How to… add value to your home

 

Kitchen and Bathroom
If there are two areas to focus on to add value to your home, it’s the kitchen and bathroom. These can be the most complicated and expensive rooms to update but, if done in the right way, they will be sure to give you a good return on your investment. They also set the standard for the rest of the property. Whether you go for a slick contemporary kitchen or a more traditionally inspired design, opting for high-spec finishes and top of the range appliances will automatically help to push your property into a higher price bracket. Equally, choosing a branded kitchen from leading manufacturers such as Pedini, Bulthaup or Poliform will give prospective buyers confidence in the choices of finishes throughout the rest of the home, and might even tempt them to spend that extra bit more to acquire the property.

Planning
Take the time to consider the flow of a home: identify key functions for each room and plan accordingly. A good layout is fundamental to adding value. The moment potential purchasers walk into a home that is considered, there is a feeling of comfort and space - crucial to the saleability of a property.

For example, the choice to sacrifice a bedroom for a second bathroom might enhance your own use of the space, but it could affect the sale price if there is a ceiling on prices in your area. The number and size of bedrooms should be carefully thought-out at the planning stage: A two bedroom house with a tiny second bedroom will be worth less than the same house and space, but with two evenly spaced rooms. The layout should also make sense to the market; a family home will have different requirements to a bachelor pad, likewise a shared apartment for professionals. With limited space, a good idea is to open up the kitchen to the living / dining areas – this not only creates a feeling of openness, but is also functional both for family living and individuals alike.

Kitchens have evolved over the years to include ‘great rooms’ – a place where the family can eat, play, or relax while dinner or lunch is being made. This growing trend towards open plan kitchens/dining areas not only serves families well, but is great when entertaining as there is an openness and flow. Designs of kitchens have thus evolved and cabinetry is essentially ‘on show’.
Similarly, there is a growing demand for basements. Adding a basement is an obvious way to add value both in physical space and investment value – it makes a great play room for children, a media room, or a place where families can ‘hang out and chill’.


Furnishings and Fittings
The finish in your home will have a direct impact on its market-value but it is important to remember that the result is not always relative to the amount of money you have to spend on materials. For example, faux leather is more cost effective than real hide and can also be more hard-wearing and practical. You might use silk for scatter cushions in a master bedroom but use a less extravagant, more cost effective material where more length is needed for curtains or throws.

Another great way to add interest is by addressing the wall finishes – a simple coat of paint in a fresh or dramatic colour will instantly lift a room and set the scene, as will using a wall paper.
It is important to be creative with the budget as well – spend where it adds value, such as kitchens, flooring and some key finishing touches.

The Garden
A well-designed, interesting garden can make a stronger lifestyle statement than any other area in your home and will set your property apart from others in its pricing. Decking, lighting and low-maintenance planting will look good all year round, which should be a consideration if your garden is on view from windows or glass doors. The front of the property is crucial; it should be well-maintained with a solid front door and interesting planting where possible. The first impressions will always count for a prospective buyer and sets the tone during viewings.

Storage
Storage is all-important in city life where space is limited as clutter can let an otherwise great property down. Ensure that you provide ample storage at the planning stage - it’s always better to have more than less in this instance. If you have an attic, consider boarding it over and installing retractable ladders for personal belongings that you don’t need regular access to. Provide ample cupboard space for coats, shoes and the paraphernalia of everyday life so that you don’t have to live with clutter on show. While a certain amount of personal items on show is by no means a bad thing, too much can be distracting. Again, it’s about creating a feeling of space and harmony.

Technology
Lighting is key to good design. To add value, consider hiring a specialist company to help create ambient lighting schemes which suit different functions – entertaining, relaxing and working. The integration of lighting functions with Audio Visual elements can be controlled on a central system, such as Crestron. The considered, clever use of technology immediately raises the perception of value to any home and in fact, more discerning customers will expect the latest equipment and gadgets to come as standard.

The market
Knowing your market is essential. For example, a separate laundry room and large kitchen will be priorities if you are designing a house in a family neighbourhood, but less so if the house is designed for a professional couple in a more urban environment. It is also important to research prices in your area before refurbishing your home if adding value is your goal. Once you know what the ceiling price per square foot is for your area and the demographic, you’ll be in a better position to make an informed decision on where to where to spend your money in order to gain the highest potential return on your investment.

By Kamini Ezralow, managing director of Intarya, the leading interior design offering from Northacre. For more information visit www.intarya.com