A house for sale could be increased by £126,000 in value if these renovations are made, Sellhousefast.uk has revealed.
According to reports the number of Britons choosing to update their home, instead of relocation, has increased by over four million households.
The amount a home renovation can increase the value of your home by is likely to astound most Britons.
Even simply painting can add £7,000 to the price a home could fetch.
If Britons opted for a renovation spree they could increase the value of their home by just over £126,000.
This would increase the average UK house price from £226,798 to £352,798.
Sellhousefast.uk said: “Due to current economic uncertainty, it comes as no surprise that many homeowners are opting to add value to their current home instead of moving.
“This inspired Sellhousefast.uk to investigate which home improvements stand to add the most value to a property.
“Interestingly, giving the entire house a fresh lick of paint can add more than £7,000 to its value (3.1 per cent).”
A kitchen renovation stands to add the most value to a property equating to a whopping £12,442.87 (5.5 per cent).
Adding an extension to the loft and the kitchen will equally provide the greatest return on value – an extra £23,754.57 (10.8 per cent).
How much will these renovations will increase the value of your property?
New paint – £7,000
Updating the kitchen – £12,442.87
New roof – £7,013.25
New bathroom – £5,882.10
Improving the garden – £3,167.28
New bedroom – £25,338.21
Loft conversion and/or kitchen extension -£23,754.57
Basement conversion – £15,157.68
Conservatory – £13,574.04
New bathroom – £12,895.34
Total potential increase: £126,225.34
Speaking to Express.co.uk, Paresh Raja, CEO of Market Financial Solutions, explained what is likely to happen to house prices in the near future.
With further delays on a decision over Brexit, house prices are set to rise but this does not necessarily mean buyers should hold off.
If your house is for sale making this mistake with furniture could limit what you are set to make.
It’s vital those looking to sell property don’t make the mistake of not staging their home.