How to increase the value of your home: tips and strategies

Cost-efficient ways to boost your home’s value

Most of us at one time or another will want to increase the value of our home. Whether to boost its resale value or for some other reason, sometimes it just makes sense to invest a little – or a lot – in your home.

Careful planning and attention to detail can transform your home into a more valuable and desirable property for years to come. By carefully choosing where and how to increase the value of your home, always with an eye on making the most cost-effective changes, you can maximise your investment of time and money.

We take a look at five areas where you can potentially increase your home’s value, from those costing just a few pounds to more significant investments:

• Basic maintenance and cleaning.
• Small renovations and upgrades.
• Energy-efficient upgrades.
• Curb appeal enhancements.
• Adding living space.
• Will adding value to my home mean I can release more equity?

Basic maintenance and cleaning.

Maintaining a clean and well-maintained home is essential for preserving and increasing its value. Regular maintenance prevents small issues from becoming costly problems that could put off potential buyers. Keeping a clean and clutter-free home can also add to its value.

Try to catch up on all those tiresome jobs that we often overlook:

Roofs. When was the last time you got in your loft to check for leaks? The sooner you spot a problem, the easier and cheaper it will be to repair.

Gutters and downpipes. Inspect these areas and remove any leaves or other debris. Replace damaged shingles and gutter sections as needed.

Windows and doors. Regular cleaning of windows and doors doesn’t just keep your home looking good, it also guarantees you will be inspecting for early signs of damage.

Paintwork. Touch up any failing paint, especially on the exterior as this can prevent water damage. 

Clean and declutter. A good old-fashioned spring clean, along with a declutter, can also add value to your home. Ideal Home reported that three in five prospective buyers say they’d put in a lower offer if a property wasn’t clean when they viewed it. 

Once you are up-to-date on these tasks, why not create a schedule to stay on track with cleaning and maintenance? Allocate some time each week, month or season to tasks as appropriate. Keeping on top of these things not only enhances your home’s value, but also saves time in the long run.

Small renovations and upgrades.

Small renovations and upgrades can significantly improve a home’s value and make it easier to sell – often without breaking the bank.

Decorating. It’s amazing how much impact a freshen-up of walls and ceilings with a new coat of paint can have. If selling your home soon is likely, choose neutral colours to appeal to a broader range of potential buyers.

Kitchen. Replacing or refinishing cupboard doors and drawer fronts can make a huge difference. So too can upgrading the worktops and backsplash areas.

Bathroom. Replace any broken tiles, taps, showers etc. or go further by adding luxurious touches like a rainfall showerhead or heated towel rack.

Flooring. Replacing tired carpets, vinyl or laminate flooring may not cost as much as you think but can transform a room.

Lighting. Is your home stuck with dated lighting? Installing the latest lighting technology can instantly add a feeling of luxury to your home.

These jobs can of course start to feel daunting and overwhelming. To keep things manageable and less stressful, prioritise the improvements that will have the most significant impact on the home’s value first. What are the areas that you would be embarrassed to show to potential buyers? They are the places to start renovating first.

Energy-efficient upgrades.

When looking at how to increase the value of your home, don’t overlook the current interest in energy-efficiency. In research from Savills, up to 82% of respondents said energy consumption in their next home was more important to them in light of interest rate rises and the increased cost of living. Plus of course, if you improve your home’s efficiency you will benefit from lower bills while you still live there.

Here are four ways you can boost your home’s energy efficiency:

Windows and doors. Fix any broken windows and doors that are letting drafts in, or replace any older ones with double or triple glazing.

Insulation. Get a professional to check your existing insulation in walls, ceilings and loft spaces and upgrade where it will make long-term financial sense to do so.

Heating. Repair or replace inefficient boilers, radiators etc. It may even make sense to consider a switch to a modern system based around an air-source heat pump.

Solar energy. Install solar panels or a solar water heater to harness renewable energy, reduce energy bills, and increase the home’s green credentials.

Some of these upgrades are of course far from cheap, so you’ll need to think carefully and get professional advice on possible return on investment. Be sure also to research available energy grants, rebates and tax breaks for energy-efficient improvements.

Curb appeal enhancements.

First impressions count, and that’s definitely the case when it comes to potential buyers visiting your home. Here are some ways to increase your home’s curb appeal:

Front garden. Make sure any lawn, shrubs or flower beds look their best – with no weeds in sight! Consider also adding seasonal plants for year-round colour and interest. 

Path and driveway. Repair any cracks or damage to make the area look smarter and take away any trip hazards. These are also areas where you want to get on top of your weeding.

Font door. Paint or replace the front door to create a welcoming entrance. New door furniture (handle, letterbox and knocker) can also make a huge difference.

Lighting. Outdoor lighting is good for safety and security, and is more welcoming than total darkness in the evenings. Replace any blown bulbs or install new lighting if you don’t already have some. 

Sometimes it just takes a couple of hours and a few pounds to dramatically transform your home’s curb appeal. Even small changes that can be accomplished on a budget will add value to your home.

Adding living space.

We’ve saved what could be the most expensive way to add value to your home until last: increasing square footage:

Extensions. Add a room or extension to the existing structure, such as a kitchen, sunroom or conservatory. 

Basement, attic or garage conversion. Transform an unused and unloved part of your home into a functional living area, such as a family room, home office or guest suite.

Improve the existing layout. Adding space doesn’t always mean an expensive extension or conversion. Improving the existing layout is another way to make a home feel bigger and work better for whoever lives there. Taking out a wall or reconfiguring a kitchen can create a new feeling of spaciousness.

Use space-saving solutions. Clever built-in storage and multi-purpose furniture is another way to maximise the functionality of existing living space in your home.

Add outdoor living space. If adding living space to the home itself isn’t possible, look at ways to create more useful space outside. A new or upgraded deck, patio or pergola, perhaps with comfortable seating or even a dining area, could prove a cost-effective way to add usable living space to your home.

Please do take professional advice before any major investment, such as from a local estate agent, to make sure your money will be well spent. They can help you understand local property values and market trends.

Will adding value to my home mean I can release more equity?

If you are thinking that adding value to your home might mean you can unlock more cash with equity release, you could be right. The value of your home is one of the biggest factors in determining how much equity you can release. 

The amount of tax-free cash available through an equity release plan will be based on a percentage of the property value. This is why providers typically carry out property valuations when people apply for equity release. Therefore, if you are contemplating equity release you may decide to invest in some of the ways to increase your home’s value.

To find out whether equity release could work for you, speak to our friendly team on 0808 178 3055. They can connect you to one of our carefully selected advisers who can advise you on how your home’s value would affect how much you can release.

Alternatively can request a free call back here or get a free quote and an initial indication of how much tax-free cash you could unlock. 

About Richard Groom. A writer with 20+ years’ experience across several sectors including financial services, Richard has a passion for writing clear and simple content on even the most complex of subjects. In his spare time, Richard loves exploring the hills and mountains of the UK on long walks with his faithful cocker spaniel. Follow Richard on LinkedIn