For most property owners, their real estate is their biggest financial asset.
By looking after a property and making smart updates and renovations to prevent it from becoming outdated, owners can maximise their return on investment when it’s time to sell.
What’s more, if a property you own is also your home, renovating can improve your comfort and wellbeing – providing a more affordable alternative to moving house.
If you’re looking for inspiration on how to add value to your property through renovations, then the experienced team at Mistoria Renovations can help!
This article explores the most popular renovations that can add value to your property.
Why do I need to renovate my property?
There’s no escaping the fact that property renovations can be messy, disruptive, and expensive.
However, strategic and well-planned renovations can yield substantial rewards. They can dramatically enhance your home’s comfort, functionality, and value, transforming short-term inconvenience into long-term benefits.
The motivations for renovating a property can be many and varied.
One of the most common reasons why property owners decide to renovate is because they find that as time progresses, their home no longer meets the needs of their family. Renovating can help add more living space or revitalise a tired or dated property to improve the comfort and enjoyment of those living there.
Renovations can also adapt your home to modern life’s evolving needs and preferences. From energy-efficient upgrades to remote working spaces and smart home integrations, renovations can help to future-proof a property and make it appealing for future generations.
If you know a property isn’t your forever home, making strategic renovations during your ownership can help increase your return on investment and make it more attractive to prospective buyers when it comes to selling.
Furthermore, if a property shows signs of structural degradation or safety issues, renovations become a necessity. In these cases, renovation work can help preserve the property’s integrity, ensuring it remains safe and stable.
How to add value to a property through renovation
Enhancing your property’s value with thoughtful renovations can yield an excellent return on investment. Here are some of the top renovation projects to consider to increase the value of your home.
Kitchen redesign – The kitchen is often considered the heart of the home because it is where families gather. Kitchen renovations come in all different shapes and sizes, from a full redesign to a simple cosmetic makeover. Modernising a kitchen may involve installing new cabinets or cabinet doors, countertops, flooring, tiling, and new appliances. If you have enough space, you may even want to add a kitchen island or a breakfast bar. While a kitchen redesign is a big investment, when done right, it can increase your property value by approximately 10 per cent and provide your family with a functional and attractive space for socialising together.
Extension – Although potentially the most expensive renovation on this list, an extension can drastically transform your property and make it stand out from others on the street. If you’ve run out of space in your home, an extension can give you the extra room you desire without the upheaval of moving house. Whether you need a home office, an extra bedroom, a larger kitchen, a new living space, or your dream games room, if you have the space outdoors to extend your property, the project could help you fall in love with your home all over again. What’s more, when you come to sell, an extension can add between 10 and 20 per cent to your property’s value.
Loft conversion – Loft conversions are popular renovations because they typically offer a high return on investment. Loft conversions tend to be much more cost-effective than extensions, often half the price, because they are converting existing floorspace rather than building from the ground up. The amount of extra living space you can add to your home with a loft conversion depends on the size of the loft. Some lofts can be converted into a small additional bedroom or home office, while others have enough space to create a new bedroom complete with en-suite. A well-executed loft conversion could boost your property’s value by up to 20 per cent, depending on your loft’s dimensions.
Garage conversion – If you already have off-road parking and your property’s garage is unused or has been turned into a dumping ground, a garage conversion could repurpose an underused space to enhance your home. Garages attached to the house can be converted into an attractive new living space or used to extend the home. Alternatively, if your garage is not attached to your house, you could turn it into a gym, games room, or home office, depending on your family’s lifestyle and needs.
Conservatory – Building a conservatory is a popular renovation for adding an attractive new living space to a property without breaking the bank. However, remember that quality matters and avoid flimsy conservatories made from poor-quality materials. While bespoke conservatories cost more, they can add between five and seven per cent to your property’s value. Conversely, a poor-quality conservatory could detract from it. Remember that conservatories require regular cleaning and maintenance to keep them looking their best, so only add one if you’re willing to keep up with its care.
Bathroom remodels – A remodel can rejuvenate an outdated or uninspiring bathroom into a fresh and calming sanctuary, adding between five and 10 per cent to a property’s value. Like a kitchen redesign, bathroom remodels come in all different shapes and sizes. Renovating a bathroom might involve installing a new bathroom suite, new tiling and flooring, installing storage units, adding a shower or removing a bathtub, turning the space into a wet room, or simply a lick of paint.
Energy efficiency improvements – With the current cost-of-living crisis, sky-high gas and electric prices, and a global focus on reducing carbon emissions – a property’s energy efficiency rating is more important than ever. Consider replacing an outdated boiler or heating system, improving insulation, or replacing old, draughty windows and doors to boost your home’s comfort and energy efficiency.
Off-street parking – Off-street parking can be an appealing selling point, particularly in urban areas where parking is at a premium. If you have a disused front garden or space outside your property, turning it into an off-road parking space or adding a garage can significantly increase your property’s value and appeal.
Open-plan living – Open-plan living spaces are popular because they create a spacious and airy environment. Removing the wall between the dining room and kitchen can often make enough space to install a kitchen island and breakfast bar to create a sociable space for people to gather. Equally, removing a wall between the living room and dining room can open up two cramped spaces and create a more relaxing and spacious living area. Removing non-structural walls to create a more open living area can make your property attractive to modern buyers.
Garden office – Since the Covid-19 pandemic, there has been a huge rise in the number of people working from home. If someone in your house works from home, building a garden office can provide a clear boundary between work and home life, adding value to the property in modern times.
Repairing structural defects – This is perhaps the least exciting item on the list, but while unglamorous, it is undoubtedly crucial. Addressing major structural issues such as subsidence, roof problems, or damp challenges is essential before undertaking other renovations. Ensuring your property is structurally sound can prevent a significant devaluation as well as ensure the safety of everyone living in it.
Renovate your property with Mistoria
Feeling inspired to renovate but overwhelmed by the prospect?
If you’re ready to transform your property and boost its value with a smart renovation, the team at Mistoria Renovations has the experience, skills, and passion to help bring your vision to life.
Based in Salford, our highly experienced and qualified building professionals regularly carry out renovations across Salford, Manchester, Liverpool, Bolton, and the North West.
From concept to completion, our property specialists handle every detail, ensuring your renovation project increases the value of your property and turns it into a space you can feel proud of.
Take the first step towards a successful property renovation by contacting our team to schedule a free consultation.
