Property expert Sarah Beeny reveals the five home improvements that could add up to £44k to your home’s value
TV star Sarah Beeny knows a thing or two about property, and she claims that making certain improvements to a home can add up to 20 per cent to the value of a home.
Based on the average UK property price of £220,000, that's an extra £44,000.
There are many ways to add value to a property, Sarah says, and while it’s hard to give precise figures as to how much value home improvements add, we have given rough estimations below - based on the average property price in the UK.
Here Sarah, who has fronted eight property programmes on British television and is the owner of online estate agent , gives her top tips on adding value to your property.
1. Add space - spend £30,000 and add up to £44,000 in value
Sarah says that adding an extra bedroom can add thousands to the value of your home and a loft conversion is the most simple way to do it.
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Add an en-suite up there too and you’ll create a spacious master bedroom that will almost certainly add more value than it costs to do the conversion.
A good loft conversion could add 15-20 per cent to the value of your home, says Sarah, and we estimate that they normally cost around £30,000.
On the average UK property costing £220,000, you'd be adding up to £44,000 in value to your home.
2. Modernise your kitchen - spend £2,000 and add £11,000 in value
Sarah says that a great looking kitchen really appeals to buyers and therefore adds value.
If you don’t have the budget to invest in a brand new kitchen, you can replace the worktops, doors and flooring to completely transform it.
A modern, well-functioning kitchen can add around 5 per cent to the value of your home, according to Sarah.
There are many affordable stores where you can buy new worktops and cabinets, and our research suggests you can update your kitchen for around £2,000.
This would add £11,000 to the value of the average UK home - a profit of a £9,000.
3. Neaten up outside - spend £1,500 and add £4,400 in value
"First impressions count when selling your home, so sprucing up your outside area is a must in order to get the maximum price for your home," says Sarah.
Make sure all plants and the lawn are well tended, and tidy up the exterior of your property so it looks its best – no one wants to buy a house with peeling exterior paintwork and weed-strewn paths.
We estimate that sprucing up the garden and painting the exterior walls will typically cost around £1,500, on the basis that you do the garden work yourself.
Adding a decking area where people can eat al-fresco will also add value, and plant filled window boxes will make a garden look beautiful.
It’s hard to put a value on this, but it could add around 2 per cent to the value of your property. That's £4,400 on the average home.
If your outside area doesn’t look tip-top, then you won’t achieve maximum asking price from potential buyers.
4. Get painting - spend £100 and add £4,400 in value
Fresh paint in modern colours can go a long way to giving your home a new lease of life, and don’t be afraid of straying from a neutral palette.
Sarah suggests homeowners take inspiration from interiors bloggers, TV programmes and magazines.
"First impressions count and people will pay a premium for nicely decorated homes," she said.
While it's hard to put an exact figure on how much value painting can add, it could be up to 2 per cent.
If you do all the painting yourself, you'll only need to pay for the tools and paint - which shouldn't cost more than £100.
5. Modernise your bathroom - spend £1,500 and add £6,600 in value
If your bathroom’s in a mess, replacing it with a new suite and modern tiling will add value – typically around 3 per cent (or £6,600 on the average UK home).
And if it’s not in too bad a condition, simply replacing taps and repairing and cleaning any unsightly tile work can transform your bathroom in a couple of hours.
We estimate that a new bathroom suite will cost around £1,000, including fitting, while tiling will typically cost an extra £500. Altogether, that's a cost of around £1,500.
There are plenty of smaller ways to spruce up your home on a budget, including adding fresh flowers to rooms and replacing old, tatty furnishings for new ones.
Lorraine Kelly recently spoke to The Sun Online to introduce her new homeware range and to give her exclusive tips to improve your home without breaking the bank.
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