The cost-of-living crisis has had a knock-on effect on the housing market as people weigh up the risk of moving home at a time of financial uncertainty.

Indeed, house prices in the United Kingdom fell for a sixth straight month in February 2023, as buyers ponder whether to move at a time interest rates are at 4 per cent, meaning sellers might have to accept a lower price on their homes.

But the standard reasons for people moving still remain, such as going through a divorce, relocating for a new job, and upsizing after having children.

So, the demand for housing will typically always outstrip supply. With that in mind, here are four ways to add value to your home.

Storage

The most common reason for wanting to move is space or a lack thereof.

It could be needing space for additional family members or maybe young children are growing older and they need additional room.

Of course, it might be that a couple is looking to downsize and they are looking for homes with creative storage.

Adding features like a fitted wardrobe that suits your home or redesigning your house so it looks more can spacious can add value when you look to sell.

Garden

A well-kept garden could potentially add around £2,000 to the overall value of your home.

Brits are spending more time outside working in the garden than ever before, with an eye-watering £18.6 billion spent on UK gardens in 2021, and some features are particularly popular with buyers.

Indeed, the most attractive is a decent-sized shed where you can store garden tools, barbecues and perhaps even some clutter taking up residency inside the home.
Additionally, a good-quality patio, secure fencing, walls or gates, and artificial grass can help to boost value.

Convert a loft, garage or cellar

Typically a more expensive option but one that could reap longer-term benefits is to convert a loft, garage or cellar.

Doing so is generally a cheaper alternative that an extension or conservatory – although a cellar conversion can be quite pricy, perhaps around the £90,000 mark and may only add around 10% to the value of your house.

However, if you have a garage to convert, that will cost around £7,000 with a loft conversion around double that price.

If you decide to go down this route, it is important to consider the specific needs for the property before going ahead with your plans.

Energy efficiency

Every home that gets sold now has a rating for energy efficiency, indeed homeowners have to pay for an energy performance certificate when are they selling up.

It makes sense then to ensure your home is as energy efficient as it can be as doing so will make your house a more attractive proposition for potential buyers.

You could try installing a new, more modern boiler, and having insulation in the loft or walls.

Double glazing windows are also more energy efficient, while there is the added perk that they improve the appearance of your house.