House prices are currently at an all-time high as Brits look to take advantage of the Stamp Duty holiday, which is in place until March 2021, reports Powered Now.
UK house prices have hit a record high with the average home now worth £245,747.
Mortgage lenders Halifax said property prices were 5.2% higher than the same month a year earlier and property values were up by 1.6% month on month.
While lockdown and furlough have meant many of us have spent more time in our homes than ever before, this has provided Brits with ample time to evaluate our homes.
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In light of this, Brits are now looking at which home improvement projects could help add value to their properties.
As many as 18% of Brits are planning to re-commence home improvements after the Covid-19 lockdown.
And 33%, or three million, of those are looking to re-landscape their garden.
Meanwhile, a whopping 20% have employed a tradesperson to re-do their kitchen.
But, which home renovations will add the most value to your home if you’re looking to sell?
Ben Dyer, CEO of Powered Now - a mobile-based billing, invoicing and quotation application which specialises in trades - has offered insight from the trades on the top three home improvements that everyone could do to help push house sales over the finishing line.
Here’s what he had to say:
"From my experience, garden landscaping is the number one home improvement project that has the potential to add up to 20% value to your home,” said Ben.
“A decent sized shed can add a valuable living space to your garden, and good quality paving is also a desirable factor for prospective buyers.”
The CEO added: “An inviting kitchen at the heart of the home is essential for increasing value.
“A new kitchen which makes the most of the space can add up to 10% value to your home.
“Even small changes such as new tiles or a lick of paint here can make the world of difference.”
Ben commented: “An outdated bathroom is one of the biggest reasons a prospective home buyer could be put off from a property.
“Consider neutral fittings and replacing unfashionable tiles to add up to 5% value to your home.”
So, if you’re wanting to add a few grand, or a few tens of thousands, to your home, consider ripping up the tiles and counters.
After all, it might pay off big in the long run.