If you’ve decided to start investing some capital back into your property, it’s in your best interests to identify the most impactful improvement options from an ROI perspective; in other words, which projects can provide the greatest boost to your home’s resale value?
This brief article will help fill in the blanks.
As the heart of your home, the kitchen represents a very important area. Just ask any local real estate appraiser:
- More than 90% of today’s appraisers say that any property with a refurbished, modernised kitchen will be easier to sell on the open market.
- Even a minor kitchen augmentation will allow you to recoup more than 80% of the up-front contractor fees.
- A typical, mid-range kitchen renovation can add somewhere in the neighbourhood of €11,000 to your property’s listing price.
Loft or Attic Conversion
If you partner with one of the trusted building services in Wimbledon and schedule a loft conversion, you’ll be able to add another viable living space to your property and significantly increase its intrinsic value:
- The average ROI of a loft conversion is approximately 84%.
- Depending on the size and scope of the project, you can add up to 21% to the value of your home.
- If your property is currently valued at €200,000, for instance, a functional tertiary bedroom could add more than €40,000 in resale value.
As one of the most obscured areas of the home, it’s important to note that your bathroom actually represents a gold mine in today’s day and age:
- For every pound spent on a bathroom remodel, you’ll be able to recoup upwards of 55%.
- Adding a half-bathroom can add about 10.5% to your home’s value.
- Adding a secondary bathroom with a shower stall or built-in tub can boost resale value by more than 20%.
With this instructive information at your disposal you’ll be able to create a robust plan for your next home improvement project. Be sure to partner with a distinguished local building firm and start identifying the most practical options.