When it comes to selling a home and climbing up the London property ladder, it’s only natural to want to get the best return on your investment, and smart home renovations are a key component of selling. But when it comes to home improvements, your choices can seem endless. At Rickman Properties we believe discovering which renovations are worth investing in is a rather good starting point. So, for a good return on investment (ROI) on your London home renovation consider our following suggestions from our property experts.
Conversions and Extensions
Loft and cellar conversions, as well as extensions will likely add great value to your home. Of course, one of the biggest attractions with this renovation is the additional space it brings. More space will generally equal a higher price, especially in London when every inch counts! Be sure to hire true professionals for the job though – it’s not one to skimp on.
For the majority of conversions and some extensions, planning permission isn’t required. That’s when they fall under your national permitted development rights, so you can theoretically carry out the building works immediately, without planning consent. That said, you have to get planning permission if your plans exceed certain limits and conditions, like extending or altering the basement or roof space beyond its current limits. There are exceptions to this rule when dealing with listed buildings or properties in designated areas, so be mindful of this too.
What you make of this new space could have an even greater impact on the value it brings as well. For example, extra bedrooms and bathrooms can add significant value to a home. Extending the heart of your home like the kitchen can also be an excellent choice for ROI. Alternatively, this could be a chance to install that cinema room, library or office space you’ve always wanted!
A conservatory is another smart renovation to consider, especially if you don’t have the budget for an extension. If done right, conservatories will boost the value of your home. They’re an excellent way to bridge the gap between your property and the great outdoors, whilst introducing lots of natural light and space too. They often don’t require planning permission either but don’t forget that building regulations are a separate matter.
A downside of a conservatory is if it’s not built to be used all-year-round. To achieve this may require a greater investment such as triple glazing, which will reduce noise and increase energy efficiency too. Consider this when you’re deciding whether this smart renovation is the right choice for you.
As already mentioned, kitchens are often the beating heart of your home as it’s a place where friends and family tend to congregate. So, upgrading this space can be a smart way to achieve a successful ROI!
A popular way to upgrade this space, if you have the room, is to make it open-plan. These days, kitchens aren’t simply a place to prepare meals, so introducing a multi-functional space that encourages sociability can bring great benefits to the property. If your current living room is next to your kitchen you can consider knocking down the wall between them, if circumstances permit, avoiding a greater extra cost for an extension.
Double-glazing is considered an essential by many buyers these days. Therefore, it’s common knowledge that windows have a large effect on your house valuation. Remember to invest in energy efficient windows that could save the household money whilst also adding to the design.
Don’t forget, if you’re renovating a period property, you’ll need to be sensitive to the style of the house, or you could end up decreasing its value!
While we’ve sparked some ideas, choosing the right smart renovation for your property is a highly personalised choice depending on many, sometimes circumstantial, reasons. If you would like to make smart renovations on your home to achieve the best ROI contact us at Rickman Properties to receive expert individualised advice.