It is an open secret that home improvements are an excellent way of adding value to your property ahead of a sale. Thus, whether you’d like a new en-suite bathroom, kitchen, an extension or you just want to give your lounge a makeover, all these will add value to your property and draw the attention of more buyers.
While some of these home improvement projects will cost you nothing, some of them may require a significant amount of money. In fact, some projects like kitchen remodeling, a parking space or garage and introduction of energy efficient measures that includes insulation, installation of a new boiler and even double glazing require significant financing.
You may use your savings to finance these projects or simply opt for financing from financial institutions as most of them have products tailored towards this cause.
Home improvement projects that are aimed at creating extra space are usually popular among property buyers. They include loft conversions, building home extensions as well as conservatories. Even then, you should not assume that your outlay is guaranteed to translate into a dramatic increase in the value of your property when you sell. Instead, you will do well to ensure that you focus on quality because those home improvements that are done badly could not only devalue your property but also reduce your chances of selling your property altogether.
In addition, in case you are unsure about the planning permissions that you require or even the building regulations that apply to your case, do not hesitate to look up for information on the government’s planning portal that clearly outlines the different areas of home improvement ant the permissions required.
Home improvements that can help cut energy bills
Several home improvement projects will increase the value of your home by simply increasing your property’s energy efficacy. They include the following:
- Adding insulation – In particular, ensuring that the loft is insulated is a great way to keep the energy costs at minimal. This is because most of the household heat is lost here. However, it does not stop here. You could also consider insulating tanks, the floor as well as tanks effectively cutting your energy bills further.
- Upgrading your boiler – Despite being widely ignored, upgrading your boiler to ensure that it is energy efficient will definitely make a noticeable difference to the amount of money you will generally spend on heating.
- Double glazing – From retaining heat to reducing noise pollution, the inclusion of energy efficient double glazing windows is excellent way of saving energy and by extension the money you spent on energy bills.
There are multiple home improvement projects that are guaranteed to draw the attention of buyers to your property. You only need to identify what will work for you, how much is involved and where you will get the money to implement before getting started.
Energy Measures that Could Increase the Value of your Home
The value of your property can be affected by its energy efficiency. There has been a constant push for energy efficiency, cutting CO2 emissions as well as a host of other climate change factors that have pushed homeowners to strive to make energy saving improvements.
Apart from cutting the annual energy bills, having an energy efficient system will sure increase the value of your home even as more and more people are drawn towards ways of cutting bills. A home with energy efficient measures will certainly attract buyers.
Evidence of the effect of energy efficiency measure on Property Values
Reports from the Department of Energy and Climate Change (DECC) show linkage between key energy efficiency improvements to your home and increased house values. When done properly, energy efficiency improvements can increase the value of your house by between 14 and 39 percent depending on the location of your property.
According to DECC, when you upgrade your home’s Energy Performance Certificate by two bands, you will add an average of more than £16,000 to the valuation with the value of homes in North East of England going up by a whooping £25,000.
It is anticipated that as climate change initiatives get more challenging and the cost of energy is rising, pressure will be on households to cut on energy use. Consequently, energy efficiency is now a significant factor in the prices of property that is expected to increase over the coming years.
Although the cost of installation of double glazed windows as well as other fuel efficiency measures may appear to be prohibitive to some home owners these improvements should be deemed as a future investment.
This is because the potential fuel savings over the years are huge when compared to the initial investment. More significantly, you can add a premium to your home by ensuring the Energy Performance Certificate places it within the first three grades of energy efficiency (A, B and C).
Your house is an investment that needs to be taken care of including improving the energy efficiency that could reap rewards in future. Thus, you will do well to consider investing in energy efficiency measures before you can put your home up for sale. You will do well to talk to experts to guide you in making the right move towards making your home energy efficient and more valuable.