Renovating your property, whether you’re a homeowner or landlord, can add value to your property and even boost its appeal for tenants and buyers. It’s important to be aware of what prospective buyers and tenants are looking for and are willing to pay more for.
With a huge number of Britons spending more time at home due to the coronavirus outbreak, it might be a great time to get stuck into some DIY home renovation projects. Many transformative property improvements include adding or maximising space, improving the layout and sprucing up the interior and exterior.
According to our recent survey of UK landlords, 63% of landlords have renovated their rental property since purchasing it. And 38% of landlords stated that their main motive for renovating was to make the property easier to rent and reduce void periods. In 2019, landlords spent the most money on decorating and repairing or replacing white goods compared to any other type of renovation.
Check out these six property renovation tips to help landlords and homeowners boost their property’s value and appeal.
Create open-plan kitchen-diner and living area
Creating an open plan kitchen, diner and living room is one of the most popular home renovation projects
. This type of layout is better suited for many of our lifestyles in the modern world, and this renovation can potentially add 3 to 5% to a property’s value, and make it more appealing to prospective buyers or tenants.
If you’re looking to knock down a wall that’s load-bearing, you’ll need to talk with a structural engineer to advise you on installing supporting steels. Additionally, relocating the kitchen sink and appliances, such as a washing machine and dishwasher, could add plumbing costs to your expenses if you’re not able to do that work yourself.
At Portico Handyman
, we have an experienced team of handymen, plumbers and gas engineers who can help with your home renovation projects, however big or small.
Give us a call on 020 7099 6999!!!!
to find out more, or view some of their latest renovation work by scrolling to the bottom of this article
3 bedrooms, 1 bathroom, Marylebone Lane, Marylebone, W1U
Enhance curb and garden appeal
First impressions matter, so wowing a prospective buyer or tenant straight away is imperative when selling
or renting a property
. Consider painting (or asking our London handyman
) the front door or investing in a new designer door that gives the property a wow-factor. Adding new windows, especially ones that face the street, could also help enhance curb appeal.
Redesigning a garden or adding features to a balcony or patio can also add to a property’s appeal. Turning outdoor space into additional entertaining space is desirable by many, and bi-folding doors can allow indoor living space to flow into the outdoor living space.
1 bedroom, 1 bathroom, Upland Road, East Dulwich, SE22
£500,000 (Share of Freehold)
Update the bathroom and kitchen
Bathrooms and kitchens don’t only help sell houses, but they also have a significant impact on how rentals are perceived as well. When a property’s fixtures are old, caulking is cracked and porcelain is stained, many home and rental viewers will turn their noses up at the property.
Modern updates to these rooms can really help lift a property, even by simply adding a bold colour to what was previously a white-wash bathroom can add to the wow-factor, creating an added warmth. In a survey by Carter Jonas, a modern kitchen and bathroom was named one of the most essential features for renters of apartments and houses. Tenants also stated a refurbished bathroom and kitchen was the top feature worth paying more for.
Additionally, adding an en-suite bathroom is a desirable feature for many tenants and homebuyers. In a survey of 5,000 UK renters
, an en-suite bathroom was the top in-property feature among all tenant groups surveyed. It's important to note that your landlord or homeowners insurance may not cover your home and personal property while you renovate, so it's worth looking into specific home renovation insurance.
1 bedroom, 1 bathroom, Chingford Lane, Woodford Green, IG8
Convert a loft, garage or cellar
One that may be slightly harder for the majority of us to do solo but there is no reason you can't start planning for that extension. Creating an extra bedroom in a property has the potential to increase a property’s value
significantly. Adding an average of £11,020 to a property price, converting a loft is the most lucrative property improvement, according to Halifax.
With property renovations that may require planning permission, such as creating dormer windows for a loft conversion or turning a house into flats
, it’s important to check with your local authority and keep in mind that submitting a planning application takes additional money and time.
5 bedrooms, 3 bathrooms, Knighton Drive, Woodford Green, IG8
Add plants and vegetation to the roof
As more people are going green, adding plants and vegetation to the roof of a property, also called a living roof, is becoming more popular. This renovation has even been found to be the second most profitable property improvement, adding an average of £8,676 to a property value.
Living roofs provide additional space for gardening and help blend the property into landscape and green space. If you’re interested in adding this to your property, you could try creating a DIY green roof, or an easier way to achieve a similar effect is to plant a container garden on the roof.
Design efficient storage
Creating efficient storage space
is also a strong selling and renting point, especially for young families, as maximising space is vital for organised living. Build shelves and install doors to use cupboards in a variety of areas of your property. Design storage for dead space, concealed nooks in hallways, under stairs space, above sinks and unused wall space.
1 bedroom, 1 bathroom, Anselm Road, Fulham, SW6
Find ways to add value and enhance appeal
There are a range of renovation projects that can add value and appeal to a home or rental property. And these improvements could put more money in your pocket when you sell or rent the property out.
Want to call in the professionals to help you with renovations you’d like undertaken on your property? Portico London Handyman can help fit a new kitchen or bathroom, and carry out a huge range of services, odd jobs and home improvements. View our handyman’s recent kitchen and bathroom refits
, or get an instant handyman quote
Give us a call on 0207 099 4000!!!!
for more information. Whether you’re considering selling or letting your property - or you’re just curious - get an up-to-date rental or sales valuation on your property in only 60 seconds with our property valuation tool