Home Improvements That Will Increase Your Property Value
If you’re thinking of selling your home soon, you may be thinking of ways that you can maximise your property’s value and ‘wow’ potential buyers. But what are house hunters really looking for in a home, and what features are they willing to fork out for?
We surveyed 2,000 UK adults on how much they would pay above the asking price for homes with popular features and additions, from conservatories to solar panels, to cinema rooms. We then researched how much these features would set you back to install on average, to find out which home improvements are worthwhile for increasing your property value.
Read on to find out the best and worst home improvements for increasing your property’s value.
THE MOST ‘WORTH IT’ HOME IMPROVEMENTS FOR INCREASING YOUR PROPERTY VALUE
1. Underfloor heating
Our survey revealed that on average, UK house hunters would pay £3,000 above the asking price for a home with underfloor heating in their bathrooms and kitchen. Choosing electric over ‘wet’ underfloor heating will give you a greater chance of making your money back.
Electric underfloor heating can be much cheaper to install compared to traditional ‘wet’ underfloor heating, as it’s less complicated and time consuming to set up and can cost as little as £800 for 10m2.
Not only is it cost effective, but electric underfloor heating is currently trending in popularity, as Google searches for ‘under floor heating’ are up 421% compared to last year.
Depending on the scale of the project you’ve got in mind, adding a garage to your property can be a great way to improve its value.
A single, attached metal garage is the most affordable option and this will set you back around £1,800 on average. Our survey found that on average, house hunters will pay £4000 more for a home with a garage, meaning a potential £3,200 profit from this home improvement.
However, more expensive options like a detached, double prefab garage with concrete could set you back as much as £11,800, so may not be as wise an investment if increasing property value is your only aim.
3. Home office
With working from home remaining a popular option for many UK workers, the average buyer would pay £3,500 above the asking price for a dedicated home office.
If your property does not currently have space for a dedicated home office, one option is to build one in your garden. A purpose-built garden office with electricity and heating could set you back as much as £8,000 or move.
But if you already have space for an office, adding fitted furniture could be a cost-effective way to increase your home’s appeal as fitted office storage and desk units can start from as little as £1,500, with the potential for a £2,000 property value boost.
4. Landscaped garden
With 18,100 people in the UK searching Google for ‘landscape gardener near me’ each month, up 22% in the last year, the value of a well-kept garden can’t be underestimated. Our survey found that on average, house hunters would add £3,000 on to their offer for a property with a landscaped garden.
The cost of landscaping can vary depending on factors such as:
- The size of your garden
- What type of project you want to undertake
- The materials and labour involved.
For example, levelling a sloped garden, or adding terracing to your garden, could set you back around £1500. Comparing this to our survey stats, you could make a neat £1500 of profit by undertaking this type of project.
Or, if you are willing to get stuck in yourself with gardening DIY tools, to create fun features like raised plant or vegetable beds, or a gravel or shingle path, this can be a cost-effective way to increase your home’s appeal and value.
THE LEAST ‘WORTH IT’ HOME IMPROVEMENTS THAT WON’T ADD VALUE TO YOUR HOME
1. Cinema room
According to our survey, 58% of Brits wouldn’t pay anything extra for a home with a cinema room.
While cinema rooms cost around £15,000 to install, most people would only pay £2,600 above the asking price for this feature – meaning you could lose around £12,000 if you were to make this home improvement for the sake of property value.
2. Swimming pool
52% of Brits wouldn’t fork out any additional cash for a swimming pool either.
In fact, a swimming pool offers the least value for money when it comes to home improvements. On average, they cost about £160,000 to install, not even including groundworks. But the average house hunter would only pay £4,000 above the asking price for a home with a pool.
3. Loft and basement conversions
While converting your loft or basement can create lots of valuable extra space, our study shows that they don’t add much value in buyers’ eyes.
Converting your basement will only tempt buyers to add £3,900 to their offer on average, while it may cost you a whopping £22,000.
House hunters may be slightly more enticed by a converted loft, offering an additional £4,900 on average. Just one in 20 homeowners (5%) would pay upward of £20,000 above the asking price. But on average, loft conversions cost £32,000.
4. New, modern kitchen
Surprisingly, investing in a newly fitted, modern kitchen may not be worthwhile if you’re looking to sell your property. A bespoke, average sized kitchen can cost around £15,000 on average, but our survey revealed that on average, house hunters would only add £4,600 onto their offer for this feature.
The Pinterest Predicts report found that retro and antique interiors are rising in popularity. For example, searches for ‘eclectic interior design vintage’ are up 850% and ‘antique room aesthetic’ are up 235%.
This new retro interior trend could be worth thinking about if you’re currently updating your home to appeal to buyers.
PREPARE YOUR HOME FOR SALE WITH DIY
Wanting to make some home improvements before you get your property on the market, but don’t have the budget for big renovations?
You might find our guide to DIY home improvements for under £10 to be helpful, with a range of DIY projects explained step-by-step.
- We gathered our search data insight using Google Keyword Planner, data accurate as of 4th January 2023.
- Our survey of 2,000 UK adults conducted October 2022
- Quotes for home improvement installation costs sourced from Household Quotes, Checkatrade, MoneySavingExpert, Victoria Plum, HomeBuilding and Clear Water Revival.