In this article, we look at some of the most lucrative things people have ploughed their money into and how you can add thousands to the value of your property. A fast Thursday 90-second read.
In 1903 John Gray invested $10,500 (approx. $264,000 in today’s money) into a small car company.
Fast forward 16 years and Gray’s family sold their share back to the Ford Motor Company for more than $26.25m (around $1.8 billion today).
The film star Ashton Kutcher invested a cool £364,000 in a start-up taxi service called Uber several years ago. You’ve probably heard of it. His stake is now worth more than ten million pounds.
But you don’t have to be a canny entrepreneur or heart-throb film star to spend your dosh wisely.
Below are five ways homeowners and landlords can add value to their properties.*
- A new bathroom can add up to 3% to a home’s value.
- Converting a garage to a home office or extra room can potentially create a 10-12% uplift.
- A loft conversion can help your property’s price rise by around 10-15%.
- A new kitchen can add 5% to a property’s value.
- A side or rear extension will add more space, and that will create a higher value for your property, potentially up to 15% depending on the size and quality.
*These estimates come from a Zoopla report from 2018 but are still relevant today.
We’ve experience in helping people work out what home improvements will also boost a property’s value.
So, whether you’re thinking of improving then selling, refurbishing then renting out or simply curious about what your home’s value on the Rayleigh & Hockley property market is right now, give us a call.
We’re here to help.
What’s the best investment you’ve made when it comes to your property?
We’d love to hear from you.
Thanks for reading.