These days, with property prices at a high and fewer homes on the market, staying put is the new moving house. And if that’s what you’ve decided to do, it makes sense to invest the cash that you’d otherwise spend on estate agent and solicitor fees, surveys and stamp duty into your home with a view to increasing its value in the future.
One thing to remember is that it’s important to know what kind of improvements to invest in if you want to see the maximum return on your money. Get it wrong and you could end up reducing the value of your home, or worse, you could have a home that is really difficult to sell. With that in mind, improvements like swimming pools and lavishly landscaped gardens may improve your quality of life, but unless your home is in the right kind of neighbourhood, they won’t increase its worth.
Alternatively, you could consider a loft conversion, anew cellar, an extension or garage, a new bathroom, or something as simple as updating your double glazing or central heating.
However, an almost guaranteed way to make your home more attractive to potential future buyers while improving your quality of life at the same time is to invest as much as you can afford in your kitchen – especially if you can only afford to give one room a makeover. Often the heart of the home, you should really consider a full professional redesign if your kitchen is especially outdated.
More affordable ways to improve your kitchen include:
- Fitting new cupboard doors and handles
- Installing tile splashbacks
- Replacing tired blinds and other furnishings
- Painting the walls
- Laying a new floor
And if your budget stretches a little further, you could even go so far as to replace your appliances to get the modern, clean and co-ordinated look that buyers really go for.