We’re still in the midst of the COVID 19 lockdown, that means a lot of uncertainty in the housing market. However, because these blog posts are revisited, it’s a good chance to talk about ideas for long term projects to property that can add value, the additions that will always be useful if you have the time to make them (and we all have plenty o time right now)
Firstly, making your property as energy efficient as possible is a great way to add value. We all know that energy prices are going up and they aren’t likely to come down for a while. This means that every penny you can save with a good energy efficiency rating is a penny well saved. Admittedly, his is a more useful strategy with older properties, as they often aren’t fantastic at maintaining heat and can be adjusted with modern fittings. Whatever the age of your property, a simple way to ensure energy retention is by fitting your home with modern, double glazed windows. Some varying designs of windows that offer increased efficiency include those are A+ rated, with a metallic coating which reflects heat back into the room, as well as this you can find window panes filled with argon gas (some have up to a 34% lower thermal conductivity to air, ensuring they keep in the heat).
Inside the property, opening up your home to the outdoors and letting in natural light is a great way to give the impression of a much more expansive/less confined living space. Installing long glass patio doors (such as bi-fold or sliding doors) will work to modernise your home. Adding glass to show more of the outside space will connect it with your garden and bring your space to life. There are plenty of options available in terms folding doors and french windows, so have a look to see what’s available.
Adding space can drastically improve a property long term. An extension, such as a solid roof conservatory or a glass panelled orangery, is a safe way to add value to your home. The extra space in a property can be used for a broad range of functions, for example; a home office, playroom or dining room. It’s worth mentioning that currently (under COVID 19 lockdown), installations cannot go ahead right away, but you can still have initial discussions about planning and quotes for extensions or just consider the idea/save the money for it in the future.
If you have the space and ability to build one, a garage or a carport is a great way of improving the parking prospects for a property. A carport is similar to a garage, however it doesn’t have the wall panelling and is much easier and cheaper to build. Either method is a positive way to ensure that those looking to buy the property have a safe space to store their vehicle (and stop overhead damage), as well as improving the aesthetic of a front drive.
General aesthetic changes can be done easily to a property, but they do add up. Think of a shiny new gate, well painted front door, or even a repaired fence, all these elements work together to create a fuller picture of a well maintained house. What does the property look like from the kerb? If the answer is: there can be some small improvements, think about making them (especially whilst we’re in lockdown, you can use your time effectively painting a fence).
These are some effective changes you can do to your property to add value in the long term. I hope you have found some of the suggestions helpful (whether in lockdown, or you have come back to read this blog post).
Nick Fox started his property investment career 10 years ago and his portfolio has grown to one of the largest in the UK. Nick now mainly focuses on HMOs (houses in multiple occupation) and works to help others achieve property success too. Visit here to find out how he can help you.
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