Can You Make Money on Your House Renovation?

25.02.16

Every house renovation project comes with its fair share of financial costs, from planning and permission to materials, labour and any future maintenance down the line. 

That being said, there’s still ample opportunities for homeowners everywhere to recoup on their investment, making it an even more viable option for anybody looking to decorate and expand their property. 

Still unsure? We’ve put together a few tips and tricks on how you can profit on your next renovation project. 

Call in the professionals 

If you want a job doing, it’s not always best you do it yourself. When it comes to making serious augmentations to your home - with the intent of getting the best value for your money - you don’t want to go down the DIY route. 

Employ proper partners and builders. Scout around for trusted firms and make sure you receive answers to the questions you want to ask. And find out how much work they currently have on, in order to get a straightforward answer as to how quickly they can get around to you. 

The future-proof is in the pudding 

You may love the idea of controversial and exploratory colour combinations, but when you’re decorating with the intent of selling your house in the future, you need to think about a scheme and layout that will appeal to buyers - not just your own palate. 

The same goes for permanent fixtures, such as ovens and fireplaces. The kitchen, in particular, is an area that buyers will want to see as being ‘accessible’, so be sure to showcase this with a modern, clean-looking setup. 

Be the Man (or Woman) With a Plan 

Even if you haven’t put in a loft conversion or extension, it’s still a good idea to get planning permission and showcase this when the time comes to sell your house. 

A property can look even more attractive to buyers when they know you’ve already been approved for future building work, as it prevents them from having to do it themselves, whilst realising as-yet unrealised potential. 

Think about proportions and compromises 

Let’s say, hypothetically, that you currently live in a three-bedroom house and decide you need to add an additional two bedrooms to accommodate your growing family. This now becomes a five-bedroom property. Do you have the proportionate number of bathrooms to go with them? 

You may think adding more bedrooms will automatically add value, but everybody’s needs are different, and a disproportionate layout is not an attractive proposition to buyers. People would rather buy a four-bedroom house with two bathrooms, than a five-bedroom house with one or maybe two bathrooms. 

Maintain, maintain, maintain 

There’s a great deal to be said for consistent upkeep and regular maintenance of your home. It doesn’t only add value in the long run, it also helps appeal to anybody viewing your home (prior to the preliminary viewings) on the likes of Google Earth. 

This means taking care of the exteriors on a regular basis too; doors, windows and garages, everything needs to be kept in a state of glossy freshness.