During the COVID-19 pandemic many people have begun spending more time at home than ever before. This has led to many deciding to make home improvements for the first time with home remodelling searches more than doubling in the last year.
Home improvements can be tricky and can often end up costing more money that you originally planned. Research has shown that those in more densely populated and metropolitan areas spent an average of £13,000 on a round of home improvements during Covid. With a few tips and tricks you will be able to maximise the potential value of your property when making these changes.
This article will show you how you can maximise the value of your property when making your home improvements in 2021.
An important thing to take into consideration when making your home improvements are your next potential buyers. Understanding the type of people that are likely to purchase your home from you will help increase the value of your property.
For example, if you are living in a metropolitan neighbourhood with many families, it might be pertinent to add extra bedrooms when improving your house. This, in the long-term, could lead to your house becoming more lucrative for families than others on the market.
Understanding what is valuable in your area can help maximise your value; if the neighbourhood does not have many places to park, paving over your front garden to create an extra parking space can help your house standout from others around you.
Your Office Space
During the COVID-19 pandemic we have seen a record amount of people working from home. However, many people did not have the correct office space, to the point where 38% of people wanted to upgrade their home office space at the end of 2020.
With home offices becoming more important, using your money to create a well-designed and productive office space could maximise the value of your home improvement. With 43% of working people planning to work from home after the pandemic, creating a home office space to be proud of could be vital to your improvements.
Creating More Space
Having a bigger house is a great way to maximise the value of your property and there are ways you can do it through home improvements. With 25% of UK residents wanting to move to a larger property, creating a conservatory or more garden space can help maximise the potential value of your home by adding square feet succinctly.
Do Not Overspend
Overspending is one of the most common mistakes made by those who are doing home improvements. If the average house price in your area is £500,000, then you are overspending when you splash £100,000 on a new kitchen.
Understanding the limits of your house and your budget can help you to maximise your potential in more areas rather than wasting your money on areas that do not increase the value of your property. If you are considering home improvement loans, you can find a number of financial options here.
Recent research has shown that 57% of UK residents want their homes to become more eco-friendly. With the property market turning towards more eco-friendly houses, adding solar panels to your house or roof insulation can be a great way to maximise value when making your home improvements.