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Raise your home value with a home improvement loan

Home improvements could significantly raise the value of your property. Whether you simply wish to improve the look of your home, or need to modernise to sell, a home improvement loan can pay dividends in the long run. It is important to consider the costs, work and effort involved, yet research shows that home modification is a worthwhile way to raise the asking price of your home without breaking the bank.

Looking to raise the value of your home? Some simple and affordable improvements and add–ons can increase the asking price.

New/extra bathroom

Installing a desirable luxury bathroom will always entice potential buyers, and fitting an extra bathroom into your property can boost the value of your home by as much as 5% or £15,000 on a £300,000 property, so its well worth the hassle. A bathroom specialist charges around £150-£200 a day for 7-10 days work, and with a materials cost of around £1,500 your bathroom refit may set you back on average £3,500.

Factors that may affect the costs include the size of your bathroom and choice of fixtures and fittings, but keep in mind that what will attract buyers may mean shying away from personal taste in favour of affordable quality. If youre starting from scratch, remember to budget for additional costs to install electrics and plumbing, but you may be able to keep the labour costs down if you take on some of the DIY yourself.

 

New kitchen

As the main focal point of a home, giving your existing kitchen a stylish and modern look will do wonders to attract potential buyers - and applying for a home improvement loan will enable you to maximise the value in your home at a low cost.

A set of new units could cost between £600 and £5,000, appliances £1,500 or more, and with installation on top, a whole new kitchen could cost you upwards of £8,000. With prices very much dependent on room size, materials and appliances, plus the possibility of needing to modernise electrics or plumbing, you may wish to tackle some of the renovations yourself to save money. However as one of the key areas that potential buyers focus on when looking for a new home, renovating your kitchen is essential to provide that ready-made desirable space, and is likely to increase the value of your property by 6%, or £18,000 on a £300,000 property.

 

New conservatory

If it suits your property, the addition of a conservatory can add significant kerb appeal and attract potential buyers. Adding light to your living area, it will provide a valuable extra room in your house and generally wont need planning permission, but this can depend on size and location so do your research first. It will also create a wonderful new feature in your garden, but will take up some space so consider the design and layout carefully.

An average-sized conservatory can take between three to four weeks to build, with larger projects lasting up to six weeks, and will vary in price depending on materials used, so shop around for quotes before you decide to progress. Glass conservatories made of quality materials are generally preferred to uPVC, and well-built conservatories can cost from £4,000 to £10,000, but have been known to increase the value of your home by a notable 5%, or £15,000 on a £300,000 property.

Home improvements can offer an easy and cost-effective way to considerably boost the value of your property, and the process can be made quite straightforward with the help of a home improvement loan. You get to enjoy living in a more modern and pleasant living space, and the potential increase in value to your home is a welcome benefit if you are thinking of selling in the near future.


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