5 Ways To Increase The Value Of Your Home
Whether it’s to sell your property soon or sometime in the future, it’s always worth considering how you can improve your home.
You not only want to make changes that will make your life more enjoyable but benefit you financially when you move.
Here we’ve listed five ways in which you can increase the value of your home. Of course you have to spend to make money as they say so we’ve listed the spending cost against the estimated return.
Draught-Proofing Your Property
Spending: £225
Estimated Return: £3,208 + £45 per year
According to Energy Saving Trust, it costs around £225 to professionally draught-proof your home. This could then add over £3,208 to your property value.
Plus, if it won't be a while before putting your property on the market, you can still enjoy a draught-free home that reduces your energy bills by £45 a year, on average.
Meaning you'll not only earn back your initial £225 payment in five years but enjoy a cosy home.
Install A Home Electric Vehicle Charger
Spending: £800
Estimated Return: £3,419
Soon, electric vehicle chargers will become a requirement on UK homes, so it’s worth investing in one now.
A home charging unit can typically cost around £800, but will add £3,419 onto the value of your home, according to money.co.uk
This is probably one of the least trying ways to increase your property’s worth, and you may as well get on board now. Electric vehicles made up 45.5% of all new car sales and more were sold last year than in the previous five years combined sales only seem to be growing stronger.
Install Solar Panels
Spending: £4,800
Estimated Return: £5,109 + £534 per year
For a three-bedroom house, installing solar panels typically costs around £4,800 and will add £5,109 to the value of your home according to money.co.uk.
And by not looking to sell immediately, that will only benefit you as solar panels will save you £534 a year on average. This is by cutting your electricity bills and selling your excess energy through the Smart Export Guarantee.
And when you do eventually sell your property, your solar panels will make it easier to sell.
Get Eco-friendly Light Bulbs
Spending: £145
Estimated Return: £2,469 + £40 per year
According to the Energy Saving Trust, the average cost of replacing your current light bulbs with LEDs is around £145, on average. This is a small investment considering it will raise your home’s value by £2,469.
Plus newer models of LEDs emit a warm glow, just like other bulbs so you won’t need to worry about cooler light and you can also save money in the short term with LEDs.
A typical household can cut their energy bill by £40 a year by replacing all their bulbs with LEDs, according to the Energy Saving Trust.
That means not only breaking even within four years but ending up with a £555 profit at the end of the LEDs’ 15-20 year lifespan.
Get A Smart Meter
Spending: £0
Estimated Return: £2,796
A smart meter is easily the cheapest addition you can make to your home because it’s free.
This can be done through your energy supplier who must install a smart meter in your home at your request and at no extra cost.
Once you’re ready to sell, your smart meter will immediately make you money as it adds an incredible £2,796 to a property’s price, according to a survey run by Money.co.uk.
It seems crazy not to increase your home’s value today, without paying a penny. So what are you waiting for?
Summary
You should now have five excellent ways that will not only increase the value of your property, but improve your way of living.
For more eco friendly money saving tips visit our homepage.