Buying a new home is exciting, and with a new house comes renewed vigour for DIY! But before you grab the tools or start contacting architects, we think you need to take a look at whether the most commonly undertaken DIY projects are actually worth the money they cost. Of course, if you have bought your forever home, you won't be thinking about adding value and will be purely focussed on expanding and improving your space for your own needs, but if you are looking to increase the selling price of your property, you need to maintain a tight grip on your project finances! Come with us now as we give you the lowdown, so you can pick and choose your home improvements more carefully!
Loft conversions are a really saleable addition to any home and open up dead space that would have simply gone to waste, but be aware that they can be an expensive endeavour. While a conversion will definitely increase the popularity of your property, it might not add as much value to the price as it will actually cost to complete, so be aware of that!
Now this is a project that WILL add value to your home! Adding a minimum of £5 to your properties selling price, a new central heating system will usually come in at around £3.5k, while also upping the efficiency and cosiness of yoru home, which potential buyers ALWAYS want!
Alongside a new kitchen, an updated bathroom is a key home improvement that a lot of us want to invest in. The good news is that a modern, fresh and hygienic bathroom will usually break even in terms of investment needed and value added.
So many people commit to an extension for their home now, but be aware that they are a HUGE undertaking. If you choose a large or complicated style, the design and construction phases will soon incur large costs, so if you want to add value, the key is to keep things as modest and simple as possible, or you could be in negative equity!
A chic garden makeover will do so much more than just tidy up the facade of your home, as this is one project that will definitely add significant value. If you commission a professional to create a new design, you might even be able to carry out the work yourself, which will make it even more of a financially savvy project!
Open-plan living is terrifically popular right now, but the cost of embracing it will differ wildly depending on whether you need to remove load-bearing or cosmetic walls. In terms of adding value to your home, there is no definitive answer, as open-plan designs are a very personal choice, so if you like them, go for it!
There was a time when the money generated by solar panels made them a fantastic investment, but that was a while ago now! They are still a great way to up your green credentials though and will offset a fantastic chunk of your utility bills, so they do still pay for themselves, technically!
A new kitchen is a must for most people, but it can be so easy to get carried away. On average, a new kitchen will add just shy of £5k to the value of your home, so as long as you spend less than that on the project, you will be quids in! Remember, you can re-use carcasses and just get beautiful new doors!
If your family is simply too large for your home, it makes sense to add a two-storey extension, which can add an extra bedroom, but given that they can cost around £20k to complete, they rarely add as much value back in. If you combined a loft conversion with an extra bedroom project, you might find that your needs and projected values align a little more favourably.
Not massively common, but very cool, basement conversions are a 'how long is a piece of string' project, in terms of costs! A simple one could come in at just £10k, but if more extensive work is needed, including excavation and waterproofing, you might find that things spiral towards £50k! That is a difficult sum to claw back in terms of house prices, so really think long and hard before you commit to a basement conversion!
For more value-added tips, take a look at this Ideabook: Increase home's value with 22 design tips.