The UK housing market has been difficult to navigate in 2023 with house prices falling and mortgage rates going through the roof, which has made some homeowners very wary of putting their house up for sale. It’s estimated that house prices have seen a drop of 5.3%, making it the largest reduction in 14 years. So, if you’re looking to sell your home this year, then you may be looking for ways to make more money and increasing the value of your home through renovations is one of the best ways to do just that.
So, if you want to know which home improvements add the most value to a house, then our guide can help. Read on to find out more.Figure out your budget first
Home improvements can cost a lot of money, so knowing your budget and where this is coming from is important. You may have it in savings, borrow it from a friend or a family member or take a loan out from a bank. The latter will require you to improve your credit score if it’s low, so start doing that now to increase your chances of securing a loan when you’re ready to start your project.Convert your loft
Converting your loft will essentially add a whole new room to your home, which means you can list it as a house with more bedrooms than when you initially bought it. This could therefore add as much as 20% to the value of your property, making it one of the best ways to add lots of value.Add off-street parking
Not many drivers will want to leave their car on the road overnight as it puts it at risk and can make insurance premiums more expensive. Therefore, converting a front garden into a parking space can add as much as 10% to the value of your home, making it a worthwhile and potentially cost-effective improvement to make.Add a new kitchen
The kitchen is the heart of the home for many people, so ensuring it looks great is essential and adding a modern design with state-of-the-art appliances is essential for enhancing the value of your home. It’s believed that a new kitchen can add up to 10% to the value of your property, making it a wise choice if you’re looking to sell your home in the future.