Phil Spencer reveals how you can add value to your property
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Adding value to a property is an investment that can ensure a home sells for more than its original purchase price. While many homeowners will consider adding an extension, a conservatory or converting a garage to create space and value, there is actually increasing popularity around luxury rooms. Property experts have shared their tips on interior changes that add potentially thousands to the value of a home and how to create luxury on a budget.
Home renovations have become extremely popular, so much so that the worldwide home improvement market was valued at £560billion in 2020 and is expected to grow significantly over the coming years.
In the UK, searches for ‘cinema room ideas on a budget’ (over 400 percent) and ‘walk in wardrobe kits’ (over 100 percent) have seen a huge increase over the last 12 months.
But what types of luxurious rooms should homeowners be specifically creating if they want to make their home more desirable?
VonHaus has conducted research around the UK’s favourite luxury rooms and worked with experts at Brameys to reveal the value that these extravagant rooms could add to a home.
VonHaus’ research reveals that a spa bathroom can add significant value to a home, with an estimated increased value of around £5,000 to £10,000.
So, the addition of a top-quality bathroom with spa features such as air-bubble freestanding tubs, steam showers and Bluetooth speaker shower heads could bump the cost of a house up by thousands.
Cinema rooms also add both value and desirability to a home.
Whilst a cinema room can offer an amazing entertainment space, it can also be versatile and easily swapped back into a snug area during the times a cinema room is not needed.
Other in-demand rooms include a walk-in wardrobe, a fitted office, a gym, and games room, all increasing your home’s value between £1,000-£5,000.
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Emily Caloe, Senior Buyer for VonHaus commented: “Having a luxury room can really transform your home but if you’re looking to sell it’s important to note that desirability is at the forefront of buyer’s minds.
“Therefore, it’s handy to create a space which can also be removed.
“Adding a sense of luxury to your home doesn’t have to cost you thousands and thousands of pounds.
“For example, simply having a popcorn maker in your make-shift cinema room can help create that unforgettable cinematic experience.”
From home gyms to walk in wardrobes, VonHaus has offered their top tips on how to create the room of dreams whilst on a budget.
Upcycling is a great way to transform a room on a budget as it is cheap, easy and looks good.
Britons can upcycle a chest of drawers and coat rack for a spare room to create a lavish walk-in wardrobe.
Finish the room off with favourite art pieces, plants, and mirrors to allow natural light and a fresh vibe into the space.
Luxury rooms don’t have to cost as much as people may think.
In terms of rooms which can rack up the price such as gyms and games rooms, Britons can search the web for second-hand equipment which does the job and looks the part.
Another tip is to make sure home furnishings align with what sells.
When selling a home, it needs to appeal to the wider public, so be cautious of any fitted rooms or bold coloured walls.
Gemma Caufield, Residential Branch Manager & Senior Valuer at Bramleys said: “I think the most popular rooms of 2022 will be home offices and gyms.
“Many people are working from home indefinitely and require a permanent space to work which they can close the door on when the workday is complete.
“Health and well-being is becoming an increasingly popular revelation so I do feel many people will start to invest in gym equipment at home to fit in with their busy lifestyles.”
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