Elite Property

Home upgrades to add value

Adding Value to Your Property: What’s Your Best Option?

Whether you’re an experienced pro or a newbie, upgrading your property (rental or home) is always a smart move. But with so many options out there, it can be tough to decide which upgrades are worth your time and money.

Should you go for fancy kitchen gear or energy-saving tweaks? Is it better to add on to the house or convert your garage into a liveable space? Don’t worry – we’ve got you covered! This newsletter dives into the best ways to boost your property’s value, I look at turning your garage into a sweet new pad or creating a garden office. Let’s get started!

Garage Conversions & Garden Offices

This is a big deal! Adding a garage conversion or a garden office can give you a return on investment (ROI) of between £12k to £15k!

Did you know that nearly half of the population now works from home? 44% to be exact. That’s according to the Office for National Statistics (ONS)! To keep your tenants happy, attract new ones or increase the value of your home, consider upgrading your property to support remote working. Trust us, it’s worth it.

With the rising number of people working from home, having a dedicated workspace has become a necessity. But don’t break the bank by opting for an expensive extension or loft conversion. Instead, consider a garage conversion or garden office which can be completed quickly and inexpensively. Plus, they also offer the added benefit of creating more living space, which is always a plus.

According to recent data, a garage conversion could cost around £13,700, but boost your house’s value by an impressive £28,751. Meanwhile, a garden office installation averages £9,500 and increases your home’s value by £21,563. Invest in your property and reap the benefits!

Energy Saving Upgrades

There are other ways to increase the value of your property besides garage conversions and garden offices, however!

Upgrading to energy-efficient appliances and adding insulation can lead to a bigger ROI than a bathroom or kitchen renovation. Check out the table below that shows the most profitable upgrades.

Plus, tenants or potential buyers who are environmentally conscious and looking to save on utilities will thank you for these upgrades. So, if you’re planning to rent or sell your property in the near future, don’t forget to consider these energy-efficient options.

Smaller Projects and Upgrades

Looking to boost the value of your property without breaking the bank? You don’t always need to embark on a huge renovation project. Small tweaks like giving your property a new lick of paint can make a big difference, gaining an average ROI of nearly £6k. And why stop there? Fit an electric vehicle charge point and you’ll appeal to eco-conscious tenants and buyers – and enjoy added convenience if you have an EV of your own.

Data Wrap Up

Adding Value to Your Property: What's Your Best Option?

Whether you have a big budget or something more modest, there are plenty of options. You could opt for large-scale projects like converting your garage or upgrading the property’s energy efficiency. Alternatively, smaller upgrades like redecorating or adding an electric vehicle charge point can make a difference too. The key is to consider what appeals to your potential tenants or buyers and what will make your property more comfortable and functional.

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