When it comes to home renovations, it’s important to invest in projects that improve your living experience while also increasing your property value. Whether you’re planning to sell in the near future or just want to enjoy the benefits of a well-maintained property, knowing which home renovations offer the best return on investment (ROI) is crucial. On the flip side, there are certain improvements that may not add value—or could even decrease it. In this guide, we’ll explore the home improvements that offer the best returns in the UK property market, as well as those you may want to avoid.
Focus on These Home Renovations to Increase Property Value
Kitchen Renovations
A well-designed kitchen can significantly enhance your home’s appeal, offering one of the highest ROIs. According to property experts, kitchen upgrades consistently top the list of home renovations that add the most property value. Even modest changes like replacing old countertops, cabinets, and appliances can have a big impact.
For those on a budget, you don’t need to go all out and spend your life savings. In fact, refacing cabinets, adding new hardware, and upgrading the backsplash can modernise your kitchen without a hefty price tag. The goal here is to create a functional, aesthetically pleasing space that appeals to potential buyers.
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Loft Conversions and Extensions
Adding extra space to your home is another way to boost its value, particularly in the form of loft conversions or extensions. This is especially true in urban areas like London where space comes at a premium. Converting a loft into a bedroom or home office can add substantial property value without needing to extend the physical footprint of the house.
Similarly, house extensions can create additional living space, making the home more functional. Before starting an extension, consider the current market value of your home and the average price of properties in your area. Overcapitalising—spending more on renovations than you can expect to recoup when selling—should be avoided.
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Bathroom Upgrades
A fresh, modern bathroom is highly desirable and can increase property value considerably. Even small improvements, like replacing fixtures, adding underfloor heating, or updating tiles, can make a big difference. Potential buyers are often drawn to clean, contemporary bathrooms with features that offer comfort and convenience.
Consider energy-efficient options such as low-flow toilets and showerheads, which not only appeal to eco-conscious buyers but also help reduce utility bills.
Energy-Efficient Improvements
With rising energy costs and a growing focus on sustainability, energy-efficient improvements are increasingly important in the UK property market. Upgrades such as double-glazing windows, improved insulation, and installing solar panels can not only make your home more comfortable but also add value by lowering energy costs for potential buyers.
Buyers are more likely to consider homes with good Energy Performance Certificate (EPC) ratings, as these properties promise long-term savings on energy bills. For homeowners looking to store furniture or other items during the renovation process, consider using self-storage. Space Centre Self Storage offers affordable options for household storage, keeping your possessions safe while you upgrade your home.
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The State of House Prices in the UK
House prices in the UK started going down after peaking in July 2022. By December 2023, the average home was around 284,691 pounds. This includes all types of properties like detached, semi-detached, terraced houses, and flats. Compared to other European countries, the UK still has some of the highest house prices.
What to Avoid When Renovating Your Home
Over-Personalised Design Choices
While it’s tempting to incorporate your unique style into a renovation, over-personalisation can turn off potential buyers. Brightly coloured walls, quirky layouts, or unusual fixtures might reflect your personality, but they could make it harder to sell your home later. Stick to neutral tones and timeless designs, which appeal to a broader audience.
Swimming Pools
In the UK, swimming pools tend to be more of a liability than an asset, particularly in regions where the weather doesn’t allow for year-round use. Pools can be expensive to maintain, and many buyers see them as an unnecessary burden rather than a luxury feature. Unless you have strong personal reasons for installing one, it’s best to skip this costly investment.
Expensive Landscaping
While curb appeal is important, excessive or overly elaborate landscaping rarely offers a good return on investment. A beautifully landscaped garden may look appealing, but high-maintenance greenery can be a turnoff for potential buyers who might not want the hassle. Instead, focus on creating a well-kept, low-maintenance garden that enhances the home’s exterior without requiring constant upkeep.
How to Prioritise Home Renovations for Maximum ROI
When planning home renovations, it’s essential to prioritise projects that provide a high ROI without overcapitalising. Research the current property value in your area and consider the types of homes buyers are looking for. For example, in areas where space is at a premium, loft conversions or extensions may be more valuable than an updated kitchen. Avoid spending money on improvements that won’t be appreciated by most buyers, and always consider the long-term implications of your renovations.
How Household Self Storage Can Help With Home Renovations
When it comes to home renovations, it’s important to focus on projects that add value to your property while avoiding costly upgrades that offer little return. Kitchen renovations, loft conversions, and energy-efficient improvements are all great ways to boost your home’s property value and make it more attractive to potential buyers. And to make the renovation process easier, consider using self-storage to keep your belongings safe and out of the way during construction.
For more insightful tips on property value and household storage solutions, please visit Space Centre Self Storage. We offer a range of secure, flexible storage solutions to keep your belongings safe during the home renovation or home improvement process. Contact us today and find out how they can help.