Renovations to upgrade your life AND boost your selling price
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It’s official – 2024 is the year of the “reno” as new research by Beams, reveals three quarters of homeowners (78%) are looking to renovate rather than move, with 68% citing a backdrop of uncertain economic factors a key factor driving them to stay put.
And there’s no shortage of home makeovers on the horizon, as three in four say their home or a room in their home is in need of a revamp this year, with a third saying the biggest drivers are: wanting to to add value to their home (35%), to improve energy efficiency to cut bills (33%).
Although many agree the most coveted rooms to renovate this year are our kitchens (44%) and bathrooms (47%), the majority (61%) are still unsure what home updates are actually worth their investment and will truly add value to their homes in 2024.
So to help homeowners spend their money more wisely, Beams – the simpler, greener renovation service – has partnered with Grant Bates, a trusted voice within the luxury property market, to reveal the best renovations to take on right now and the watch-outs to consider to escape costly mistakes to boost your list price when the time comes to sell:
HOTEL STYLE BATHROOMS AND PRINCIPAL SUITES: “We all spent more time at home in the last couple of years and started to upgrade our spaces, leading to a boom in hotel-style living. This can particularly be seen with bathrooms, and people are increasingly demanding design-led sanctuaries to escape to. I’d advise you to go bold with the aesthetic to give the wow factor (avocado is back!) and look for simple upgrades like double sinks and separate toilets for a touch of practical luxury. If you have the space, why not integrate the bathroom with a wardrobe & bedroom to create a sumptuous principal suite; by far the most sought after feature in properties right now.”
LAY THE FOUNDATIONS: “When you set out to renovate, it can be easy to skip to the ‘fun bits’ of design and style. But to maximise your ROI, make sure you’re working with trusted contractors, and you’re sourcing good quality materials from reputable third parties. Beams are godsend, and can do this for you, dealing with all the nitty gritty details that can slip through the cracks in a busy life and guaranteeing flawless, top-quality results”.
KITCHENS THAT ARE THE HEART OF THE HOME: “If you have the budget to transform one space, it should be the one that we all spend the most time in; the kitchen. Buyers are impressed by light and lateral spaces, and I’ve spotted a huge trend towards maximising storage to make life easier, think pantries and utility rooms, people are willing to pay a premium for them. And likewise, if you have a spare nook, try and embed a WFH spot there and really make it the heart of the home.”
GREEN UPGRADES: “A third of homeowners say that they want to cut their bills with energy efficient renovations, and they’re good for the planet too. Renovations are one of the best times to make your home greener and there are lots of ways to do this, for example updating your windows in line with Energy Performance Certificate requirements – something I get asked about a lot or using recycled construction materials. Ahead of renovating, Beams offers a free home energy assessment to identify where to invest.”
SPACE WITH PERSONALITY: “The homes that I sell that hit the biggest premiums have one one thing in common; they’re all design led, and their owners have let their individual characters shine through. Avoid here today, gone tomorrow trends, but renovate in a style that you love. That’s where designers like Beams’ expert team come in. They work closely with their clients to ensure that they co-create a space that they’ll love to live in.”
Natasha Briefel, Chief Marketing Officer of Beams, said:
“At Beams we’re here to make renovations simpler and greener for homeowners. There are various benefits that homeowners can reap from opting for a home renovation – from lowering household energy cost to optimising space and adding individuality into a home through design. Better still, by opting for the right renovation, people can boost their list price when the time comes to move on.”
“Renovations can be stressful, but with Beams, homeowners can be confident that their kitchen or bathroom makeovers are in the best professional hands. Beams ensures renovations are completed as seamlessly as possible, with expert project management, quality designs to maximise appeal and designs that will stand out in the marketplace.”
Grant James Bates, Head of Private Office at a leading London luxury estate firm commented:
“When it comes to renovations, equip yourself with excellent contractors, a tight timeline and a design-led focus, you can not only transform your home but ultimately drive value. Day-in, day-out, I am seeing turnkey homes going for big premiums, with up-to-date bathrooms and kitchens always being top of the priority list.
And when renovating myself, I have the same rules: be brave with the design choice, and opt for something I love and will stand out in a crowded market. If you love it, someone else will too.”
For those looking for quality, design-led renovations that maximise the value of their property, Beams’ expert contractors are on hand to help with simpler, greener renovations. Visit beamsrenovation.com to find out more.
