Best and worst renovations to add value to your property

Whether you’re planning to sell soon or just want to add some value for the future, some renovations can really make a difference. Here are tips on updates that could boost your property’s value, and some hints on what to avoid.

Best renovations

• Kitchen remodel: Updating your kitchen is one of the most effective ways to add value. Think open-plan layouts, energy-efficient appliances, sustainable materials. The kitchen is often the heart of the home, making it a priority for many buyers. Some experts suggest that a well-executed kitchen remodel can increase your home’s value by as much as 15%!
• Bathroom upgrade: A clean, modern bathroom can make a big difference. Consider new fixtures, a fresh coat of paint, and updated tiling. Even small changes can have a big impact.
• Energy-efficient improvements: Adding insulation, double-glazed windows, and energy-efficient appliances can attract eco-conscious buyers. These upgrades can also save you money on utility bills.
• Curb appeal enhancements: First impressions matter. Simple changes like a new front door, fresh paint, and well-maintained landscaping can make your home more attractive.
• Loft conversion: If you have the space, converting a loft into a bedroom or office can add significant value. It’s a great way of creating usable space and adding an additional working room to your property.

Worst renovations

• Swimming pool: While a pool might seem like a luxury, it can be a turn-off for some buyers due to maintenance costs and safety concerns.
• Personalised decor: Highly personalised decor, like bold paint colours or unique fixtures, might not appeal to everyone. It can be safer to stick to neutral tones and classic styles if you want to attract a wider audience.
• DIY projects: Unless you’re skilled, DIY renovations can sometimes do more harm than good. Poor workmanship is often noticeable and can decrease your home's value.
• Room conversions: Converting a bedroom into a home office or gym might not always be a good idea. Bedrooms add more value than specialised rooms.
• High-end upgrades: Big-budget renovations might not always pay off. You may not see much of a return on your investment if buyers aren’t willing to pay more to live in your area.

Low-cost, high impact updates

On a budget? Upping the value of your house doesn’t have to cost the earth. Some cheaper updates that can make a big difference when you sell include:

• Painting rooms and hallways
• Replacing fixtures
• Cleaning or regrouting tiling
• New lighting
• Some light gardening

What matters to you?

Not every renovation needs to increase your home’s financial value. If something will improve your quality of life, and you intend to stay in the property, there’s no harm in making it your own.

However, if you’re planning to sell soon, focus on what will interest the widest range of buyers. With smart choices, you can enhance your home's value and enjoy the benefits of your hard work when you sell.

If you’re thinking about a renovation project and require funding, you can check your eligibility for a home improvement loan with us at Ocean.