1. Be Objective
This might sound obvious, but you will only be able to convert your investment into a return if you are able to sell your home at a good price. This means ensuring the improvements you make have a broad appeal. Optics Bars or ‘roll top’ baths in the middle of a bedroom will only ever appeal to a small section of the market, especially if they are at the expense of valuable living space.
2. Extend/Convert
The two main factors that determine a property’s price are size and location. The latter isn’t something you can change but adding space can be an effective way to add value. However, spending £100,000 rearranging the layout of your property doesn’t mean you will add £100,000 in value. Why? Because you haven’t added a single extra square metre of floor space.
Loft conversions or basement conversions are one of the most cost effective ways to add value to your property and can, on average, increase the price by 20 to 40 per cent, with a rear extension adding slightly less. So if you can, build up or build out.
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