Top Ten Value-Adding Home Improvements

Survey Reveals Top Ten Value-Adding Home Improvements. 
Loft conversions, new kitchens or bathrooms, real wood flooring and smart home wiring have been revealed amongst the top 10 most value-adding property features to invest in right now, according to new research.

A recent study, conducted by Flooring Superstore, analysed live Rightmove listings and collaborated with top property experts to unveil which home improvements have the potential to add the most value to a property.

The Rightmove research suggested that real wood floors were most likely to have a positive impact on property prices in London, Liverpool, Birmingham, Bristol and Edinburgh. The investigation also highlighted that underfloor heating can increase the overall value of a home too, with this energy efficient form of heating most likely to boost property prices in London, Edinburgh, Sheffield, Glasgow, and Birmingham.

According to industry experts, homeowners should look to invest in improvements that add to the overall footprint of their property. Creating extensions or home improvements that modernise, improve the general condition of, or add interest to – such as creating a dedicated work from home space, installing underfloor heating, or restoring original features came out on top.

The top 10 value-adding home improvements were revealed as:

1. Loft conversions / extensions
2. New kitchen
3. Open plan living
4. Restoring original features
5. New bathroom
6. Designated space
7. New windows and doors
8. Approved planning permission
9. Smart home wiring
10. Real wood floors

Creating a loft conversion or extension was the most likely improvement that significantly adds value. New kitchen, open plan living, restoring original features, new bathroom, designated working from home space, new windows and doors, approved planning permission, smart home wiring, real wood floors and underfloor heating were other aspects that were likely to add value.

While having a bath within the main bathroom – not just a shower – or having a working fireplace had minimal impact on the property’s value, these installations could sway a sale if in line with the personal preferences of the prospective buyers.

Installing solar panels are a potential risk due to the respective tariffs, the fact that some see them as an eye sore, and the repair/maintenance costs. If the solar panels are leased rather than owned outright, it can make a property unmortgage-able. Similarly, outstanding planning permission could potentially damage the value of a property, as it implies that there’s a problem with it.

Source: DIY News