Britons can 'drastically increase' the value of their property by 'changing its use' - add £300,000

Britons can 'drastically increase' the value of their property by 'changing its use' - add £300,000

Britons discussing house prices and getting on the property ladder

Anna Barry

By Anna Barry

Published: 03/04/2024

- 11:41

Turning your house into a HMO could add thousands. An expert claimed adding a loft conversion can also add as much as "£300,000", depending on the property type and location

Britons looking to rent or sell their homes can get a lot more for their property by being savvy.

A property investor shared his top tips for "drastically increasing" property value "without spending that much money".

Samuel Leeds took to YouTube to warn sellers: "When you're doing a refurb or trying to increase the value of a property, it's really important to do it the right way.

"Sometimes people will do things to a property - they'll spend money, but every time they spend a pound, they'll be increasing the value of their property by a pound."

Couple getting keys for home / Victorian housing London

Britons can boost their property value by making a savvy conversion


Samuel explained that the home improvements you make before selling must add more value than the amount you spent on it.

One way Britons can increase the value of their property is by "changing its use", turning a residential family home into a House in Multiple Occupation (HMO).

The expert explained that this can be a simple process. He said: "If you've got a three-bedroom house with two reception rooms, all you need to do is put in fire doors and furniture, then register it as a HMO.

"Rent it out on a room-by-room basis, and now you've changed its use." The result is that the rent is now "significantly higher".

Consequently, when the rent is higher, the property value is higher. Similarly, Britons with large Victorian houses can title split their home into apartments and "massively increase the property's value" in doing so.

However, the expert warned that this move may only work in some areas. In London, adding a loft conversion may cost £50,000 but add £300,000 to the property's value.

Homeowners who do the same in Doncaster may find that they've spent £50,000 but only increased the property value by £20,000 because there is a ceiling price on houses in that area.

The expert explained that it's essential that putting money into a property should make a profit.

An example of ineffective home improvements is if you spend £35,000 on a conservatory, and then end up selling the property for £35,000 more, meaning you haven't made any money.


Victorian houses in London

The expert claimed a loft conversion could add £300k to a Victorian house in London


Britons who don't have the time or money to invest in a huge property project can also increase the value of their property by making key tweaks.

According to a property expert, homeowners looking to increase the value of their property must avoid a lighting mistake that "is an immediate turn off for buyers".

A realtor explained that the right kind of lighting makes a home feel "bright, new, and comfortable", while the wrong kind of lighting can have the opposite effect.

Britons can also boost their house price by nearly £30k with a gardening improvement that "makes a big difference".

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