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How Can I Turn My Property Into A Profitable Investment?

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In July 2018, there were almost 100,000 residential property transactions in the UK – that’s a lot of homes changing hands in the space of just 31 days!

Property investment is big business, whether the investment is for a buy-to-sell or a buy-to-let property. Even properties that are purchased with the intention of becoming homes are still investments, with the average person in the UK living in seven houses in their lifetime. 

Whether you’ve just decided to consider selling your home, or you’re looking to buy a new property as an investment, it’s understandable that you’re going to want your property transaction to be as profitable as possible.

Whilst you may have no control over the influences that cause the property market to fluctuate, there’s a lot that you can do to turn your property into an investment that is going to yield a big return. 

One of the best places to start is close to home, performing the necessary home improvements that can add value to your home - and if you’re planning to rent, making your home more appealing to the rental market.

Here are our top four home improvements that can answer the common question: how can I turn my property into a profitable investment?

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Combined with tidying up the exterior of a property and replacing some of the basic furnishings, like curtains, the basics of home improvement are a great place to start to turn your property into profit

Improvement One: Paint and Decorate the Property

The first improvement is not going to cost a fortune, but it could see some serious money being added to the price of your property - and of course, make it much more appealing to potential renters. 

A lick of paint goes a really long way and certain colours can go even further, with blue in particular potentially adding thousands to a property’s value. Combined with tidying up the exterior of a property and replacing some of the basic furnishings, like curtains, the basics of home improvement are a great place to start to turn your property into profit. 

Improvement Two: Upgrade the Space in the Property

Space is everything in the property world.  If your property doesn’t have it, then it can really pay to find a way to add it. Adding just 25 square metres of space could see you adding £59,000 to your property value, and almost three times that for properties located in London. 

There are a number of ways that you can add space to a property, from investing in a conservatory (a great way to add space without paying a lot!), to converting a loft or even opening up rooms to create the illusion of more space.

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There are a lot of benefits to good insulation whether you’re looking to live in the property, you want to rent it out for a good price or you want to sell it on for a profit. First and foremost, quality insulation like spray foam will keep the property warmer for long – which in turn saves energy!

Improvement Three: Modernise the Property

Modernisation is important if you want to sell or rent out a property, as not only does it add value but it’s something that buyers are going to be looking out for. 

You can modernise your home in many ways, like upgrading and improving the central heating, adding underfloor heating and upgrading to triple glazing. A quick tour of the property will very likely reveal a lot of areas that can be modernised, especially if there’s not been much work done to the property in a while.

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There are a lot of ways to boost the value of a property to get a decent profit on an investment, and by beginning with the essential home improvements, you’ll be off to a good start!

Improvement Four: Insulate the Property

Our last home improvement is one that homeowners have been urged to invest in for many years now – good-quality insulation. Insulation is one of those property essentials, and you can really tell when a property doesn’t have it installed!

There are a lot of benefits to good insulation whether you’re looking to live in the property, you want to rent it out for a good price or you want to sell it on for a profit. First and foremost, quality insulation like spray foam will keep the property warmer for long – which in turn saves energy!

As you’re going to have to present your EPC whether you rent or sell the improvement to your energy rating that spray foam can offer is going to be an immediate benefit. In addition, this goes a long way to informing potential renters that their energy bills will be lower and this is always going to be a selling point!

Insulation will make the house thermally efficient, lower the noise levels, increase air quality, and protect against issues like mould and damp (serious potential money pits), so it’s certainly worth considering if you’re after a return on your investment!

There are a lot of ways to boost the value of a property to get a decent profit on an investment, and by beginning with the essential home improvements, you’ll be off to a good start. For more information about value-adding home improvements, talk to our team today on 0800 1700 636, or, alternatively, simply click the button below!