For most people, the purchase of a home is the single most expensive investment they’ll ever make. Mortgages typically take decades to pay off and a home is generally secured after years spent saving for a deposit and ensuring that your current employment will cover the costs of running a home.

For many homeowners, the property represents an ongoing investment, and they will be keen to undertake some meaningful upgrades to it over the years. Ideally, these will add significant value to the property, meaning that when the house is put on the market, it will sell for a price that allows the owner to move up the property ladder. In 2024, there are a wide range of options and renovations that can be undertaken to add value to your home. In this article, four popular options will be explored in detail.

Investigate the rental market

If you’re in the fortunate position of owning more than one property, an ideal way to gain additional income is by renting out one of the properties. The rental property market is currently booming and there are a range of rental options to consider.

A short term let can provide a significant stream of consistent income, especially if you have a property in a sought-after location that’s popular with holidaymakers. You may even consider letting out the property to longer-term tenants, using a property management agency to control the day-to-day functioning of the agreement. Remember that a property can be a vital source of additional income in these circumstances and the funds gained may help you to further increase your property portfolio.

Convert a spare room into a dedicated home office

It’s estimated that people in the US now work approximately three days a week from home across all types of professions. For many workers, the COVID-19 pandemic gave them their first taste of remote working and its popularity remains with both employers and staff even after the worst effects of the virus have passed. However, it’s important to recognize that a dedicated home office plays a key role in effective remote working. It creates a space where distractions can be kept to a minimum and productivity can remain high across the course of a working day.

A well-designed home office can add significant value to a property; estimates suggest that this can be as much as an additional 10% of the total value of the home. Home offices can also be easy to plan and design. As a rule, you’ll want to convert a spare or underused room into a dedicated home office and ensure that the space is kept free of clutter and distractions by adhering to a minimalist design style. Invest in a high-quality height-adjustable desk that will cater for working when sitting or standing and ensure that optimal lighting levels can be achieved. Loft conversions can work incredibly well as home offices, especially if they’re fitted with skylights to allow natural light to flood the space.

Consider the curb appeal of the property

It’s also vitally important to consider the curb appeal of your property when you’re looking to raise its value. Put simply, curb appeal is the term that relates to the exterior of your property (including the green areas and driveway), and the impact that its condition has on the overall appearance of your home.

When selling your property, buyers will make a first impression of the home based on what they see when they arrive. Manicured lawns and a lack of noticeable damage or aging to the exterior of the property can create a positive impact in the potential buyer’s mind. Conversely, evidence of poor home maintenance and unkept outside areas will create the impression that there are faults with the rest of the property. In short, consider your home from the buyer’s perspective and ensure that their first impressions will convince them to take a closer look at your home.

Appeal to fitness fanatics with a garage gym

Briefly, millions of adults enjoy working out at a gym and taking care of their personal fitness goals. However, in the fast pace of modern life, it can be difficult to find the time to travel to a local gym and commit to a suitable training session on a regular basis.

In recent years, home gyms have proved to be extremely attractive to potential buyers, especially younger and middle-aged adults. A well-designed and fully functioning garage gym can add significant value to the overall asking price of your home and is a relatively easy home renovation project.