In December last year the government announced a change in the way stamp duty was calculated, making it more like income tax.
The majority of home owners will pay less, or the same amount of stamp duty on their homes under the new scheme. However homes that are valued at over £1M will see their stamp duty costs increase.
With the average house prices in London surpassing £500,00 last year and the average detached house price in Buckinghamshire increasing to £556,540 it is no wonder that more home owners are deciding to improve their homes, rather than move and pay increasing moving costs and duties.
Improving your home could include anything from designing a new modern kitchen, renovating the back garden or adding an extension onto your home. Whatever your refurbishment route you want to create a home that works well for you and your family now and in the future as well as ensuring the increase in your property value.
If your home doesn’t already have it, install double glazing. In a growing age of increased awareness of energy efficiency home buyers will be put off by single glazing or inefficient windows.
Adding an extra bathroom into a property can increase the value by up to 10%, an en suite to the master bedroom is the ideal location. Make the bathroom design modern and minimal using modern tap designs, heated towel rails and glass shower screens rather than traditional shower curtains.
If space in the home is limited to add a new bathroom a loft conversion can add a new bedroom and bathroom to most homes. Construction work is fairly minimal but a new stairwell will be needed to create access to your new living spaces as well as strengthening of the joists in the loft.
A long standing and ever growing trend in modern living is the desire to create an inside-out living space. There are various ways to do this, either by adding bi folding or sliding doors to the rear of your property or creating external living areas in your garden by adding an external kitchen or fireplace. These small changes are extremely attractive to home buyers at the moment and can add up to 5-10% to your pretty value.
Contact the experts at Sky House Design Centre for more advice about changes you can make to your home.