It makes perfect sense to want to create a comfortable home environment that you can enjoy with your family and friends. Not only can home improvements make your property more comfortable, but such improvements can also add significant value should you decide to sell. According to Phil Spencer, increased value often means more attention from potential buyers and a speedier sale—not to mention more cash at the end of the process.
“‘There are many ways to add value to your home. It can mean anything from simple DIY projects or insulating the loft, to coming up with a well-planned and well-executed extension.”
Phil Spencer
Presenter, and property expert
However, the property expert advises that homeowners should be savvy when it comes to planning what home improvement projects to embark upon. ‘In the complicated world of home improvements, planning where to focus your energy and how to best to spend your budget it is every bit as important as knowing what not to do,’ he says.
‘It can be reassuring to know that all the time and labour spent on certain projects should attract some profit when you decide to sell your home.’
Here are a few of Phil’s top tips on how to get the best out of your property.
A happy home
Undertaking home improvements will, first and foremost, make the experience of living in your property more enjoyable. ‘If you are planning to spend a certain sum on improving your property, you might as well do it straight away and get the benefit—and the pleasure—out of it yourself,’ says Phil.
Simple DIY improvements can make a big difference to the overall comfort of your property, as well as being handy selling points at a later date. ‘Why not sort out those niggling problems soon after you’ve moved in and sent out the change-of-address cards? Adding value as soon as you can will give you a Top Gear experience, rather than suffering the equivalent of breaking down in an unloved banger,’ says Phil.
If you’re planning on any upgrades to your home interior, Phil suggests prioritising improvements that you will get the most use out of. For families, the kitchen is the central hub of the home so having a new kitchen fitted will be a great selling point later on. A new bathroom is also a great way to add value to the home, however, for larger projects that require more than a simple spring clean and fresh lick of paint Phil stresses the importance of ensuring improvements suit your property before going full steam ahead.
Size matters
In the UK property market space is a valuable asset, so creating new space in a property is a direct way of adding value. ‘The way I look at it is this: it is cheaper to build space than to buy it, so chances are you will be quids-in. Square footage equals money—the more you have, the better,’ advises Phil.
The following are just a few ideas as to how you might be able to extend your property:
• Extension
• Conservatory
• Digging out a new basement
• Loft conversion
‘One of the major benefits of an extension is that it can allow you to add what I call “no-nonsense” space, which is practical and sensible. This could include a proper kitchen, extra bathroom, home office, utility room or garage,’ says Phil.
If you are planning on staying put, enlarging the property might enable you to live there for a few more years. For example, an extension could provide a new bedroom for a growing family or larger reception rooms for a young couple. However, adding space can also open your home up to a whole new selection of buyers when it comes to selling the property.
Smart Storage
According to Phil, most people move house because they have run out of space. Therefore, if a property has a selection of nifty storage solutions that utilise available space to its maximum potential, it’s one more thing that will make it shine to potential viewers.
‘Viewers are concentrating on the amount of room they are going to get rather than gleaming new fittings,’ says Phil. ‘Storage—much ignored due to the fact it is not as sexy as an Italian shower or snazzy new kitchen—is massively important.’
Smart builders can often devise unique ways to utilise the space offered by high ceilings and recessed windows, and even the space beneath the stairs can sometimes be converted into a small study alcove or bathroom. ‘With space at a premium in most British houses, try to get this under-stairs area to earn its keep,’ suggests Phil.
Be Eco-Friendly
The construction of green properties is an increasingly important priority for property developers. Therefore, if you are able to make any eco-friendly improvements to your home your efforts are likely to be rewarded further down the line.
‘Eco home improvements will boost your green credentials and cut down on your energy bills at the same time,’ explains Phil.
‘When people are trying to make as many savings as possible, money-saving green devices should be a serious consideration, especially if your home will be marketed to those watching their pennies—say, cash-strapped retirees or first-time buyers.’
See also:
Bathroom Renovations
