Which home renovations add the most value?

Which home renovations add the most value?

Many of us try to add value to our properties but it’s true that most of us don’t really know which parts of the house to focus on in order to get the best return should we want to sell.

Landlords face the same dilemma. To add value to their portfolio, it’s not always about adding new properties. In fact, many landlords can’t afford to do this so they need to look at their existing properties to see how their value can be increased.

New research by HSBC has examined this in some detail and here are some of their key findings:

Conservatories – adding a conservatory can add anywhere between 6% and 13% to the value of the property.

Double Glazing – this is judged more by the savings they can make on your fuel bills. A-rated windows could save £175 per year on a detached house, £105 per year on a mod-terrace property and £65 on a flat.

Bathrooms – a new bathroom renovation could add 4 to 6% on your home’s value

Loft Conversions – these can add 10 to 15% to the value of the property

Solar Panels – these could potentially add somewhere between £2K and £5K to your property

Extension – an extension can add around 15-20% to your property’s value

Smart Tech – kitting your home out with all the latest smart tech to operate lights, heating, music etc can add an average of £3K to £10K depending on the level of smart tech throughout the property.

Property renovations are just like investments. Get them right and your property’s resale value and rental cost could rise and more than cover the cost that you have put in.