Our homes represent one of our life’s biggest financial investments. Not only are they a roof over our heads, but they are also a large part of our family’s financial future and our retirement plans. Making the right home improvements to add value to your home as you climb the property ladder is a smart way to invest your money. The return on investment available from some upgrades and additions can be far greater than a savings account at a high street bank or building society.
Here are seven smart ways to add value to your home and get a great return on your investment, while looking ahead and considering what will be expected from houses in the future.
Do solar panels add value to your home?
Do solar panels add value to your home? The switch to electric vehicles is fuelling a massive rise in demand for domestic electricity. This is partially responsible for price rises, as supply struggle to keep pace with demand. Using renewable energy sources to generate electricity at home will be a smart way to save money in the future.
Check out this solar panel review of the Panasonic HIT N 245W solar panel. This kind of panel is perfect for a home installation and will help reduce energy bills while also adding value to your home and making it more desirable to future buyers.
Update Your Home Heating System
To maximize your energy savings, consider switching to a modern heating and ventilation system that does not rely on burning natural gas or using energy inefficient electrical elements to boil water. Heat pumps are incredibly energy efficient and can keep any home toasty through the winter.
There are two kinds of heat pumps, ground source and air source. Both work in a similar way, using a heat exchanger and a pump to heat your home with warmth taken from either the outside or from deep underground. Both can offer excellent energy savings and add will add value to your property.
Create Some Extra Space
If you want to get the best return on your investment there is no better way than adding some extra usable square feet to your home. Building an extension, converting a loft or basement, or even turning a garage into a living space can add a huge amount of value to your home.
This level of investment does come at a high cost, but more than pays for itself when the time comes to sell your home. This is also an opportunity to get some extra value by incorporating solar panels into an extension or a garage conversion.
Increase Your Home’s Kerb Appeal
First impressions are important. When the time comes to sell your home the first impression that house buyers will have of your home will come from photos online or in an estate agent’s office. They may even see your home when passing it on the street.
How you present your home could be crucial to making a quick sale, or even starting a bidding war between buyers. It may not add much value, but some sensible and cost-effective upgrades can make a huge difference without breaking the bank. Spruce up the front of your home with plants, paints, and lots of cleaning.
Make Your Garden Functional And Attractive
Having a garden is a blessing, but these valuable square feet of space often go under used. Though pretty to look at our gardens lack functionality, especially outside of the summer months. If you can bring some of the inside outside, adding an al-fresco dining area, for instance, you give your garden a purpose.
There are many different ways to utilize your garden space and create a new feature for your home that adds value or makes it more desirable – or both. Even something as simple as adding a raised vegetable garden can be worthwhile, and you get fresh vegetables to feed yourself and your family.
Upscale Your Kitchen, Bathroom, Or Both
These two rooms probably have the highest value per square inch. Most of this value lies in the fixtures, fittings and the finish of both rooms. Appliances in the kitchen and baths, sinks, and showers can all be costly to replace, but by upscaling what you have you can get a lot more bang for your buck.
Small changes in surfaces, like tiling, and updating the taps and sink ware can breathe new life into any bathroom. You can save money in a kitchen by replacing just the worktops or adding new doors and handles to your existing cupboards. Old kitchens can look like new with the right updates.
Making smart investments in your home can be a great way to invest in your future, and for your family’s future. Just one or two of these ideas can add a lot of value, but by combining a few together you build a huge amount of equity in your home.
When is the best time to move? Do solar panels add value to your home? See some more of my home-related posts here