Essential home improvements for property developers

The key to selling property is to research, research, research. Doing this before you even invest in a property to develop will give you an idea of what people are buying in your chosen area and what renovations need to be carried out in order to add the most value to your home.

 

 

The key to selling property is to research, research, research. Doing this before you even invest in a property to develop will give you an idea of what people are buying in your chosen area and what renovations need to be carried out in order to add the most value to your home. Here are some of the essential improvements property developers should carry out to turn a profit and even help generate a quick sale of the property.

Loft Conversions

If your loft is big enough, you may be able to renovate and create an extra room or living space. Adding stairs to make it easier to access as well as some windows can add significantly to the value of your property. Your loft must be at least 2.4 metres in height to add a ridge beam, steel beams and a suspended floor to make it safe. These things all take up space so consider the size of your loft as it stands and make the measurements to ensure that the space remaining is large enough to create another room. You can add 10% of the value of your property onto the asking price once the conversion is complete.

Kitchen Renovations

Adding an extension onto your kitchen can add 12-18% of the value of the property to your asking price making it an extremely worthwhile investment. The kitchen is one of the main rooms in a home which will attract buyers so making it larger and more spacious will entice more buyers. If you have a separate kitchen and dining room then you can knock down walls to combine these. You can take space from areas adjacent to the kitchen to make it much bigger or you can simply have a new space-efficient kitchen fitted.

Add an Extra Room

Adding an extra room or an en-suite is a great way to attract buyers and can double the price of your property. A loft conversion is ideal to turn a two-bedroom house into a three-bedroom home. However, adding an en-suite bathroom to one of the bedrooms can also add up to £20,000 more onto the asking price. If you are on the market along with several similar homes with two or three bedrooms, building an en-suite bathroom or an extra room will give you the edge over the competition. If there is no way you can add a window, make sure you add enough lighting to make the space light and airy. There’s no need to add a bath; a walk in shower, WC and sink is enough.

Add a Conservatory

Adding a conservatory can cost between £10,000 and £75,000 but it can add up to 15% of the value of the property. You may need planning approval depending on how much space your new conservatory will take up so check this before you start work. The exterior of your property is a key selling point as many buyers will not even consider entering a property that looks shoddy from the outside.

Before you decide on what you want to add to your property, check with the planning department to ensure it will be approved. When planning your budget, add on some extra cash for unforeseen circumstances, emergencies and extra jobs.

 

Written by Julie Hanson

Julie is passionate about property – development, investment and portfolio planning. Along with husband Alec, Julie is actively building a property portfolio while helping others to do the same.

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Light up a north facing room
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