The hacks to add £100,000 to YOUR house: How adding garden 'shoffices', solar panels, a garage conversion and even just a lick of paint can help to hugely boost your property's value.
Before the pandemic, erecting an office in the garden was hardly the first option for homeowners looking to add value to their property.
But in 2023 - when working from home is all the rage - a so-called 'shoffice' (shed office) is now among the most profitable additions going, boosting a home's sale price by up to £21,500.
It comes as buyers' tastes are changing dramatically in the post-Covid era and amid the ongoing cost of living crisis.
Money Mail recently revealed that conservatories - once considered a luxurious extension to your home - can now drag down the value of your property by as much as £15,000 when you come to sell. But this is not the only feature that has fallen out of favour. Here, we analyse the latest property makeover maths to reveal the home renovations that you will make a profit on when you come to sell - and those that could cost you dearly.
Converting your garage, for example, could see a staggering £28,751 added to your home, while a garden office could add more than £21,000 and a utility room a surplus of £14,000.
Even just redecorating could help add just shy of £9,000, while an electric car charging point could bring in just short of £5,000.
The hacks to add £100,000 to YOUR house: How adding garden 'shoffices', solar panels, a garage conversion and even just a lick of paint point can help to hugely boost your property's value
© Provided by This Is Money
Why a shed-office adds £22,000 to your house price but an electric car charger barely makes a difference: Home improvements that add value to your home revealed
© Provided by This Is Money
Buyers' new habits
For years, open-plan rooms that combine a kitchen, dining and even a living room were highly prized. But during lockdown, many families found that these rooms were noisy and lacked privacy.
Lockdowns may have ended — but new habits have formed. Today, the 'broken-plan' layout is the new ideal. This can be achieved by reintroducing walls that were previously removed, or using furniture and furnishings to create the sense of specific zones for cooking, dining and studying.
Buyers are also seeking out properties with work spaces because many are still working from home a few days a week. Even if you do not work at home, you may wish to carve out a work space to impress potential buyers.
You can do this by adding a work station with a desk and nice lamp to the corner of a room — just enough so buyers can imagine themselves working comfortably at home. Better still is an insulated and weather-proofed garden office, or 'shoffice' (shed-office) at the bottom of your garden. The cost of installing one of these is around £9,500, but they can provide a £22,000 boost to the value of your home, according to analysis by Birmingham estate agents Barrows & Forrester.
Energy guzzlers
Conservatories are being snubbed by homebuyers who are worried the rooms are expensive to heat in winter and too hot to enjoy in the summer.
Other energy-sapping features have also fallen out of favour as a result of the soaring cost of gas and electricity. These include hot tubs and swimming pools, which are expensive to run and maintain. They may put off some potential buyers.
Martin Ballantine, of consultancy Prime Collection, says 'if you install a swimming pool, you're condensing your market to a niche. Lots of buyers will be worried about the cost of maintenance. There are also safety issues for families with young children.' More homebuyers are now looking at a home's EPC (Energy Performance Certificate) before considering a purchase."
To boost yours, consider adding insulation to the loft space if necessary and seal draughts around windows and doors. Double glazing typically costs £7,000, but boosts the value of properties by around £8,830 on average, according to Barrows & Forrester.
Henry Pryor, a buying agent who seeks out properties for house hunters, says 'most energy-efficiency improvements will be reflected in the value of a property these days, but not all of them. An electric car charging point will probably not add much value .. . yet."
This is because very few prospective buyers prioritise this feature at present. However, these charging points could become more valuable over the coming years as a growing number of households buy electric cars.
Add space
Increasing the square footage of your home is likely to add more value than putting in a fancy new bathroom or kitchen.
A garage conversion that creates an extra bedroom with an en-suite bathroom can give a £28,751 boost, for example. It is important to research the market in your local area before going ahead with any works.
Catherine Merrett, of Richmond-based estate agents Antony Roberts, says 'many people assume an extension or loft conversion will add value, outweighing the cost of the works. But much depends on your location. Scouring property websites Rightmove and Zoopla for homes similar to yours and comparing prices between those that have been extended and those that have not. Check the photos and floorplans of properties for sale and those that have recently sold. This should give you an idea of the potential return from improvements. For example, we have a pretty house on our books for £1.7 million that's not been extended. But a similar property in the locality which had been extended and refurbished sold for considerably more at £2.3 million."
Before you embark on a home improvement project, make sure the fundamentals are sound first.
James Forrester, of Barrows & Forrester, says "there are some home improvements, such as repairing or replacing a boiler or a roof, that may not provide any payback at all. But without such repairs, you may struggle to sell at all. Address basic defects before considering any improvement project."
Neutral zone
A neutral decor of beiges and creams is the traditional way to attract purchasers. But buyers these days can be deterred if a home looks too boring, soulless and corporate rather than inviting.
Vikki Broad, of Hamptons estate agents, says 'adding a bit of personality goes a long way. People tend to feel more emotionally connected to a property that has been loved and lived in, and where they can imagine themselves living happily ever after. Colour can evoke emotion, so don't be afraid to inject a bit into your home. You should also think twice about selling a property that is empty. Consider borrowing or renting some furniture while the property is on the market if it is not being lived in. People buy a lifestyle more than the bricks and mortar — and it's hard to imagine yourself living in an empty property."
Know the buyer
Think about what type of house buyer you are hoping to attract.
For example, if you think families are your potential buyers, Ms Merrett recommends a downstairs toilet and utility room, as well as plenty of integrated storage.
The typical cost of a utility room is £8,100 — but it can add £14,375, according to Barrows & Forrester.
Small changes
A new kitchen or bathroom could impress buyers — but you may be able to achieve the same result on a much lower budget. You can bring the wow factor to your kitchen by repainting or replacing unit doors or worktops and fitting new lighting.
Updating the kitchen hardware such as handles and knobs can be another cheap fix.
B&Q has a range of antique and contemporary styles. Browse the latest trends on Instagram, online and in property magazines to give you an idea of what buyers may be looking for. A quick redecoration can offer one of the best returns on your investment.
The typical cost for an entire repaint is £2,975, but should give an uplift of £8,913, according to Barrows & Forrester.
Some of the most effective home improvements require no budget at all. A spring clean and declutter can help make your home look much more desirable.
Ms Merrett adds "pruning trees and hedges if they are blocking the light to the property will help as well."
Make it an asset
Conservatories may no longer be in vogue, but there are still steps you can take to show yours in its best light.
Make sure it appears as a place to relax surrounded by elegant foliage, and not a storage facility for tools, bikes and other household items. If the heat of your conservatory wilts plants, replace them with the fake variety, available at retailers such as Blooming Artificial, Marks & Spencer, Robert Dyas and others.
You can also make your conservatory more energy efficient by putting in a better-insulated roof or blinds. However, the bill for these modifications can be in the thousands, and you may not make the money back when you come to sell.
As a quick and cheap fix, special films can be attached to the glass windows to help insulate them.