It is common knowledge that home improvements can add value to your property. But with so many possible home improvements to choose from, it’s crucial to select those that have the potential to deliver the best return on your investment when it’s time to sell your home.
With this in mind, consumer brand VonHaus and estate agent Bramleys have shared one top home improvement that they claim has the potential to raise the value of your home by up to £10,000.
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What features can add value to your home?
Luxury rooms, according to Vonhaus and Bramley, are becoming increasingly sought after in British homes.
A luxury room is essentially a custom space in your home that’s neither necessary nor basic. They are typically regarded as novelty items that can accommodate personal hobbies and ‘create a statement’.
More importantly, a luxury room can significantly increase the value of your home. One luxury room, in particular, can add up to £10,000 to your home. That luxury room is a spa bathroom.
Bathrooms, along with kitchens, are two of the most popular selling points for a home. Playing your cards right with this particular space means that you could profit handsomely when it’s time to sell your house.
According to VonHaus, the addition of a top-quality bathroom with spa features, such as a freestanding bath, steam shower and Bluetooth speakers could add £5,000 to £1,000 to the value of your home.
What other luxury rooms can add value to your home?
Apart from a spa bathroom, here are a few other luxury rooms that can also add significant value to your home.
|
Luxury room |
Value added |
|
Cinema room |
£3,000 – £5,000 |
|
Walk-in wardrobe |
£2,000 – £5,000 |
|
Fitted office |
£1,000 – £2,000 |
|
Gym |
£1,000 – £2,000 |
|
Games room |
£1,000 – £2,000 |
What else do you need to know about making home improvements?
When making home improvements, such as adding a luxury room, you may discover that the potential increase in your home’s value does not necessarily cover the costs involved.
That does not mean that the project is not worthwhile or valuable for you and your family. Remember that part of the increased value comes from the added enjoyment or functionality that you will get from the newly improved house while you are living in it.
If it is clear that the change in your home’s value will not cover the costs, ensure that you are at least satisfied with the added benefits that the improvement will bring.
That said, there are ways to save money when making home improvements.
For example, instead of purchasing brand new items or materials for luxury rooms such as gyms or home offices, you can search the web for second-hand or sale items. eBay and Gumtree are good places to start when looking to score bargains on items or materials.
You can find more useful tips on saving money on home improvements in our article on how to add value to your home without breaking the bank.
What can reduce the value of my home?
We’ve established the features that can boost the value of your home by up to £10,000. But what issues can decrease its value and potentially lose you money when you sell?
VonHaus has also researched this and established 10 issues that are likely to turn off buyers. If you have any of these issues, it’s important to address them before putting your house on the market:
- Mould
- Damp
- Bad smells
- Cracks in the walls
- No garden
- Cracks in the floors
- Lack of storage
- Stains on the walls
- Dark rooms
- Not having a bath (only a shower)
