Property experts Kirstie Allsopp and Phil Spencer have revealed renovation tips that can increase a home's value by up to £63,000. The pair, known for their show 'Kirstie and Phil’s Love It or List It', help homeowners decide whether to renovate or move. Analysis of data from the first four seasons by Insulation Express showed that the average renovation added £63,000 to a property's value, with an average profit of £13,444 after costs.
The most profitable renovations involved altering the layout to better utilise space. Two properties achieved a £35,000 profit by investing £60,000 and £95,000 respectively, focusing on moving rooms and changing layouts. The experts advise homeowners to consider how they use each room and what potential buyers might want, such as a large kitchen or open-plan living areas.
Smaller improvements can also yield significant returns. One couple spent only £7,000 on a kitchen renovation and repainting, which added £20,000 to their home's value, netting a £13,000 profit. The experts emphasise that a fresh update, like a new kitchen or a lick of paint, can greatly enhance property value without major expenditure.
