If you’ve been weighing the pros and cons of today’s most publicised home improvement options, it’s in your best interests to take a closer look at the ROI matrix; in other words, see how much value you can add to the appraisal of your home with a particular project.
Revamped Kitchen or Bath
According to several prominent real estate studies, remodelling your kitchen or bath is one of the best ways to bolster your home’s resale value. As a matter of fact, you’ll be able to recoup more than 100% of the initial labour and material costs, which means that a £10,000 kitchen or bath renovation can increase your home’s intrinsic value by up to £12,000.
The most prominent building services in Harrogate specialise in kitchen and bath construction so it makes sense to schedule a fee-free, no-obligation consultation to review your options and gauge the feasibility of a renovation.
If you’ve been pining to augment and expand your interior living space, converting your garage is a great way to go:
- A poorly organised floor plan that lacks open spaces can bring down a home’s value by about 25%, which is why garage conversions are very impactful in today’s day and age.
- A contemporary garage conversion can add anywhere from £5,000-£10,000 to the value of your home.
- Including a modernised carport will further increase your ROI and ensure continued protection for your vehicles.
Extensions and Bump-Outs
According to a survey of about 100 local appraisers, an extension or bump-out is also a very economical home improvement option:
- The average ROI for an extension is about 71%.
- A £16,000 extension project can add more than £11,000 to your home’s resale value.
- Nine of every 10 real estate agents state that homes with an extension are “easier to sell and sell for more money”.
With this handy guide at your disposal, you can confidently begin establishing a robust plan for your next home improvement venture.