The amount of homeowners carrying out home improvements rather than moving has increased significantly over the last couple of years. Here we look at popular home improvements that are most likely to add value to your home, and the possible impact on your insurance policy.
New Kitchen wow factor
Research suggests homeowners are likely to spend most of their time at home in the kitchen, so any changes you make here are likely to have a significant impact. A new kitchen can also be the best way to give your home a ‘wow-factor’. Moreover, mid-range kitchen providers offer some excellent designs and deals. Indeed a recent Which? survey suggested that the best rated new kitchens for overall satisfaction were often in the low to middle range price bracket. However, ensure the cost of the work is relative to the current value of your home. Although the kitchen is, on average, the most expensive room in the house, with an average value of just under £5,000; there is a ceiling for every property. A £60,000 kitchen in a £250,000 home is unlikely to be financially rewarding!
Converting the loft
Increase your living space by converting your loft, effectively adding another room to your house. According to UK estate agents this is the second best way to add value to your home. Bear in mind that the floor will need to be reinforced, adding to its height, something to factor into your budget.
Making the living space open plan
According to UK estate agents this is the best way to add value to your home. In fact, creating an open plan kitchen diner is one of the most popular home transformation projects. However, knocking down walls inevitably comes with added risk and cost! If the wall is load bearing, a structural engineer will be required to advise on the installation of supporting steels. There will also be additional plumbing costs if relocation of your washing machine, dishwasher or kitchen sink becomes necessary.
Installing a sliding pocket or bi-fold doors between rooms is another option if the complete removal of a wall is not desirable. This will also enable you to open the space up or close it off when required.
Replacing the windows
Double glazing can have a big impact on the energy efficiency of your home, as well as reducing noise levels. Moreover, you can smarten up the look of your home in the process. Special care should be taken to ensure the windows remain in keeping with the historical heritage of the home; you can contact your local council to check the requirements.
Make the most of the garden
Bi-fold doors leading out to the garden have become increasingly trendy. Furthermore, they now come in a number of different forms and are no longer priced out of reach for the majority of homeowners. A bright living room or kitchen is often highly desirable for potential buyers and a great way to add value to your home.
Spruce up the front of the house
Replacing or painting the front door is a quick way to change the visual of your home. In addition, cleaning windows, unblocking drains or sandblasting your driveway could freshen the appearance of your home, without hurting your bank balance. First impressions count!
Will home improvements impact my home insurance?
It is important to notify your insurance provider of the work. This will avoid the risk of your policy being invalidated if you needed to make a claim. It is also possible there could be different restrictions placed on your cover, depending on the work taking place. You may be ok to proceed as normal; however it’s worth checking to be sure. You will also need to notify your insurance provider if you’re planning to leave your property for more than 30 days whilst work is taking place.
We recommend considering accidental damage insurance, if this is not already included on your policy. Legal cover is also beneficial if you were to have problems with the builders completing the job. In addition, if the construction company was to go bust after failing to complete the work, legal cover could help you reclaim your money.
It is worth noting that poor or faulty workmanship isn’t usually covered under a home insurance policy.
How can I save on my home insurance?
Our Home Insurance is negotiated with many of the UK’s leading insurers. This includes RSA, Zurich, Aviva, AXA, and Ageas to name a few. Cover can therefore be completely tailored to suit your needs at the best possible price!
We continuously review our best deals and can quote for buildings and contents cover or buildings and or contents separately.
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