The Home Improvements which Add the Most Value to your Home in 2021 – and Why we REALLY Renovate

0
704
  • A new report by mutual insurer, Royal London, asked homeowners how much more they would offer on their next home if the property had certain home improvements 

  • New kitchens and bathrooms add the most value to your home in 2021 

  • The influences that drive home improvements revealed  

With more time spent inside than ever before, over the past 18 months, it may come as no surprise that home upgrades and improvements are now top of many homeowners agenda. One of the reasons why people take out equity from their house is for home improvements. 

From adding new kitchens to converting unused loft space, there are many upgrades that can be made to make the most of the place we call home.  

These changes may be invaluable to our day to day lives, but it’s no secret they can also increase the monetary value of a property too – but which upgrades add the most value? 

A new report by Royal London reveals which upgrades will increase your home‘s value the most in 2021 (along with the real reason we renovate), according to UK homeowners. 

THE VALUE OF HOME IMPROVEMENTS 

Royal London asked homeowners in the UK how much more they would offer on their next home if the property had certain improvements 

The report reveals adding a new kitchen and a bathroom to a house will add the most value, in 2021. 

The full list can be seen in the table below: 

Rank 

Improvement 

Value added to property 

1 

Modern kitchen 

£11,159.95 

2 

Modern bathroom 

£10,915.12 

3 

Loft conversion 

£10,845.17 

4 

Spare bedroom 

£10,744.35 

5 

New boiler/heating system 

£9,647.50 

6 

Modern windows 

£9,597.93 

7 

Garage conversion 

£9,503.32 

8 

Landscaped garden 

£9,502.17 

9 

Conservatory 

£9,390.26 

10 

Modern doors 

£8,601.15 

 

THE REAL REASONS WE RENOVATE 

Royal London asked people on a scale of 1-10 (with 1 being not influenced at all and 10 being very influenced) how influenced they were to renovate their homes based on the different factors such as seeing their neighbours upgrading and viewing images of celebrity homes online.   

The full list of influences can be seen below: 

Rank 

Influencing factor for renovating 

Score (1-10)  

1 

The need for more space for myself or partner 

7.0 

2 

Selling the property 

6.6 

3 

The need for space for kids or pets 

6.3 

4 

A need for more space to work from home 

6.3 

5 

A desire to hold more social events in the home 

6.2 

6 

Seeing upgrades to family members property 

6.0 

7 

Seeing upgrades on a neighbours property 

5.8 

8 

Viewing images of celebrity homes online 

5.3 

WHAT HOME IMPROVEMENTDO BRITS MAKE WITHIN THE FIRST TWO YEARS OF OWNING A PROPERTY? 

The report also asked UK homeowners what home improvements they have made within the first two years of living in their property.  

Nearly half (48%) of homeowners invested in a new kitchen within the first 24 months of ownership, while 39% improved their bathrooms.  

The full list of most popular upgrades to be made within the first two years can be seen below:  

Rank 

Improvement 

% of respondents who’ve made this improvement to their home  

1 

Modern kitchen 

47.9% 

2 

Modern bathroom 

39.3% 

3 

Landscaped garden 

27.3% 

4 

New doors 

24.3% 

5 

New boiler/heating system 

23.1% 

6 

Modern windows 

20.8% 

7 

Decking 

14.7% 

8 

Home office 

14.5% 

9 

Loft conversion 

14.2% 

10 

Conservatory 

14.0% 


Help keep news FREE for our readers

Supporting your local community newspaper/online news outlet is crucial now more than ever. If you believe in independent journalism, then consider making a valuable contribution by making a one-time or monthly donation. We operate in rural areas where providing unbiased news can be challenging. Read More About Supporting The West Wales Chronicle