The home improvements that will get you the biggest profits

Whether you’ve just moved into a fixer upper, need more space for the family or are trying to flip a property ladder, you’ll probably be asking the same question. What are the best ways to add value to your home?

10. Add a bathroom

Find room for an en suite or extra bathroom, and you’ll see a good return on your money.

9. Renovate your fireplaces

Did you know that adding a wood-burning stove could make your home so much more saleable? Choose one of the new-generation, self-lighting models for maximum wow factor.

8. Paint and decorate

Applying a fresh coat of paint or papering the walls is one of the most cost-effective ways to add value. You probably don’t need us to tell you that neutral palette will have the broadest appeal to buyers.

7. Tidy up the garden

Gardens sell homes. Fact. So unless your potential buyer is a wildlife expert, it’s unlikely they will want to inherit an overgrown jungle. Invest in some hard landscaping to make your outdoor space more manageable. Or, at the very least, trim back overgrown hedges and mow the lawn.

6. Update your central heating

A modern system will be a must for most homeowners. If your boiler is more than 15 years old, consider replacing it.

5. Embrace open-plan living

An updated kitchen alone won’t bring you nearly as much profit as creating an open-plan kitchen and dining space. It’s obviously an easier and more affordable job if you have non-load baring walls that you can knock down – which is what this profit estimate is based on.

4. Make external repairs

Potential external issues can be extremely off-putting to house hunters. Painting render and addressing anything that may need doing will put their minds at ease. Even small details like a creaking garden gate shouldn’t be overlooked.

3. Convert the loft

A popular project at the moment, and one that has the potential to make you a bundle of cash when you sell. However, every project is different, and extra structural work like adding dormer windows or raising the height of the roof will eat into any profit.

2. Take energy saving measures

This is an easy win. And you might even be eligible for a Government grant to make improvements. Typical ways to boost energy efficiency are to install double glazing, add cavity wall insulation, or fit solar panels and generate your own power.

1. Convert the garage

Sacrificing your garage for living space comes out on top when it comes to profitable home improvements. If you’ve been using yours as a dumping ground, converting it is a no-brainer.

 

Credit: www.idealhome.co.uk

Read more tips on What You Need to Know Before Investing in Real Estate

https://www.forbes.com/sites/forbesrealestatecouncil/2018/08/24/what-everyone-should-know-before-investing-in-real-estate/#58b118761957