Game the Housing Market With a High-value Property
Housing-Market / Home Improvements Apr 28, 2016 - 12:28 PM GMTBy: Submissions
Endri Hasanaj writes:
The housing market is unpredictable at the best of times, but there’s always one sure-fire way to create the perfect house – make improvements that are both practical and aesthetically pleasing.
This isn’t as easy as it sounds. Depending on the area you live in, the value of your home will hit a glass ceiling no matter how many improvements you make to it. But if you can find a happy median between potential value increases and the projected cost of additions, you’ll break a profit.
With that in mind, we’ve come up with a few extensions and additions you can make to your house if you want to maximise profits. Take a look and see the market value of your property skyrocket.
Fire safety
When someone comes to view your property, they should feel safe as, well, houses. They shouldn’t feel like a burglar could burst through the door at any second, or (especially) that a fire is going to break out on their premises.
While installing a burglar alarm is plain common sense, it won’t add any extra value to your property. However, the appropriate fire safety precautions can boost the value of your asset.
If you want to reinforce the idea of a flameproof house, invest in blast protection for your walls. This might sound like you’re building Fort Knox, but these panels, generally placed between the plasterboard and the brick work, are safe and unimposing.
For a little extra, this renovation will add thousands of pounds to your property. Marry it with fire extinguishers and sprinklers to maximise the potential for profit.
Full conversions
Without a conversion, your attic is nothing more than wasted space. In fact, it’s usually a lot worse than that – attics are downright creepy when left untouched.
This valueless space is overly musty, laden with quietly rotting cardboard boxes and spider webs, and covered in more dust than the inside of a hoover bag. It’s more like the opening to an 80s’ horror movie than a room in a happy home.
But shell out a few thousand pounds for a loft conversion and your property will jump in price by upwards of £10,000.
To ensure maximum value for your property, make your loft a part of your home in both look and feel. Continue the themes of your interior design in your newly converted room and make sure it feels like a viable living space.
Garden views
Although your garden itself is unlikely to boost the value of a property, creating an extension that will give you a great view of your garden can add thousands of pounds to your property’s value.
You could invest in a conservatory or an orangery, whichever one suits the design of your building the best.
Before you start building, however, you’ll have to check for planning permission from your local council. Most local authorities don’t require any formal planning permission for small extensions, but it’s always best to check. After all, no one wants to wade through mounds of red tape after they’ve built a brand-new conservatory.
There are plenty more ways to boost your property’s value. If you’ve got anymore suggestions, let us know.
By Endri Hasanaj
© 2016 Endri Hasanaj - All Rights Reserved
Disclaimer: The above is a matter of opinion provided for general information purposes only and is not intended as investment advice. Information and analysis above are derived from sources and utilising methods believed to be reliable, but we cannot accept responsibility for any losses you may incur as a result of this analysis. Individuals should consult with their personal financial advisors.
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