With so much property up for grabs in the London market, sellers must do everything they can to gain the competitive edge. But encouraging the buyer to choose you is only half the battle. Getting the best price possible is another matter.A number of home improvements can be carried out to add value to a home. Some are more expensive than others, but should be viewed as investments considering the value that they could add to the property. The big question is: which home improvements add the most value?
According to research by HSBC, the best way to improve a London property’s value is with a loft conversion. It is estimated that loft conversions in London can increase the value of a property by more £20,000.
Loft conversions are simpler and less disruptive than some might realise. They are completed in a matter of weeks, with minimal disruption to daily life since much of the hard work is done from the outside of the property. What’s more, specialist loft conversion companies like Simply Loft require no help from outside contractors. They tackle every aspect of the build, and they guarantee quality and affordability.
Next on the list are home extensions, such as a kitchen or bathroom extension, which increase the value of a property by more than £16,000.
It makes sense, that adding more rooms to a home would increase its value, but according to Robert Wood, Director of Simply Extend, homeowners should think about more than just the bottom line alone.
He said: “It is true that loft conversions and home extensions can increase the value of a property, they could even be the deciding factor for a buyer to choose that home in particular. But in the run up to a sale, these home improvements could prove to be so much more than money spinning exercises.
“A breathtaking kitchen extension or loft conversion could ultimately become the most enjoyable room in the house while you’re still living in it. Open plan kitchens for entertaining guests are extremely popular right now, while loft conversions can house breathtaking modern bedroom which open up onto the heavens.
“Home sales could take months or years to force through, so it is important to enjoy your home while you’re in it; and make sure that you look forward to coming home every night. Your valuation will increase, but you might find that you’re not in such a hurry to move once the job is done.”