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The Best Upgrades for Raising Value

  • 5 years ago

Lots of people nowadays choose to improve rather than move as it’s cheaper and less disruptive, especially if the driver for the move was the need for more space.

Just as many UK homeowners choose to improve then move, as making an upgrade or two can increase your value and selling price. If you’re improving to move, then you need to know that your efforts will actually have a net effect on your eventual selling price, so here’s what you need to aim for.

Increase the space

If you don’t have much time or your budget isn’t quite enough for a huge internal restructuring, then just increase the amount of floor space is your best bet for a good return on investment.

An increase in the floor space available in property of just 10% – so a small extension or even a conservatory – will add an average of 5% to your selling price, according to research by Nationwide.

Convert your basement into living space for really big gains

In some areas, especially in the middle of cities where space is already at a premium, converting your basement will increase the value of your property by 30%. True, it’s a bigger job than a conservatory, but if you’re not in a huge rush to move, then it can be a real earner.

Just get planning permission

Just having planning permission for an extension or a garage will raise your asking price by anything up to 10%. This is without even looking at a spade!

Evict Harry Potter from under the stairs…

…and turn his room into a second or third bathroom. Even if there’s only room for a little corner sink and a toilet, you’ll gain 4-5% when it’s time to sell up.

Add central heating

There are still some properties on the UK market that don’t have central heating, so installing some will boost your value by around 5%. If you’re not connected to the gas mains then you may need to look at a gas-fired system, but you need to remember that a lack of central heating will deter lots of potential buyers.

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