Before you start planning an elaborate and costly renovations North Wales project, you should look around at some local estate agents to work out how much your home will fetch on the current housing market. It is important not to be taken in by any potential asking price, what matters in this case are the recent sold prices of houses nearby.
You could also ask an estate agent for a free valuation of your house prior to any renovation work taking place – this could be the perfect time to ask the professionals about what the potential value would be if the house had an extra bedroom, bathroom or a new kitchen. Here are some things to consider before planning a home renovation project.
Where to Improve?
Have a look around your home with a critical eye, identify areas that would benefit the most from improvement and establish a budget – how much you’re actually willing to spend on home improvements. This could be £1,000 to spruce up the garden and brighten up the exterior, to upwards of £20,000 for adding an extension. Have a look into the typical costs associated with different projects – it’s always best to get quotes from a few different tradesmen before making any firm decisions.
Who Will Buy?
Consider your surroundings, for example; making a two-bed house into a three-or four-bed one, in the catchment area of a fantastically rated school will do much more than taking on similar improvements in an area with a local school that isn’t performing well.
You should also think about the types of people who might buy in your neighbourhood, what they’re likely to in the market for, and what might put them off your property. For example, in London, expensive basement conversions are ideal for adding living space, especially when the garden might be small. On the other hand, if your garden’s big enough, it would make better financial sense to add more living space by extending outwards.
If your area is popular with families, an extra bedroom or a playroom could be a good investment, whereas a gym or garden pond might be a huge no. The same could be said for replacing a bath with just a shower – families with young children often prefer baths.
Look at your home with a critical eye, is there anything ‘missing’ that other properties in the nearby area already have?
More For Your Money
It’s important to maximise the impact of every investment you make in your home – individual improvements such as installing a high-spec bathroom might increase the value of your home and make it more attractive to prospective buyers.
- Extensions
Don’t just think about space, think about light as well. Don’t cheap out on the size of windows; add doors which open directly into the garden if possible, and rooflights to maximise natural light. Plan your lighting to counteract dark corners instead of having to add in an army of lamps later on.
- Doors & Windows
It is always the best choice to purchase the best U-value rating that you can afford, and choose easy-to-maintain styles.
- Kitchens
Consider how people cook in this modern-age, with tablets, phones or laptops to show us recipes, TV’s to watch, music to listen to – building in plenty of electrical and USB sockets will never lead you far wrong.
- Flooring
Hardwood flooring has a timeless elegance and appeal. If you have room in your budget, this could be worth the extra investment over alternatives.
Modern Living Space
Having an open-plan kitchen/dining/living area is near the top of many wish-lists. Make the most of the space that you have, if you’re building on a new kitchen, think about what else could be fitted into the extra space. Adding in a utility room wouldn’t be a massive financial outlay in the grand scheme of things, but it could add some more value!