Rewarding Renovations

Homeowners consider renovations for many reasons. Whether looking to add more space to a home due to growing family needs, or looking to maximise the selling price of a property before selling, adding value to a property through a renovation can be enormously profitable.

Researching any renovation project properly is extremely important, if this isn’t done, a renovation can turn out to be a costly and stressful process. Before we share with you some renovation ideas we would recommend that if you are looking to renovate, you may consider researching what is popular with potential buyers in your area, and where property values for your property and properties in the surrounding area lie. Some of this can be done online but we suggest taking advice; a good starting point would be speaking with your local estate agent.

If done right investing in the right home improvements can add tens of thousands to the value of your home, at a fraction of the cost. It can be a very rewarding investment.

 

Extension

Extending your property is an ambitious renovation project and at the more costly end of the scale. Any significant building work will cause disruption but on the other hand, extra living space can be a real advantage when trying to add value to your property and you may well reap the rewards. Remember that you will need planning permission and survey work completed before work can begin or you risk being ordered to tear your extension down.

 

Loft conversion

Compared to an extension, a loft conversion is an easier way to get an extra bedroom and bathroom. Many homes have extra unused space in the attic which can be converted into another room adding a lot of extra living space, in a short space of time.

 

Kitchen improvements

Nowadays people see the kitchen as the heart of the home, we don’t just cook in our kitchens any more, we do homework, we watch television, hold dinner parties and so much more. So if you have to pick one place to invest your money this is often considered the best. Create a real asset by modernising the kitchen or perhaps consider making it more open-plan which could give your home the edge when it comes to selling, and maybe help you to achieve your target asking price.

 

Adding a bathroom/ shower room

An extra bathroom can be a good selling point as the number of en-suites and bath/shower rooms is key for most modern buyers, particularly if you add an en-suite to the master bedroom. Extra bathrooms can be added by renovating existing space, or by extending. Ideally, there should be WC facilities on every floor that has bedrooms, so if you are converting the attic, try to include at least a WC, if not a full bathroom.

 

Recreate your garden

This is particularly popular at the moment (especially when spring is here.) A well designed garden can add real value to your property. Consider putting in colourful, eye-catching plants and/or flowers, as these will make your garden look more attractive and well looked after. If you own a relatively large garden, decking is becoming more and more popular amongst home buyers. Remember, open space is a big factor that potential buyers consider so if your garden is on the smaller side, decking may not be ideal as it takes up too much space.

 

Remember: You will need to make your home insurer aware if you’re doing any building works, or if you make any significant changes to your property.

 

Please contact of the team at McEwan Fraser Legal if you would like to find out more.

 

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