built to a standard specification, the owners put their stamp on them and turn houses into a home. With careful alterations and additions to a house a buyer will find your home to be their perfect property and want to buy it from you and therefore increase its value.
Happy Home Improving.
