Find out more about renovations to increase the value of your home
There are a number of ways to enhance the value of your home, from simple processes such as adding a lick of paint here and there to commissioning a major extension project. The issue for many home-owners, however, is knowing whether the required investment in terms of money, time and effort is actually worth it.
Many people will tell you that doing this or doing that will make your house or flat more valuable, but can you be sure that the returns you hope for will materialise? Thanks to Sainsbury’s Bank, there’s a handy online tool that will help you understand more about renovations and improvements for your home.
It’s easy to use. You simply enter the value of your home and the budget that you have available, then click on the various dots on the picture of the home. Each click will tell you how much you’re likely to spend and how it will affect the value of the property when you come to sell it.
Valuable information for any home owner
Needless to say, the figures included are general and won’t necessarily pertain specifically to your home, but they still offer a fascinating insight into how you could add value to your property with just one single project. If you decide on a particular course of action, it’s worth asking a few questions of our team about property values and how they can alter.
Returns on your investment differ from project to project, of course, but it was interesting to see that perhaps the largest profits could be made by converting your garage or loft into another room. In effect, you’ll be expanding your living area, and for that potential buyers will be happy to pay the extra cost.
Extending a property has always been a good way to increase profitability, but it’s worth noting of course that the initial outlay for many extension projects is significant. Renovating individual rooms such as kitchens and bathrooms doesn’t cost a fortune, but it returns a sizable profit for the vendor at some point in the future.
The online tool can be found at https://www.sainsburysbank.co.uk/money-matters/home-renovations-calculator, so if you’re thinking of any home improvements feel free to take a look. It could just inspire you to do something that will add value to your home in the near future.
James Neave the Estate Agents are based in Surrey and we offer an extensive selection of flats and houses for sale in Walton-on-Thames and the surrounding area. Call 01932 221 331 to find out more about property values, home renovations and more.