Some of the most popular shows on UK television are based around home improvements and increasing the cost of our homes. Leading insurance broker, NC Insurance, look at which alterations can add value to your home and which, can actually reduce the curb\u00a0appeal and price of your property.<\/p>\n
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THE BEST WAYS TO ADD VALUE TO YOUR HOME<\/strong><\/p>\n Loft conversion But outlay and ceiling price of your street shouldn\u2019t be overlooked. If you spend \u00a330,000 on your \u00a3200,000 home but the top price for a property on your street is \u00a3215,000, you\u2019re not going to see a return.<\/p>\n <\/p>\n New kitchen <\/p>\n Additional bathroom Be warned, turning an existing bedroom into a bathroom will have a negative impact on the price of your home.<\/p>\n <\/p>\n Parking \u00a0<\/strong><\/p>\n AND\u00a0HOW TO LOSE VALUE\u00a0<\/strong><\/p>\n An \u201cacquired\u201d taste Think about broadening the appeal of your property by toning down gaudy wallpaper and showing off the best use of redundant space without reaching out to only the film or miniseries buffs.<\/p>\n <\/p>\n HOME RENOVATION TOP TIPS<\/strong><\/p>\n When undertaking a remodelling project, people often forget to review their insurance needs, too. Whether your renovation budget is large or small, you are adding to the value of your home and increasing your exposure to risk. To ensure that your project goes smoothly and that you have the appropriate cover you need, here is what you need to know.<\/p>\n Home renovations can be a daunting, yet rewarding, undertaking. However, before you or the contractors raise any tools to begin renovations, you should review your home insurance<\/strong><\/a> policy. The reason for this is that your policy may not cover renovations; therefore, any damages that occur during the process may not be covered.<\/p>\n In fact, 50 per cent of homeowners are unaware that not only do they need to advise their home insurer of any potential building works, but that if they were to carry out the works, their policy may be invalidated.<\/p>\n When you alert your home insurer of your impending renovations, you must also specify whether you are the one managing the renovations or if they are being handled\u00a0by contractors. What kind of insurance you need will depend on who is responsible for the renovations. For example, even if you are conducting the renovations yourself, you should purchase public liability insurance to provide cover in the event that you cause injury or damage to your neighbour\u2019s property or other third parties.<\/p>\n Regardless of who is conducting the renovations, you should provide your home insurer with the following information:<\/p>\n
\n<\/strong>Loft conversions are a popular way of adding a much needed extra bedroom for those fighting for space, and adding value onto the sale price. According to Legal & General, a loft conversation or extension can add 21% to the value of your home.<\/p>\n
\n<\/strong>Kitchen’s are very often the hub of many family\u00a0homes and a new kitchen is a move-in ready sign for potential buyers and can add 4.6% onto the value of your home. The whistles and bells of high-tech kitchens may be a step too far both in alienating those with alternate tastes and tipping you over from profit to loss.<\/p>\n
\n<\/strong>The battle of the bathroom is a mainstay in plenty of one-bathroom households \u2013 probably why an extra one is so appealing. One way to restore early-morning co-habitation harmony is to have an en-suite put into any new bedrooms you have planned for an extension or loft conversion. Sprucing up your bathroom could add 2.8%, while adding another could give you a 5% return on your property value.<\/p>\n
\n<\/strong>Conjuring a parking space may not be achievable for some, but if you have a property with both a front and a back garden, transforming the front plot into off-road parking could notch up your home value by 2.2%.<\/p>\n
\n<\/strong>It\u2019s important that you\u2019re happy with your home and its d\u00e9cor when living there, but prepping it for sale is another story. Using up valuable space for a cinematic screen and speaker system isn\u2019t going to win the house brownie points if you\u2019re potential buyer doesn\u2019t even have Netflix, and a hot tub screams \u201clegionnaires disease\u201d to some.<\/p>\n
\nTaking out old features
\n<\/strong>Original tiling, fire mantles, cornices and slate roofs enhance a property\u2019s characteristics as well as adding to its value. If you don\u2019t want to detract from either, leave them well alone.<\/p>\n\n