If you’re looking to add real value to your home, there are a number of opportunities for you to explore. From small, cosmetic changes to bigger, more permanent additions, investing time and money in your home can really pay off when the time comes to selling it.
Home extensions are a popular option for homeowners looking to reap the benefits of adding more square footage to their property with an almost guaranteed boost in property value included. Extensions can be tailored to your needs and are a viable option for a range of budgets.
So, what are the five ways a home extension can add value to your property?
A loft conversion is a great way to extend your home by making the most of the space you already have but perhaps don’t use to its full potential.
If you’re focusing on increasing the value of your home as much as possible while on a tight budget, converting a loft to be used as an extra bedroom or office space is ideal.
There are three main types of loft conversions: internal loft conversions, dormer loft conversions and roof-off loft conversions. The latter is the most extensive and therefore requires the largest budget to complete.
If a loft conversion appeals to your needs, in most cases you will not need to apply for planning permission. However, loft conversions may need planning permission if they do not meet the required criteria as per the Permitted Development Rights and/or exceed 40 cubic metres of new build for terraced houses and 50 cubic metres for detached and semi-detached houses. It’s important to note that not all lofts are suitable for conversion or extension, so be sure to consult with your builder before making any concrete plans.
How much value can a loft conversion add? Well, the Nationwide Building Society has stated that a loft conversion has the potential to add up to 20% to the value of your home, especially if the space can be used as a double bedroom.
The kitchen is the heart of most homes and is often a crucial deciding factor for potential homebuyers.
Having a good kitchen in itself adds value. Even small cosmetic changes such as repainting or replacing worktops can help increase the value of your home. Creating a kitchen that will draw in buyers can be difficult for those that are short on space. So why not extend your kitchen? A single-storey extension can open up your kitchen, giving you the freedom to do more.
A kitchen extension will not only improve the overall appearance and appeal of your home but will also add to the square footage which will in turn increase value.
A new kitchen can cost upwards of £10,000 but can add up to 10% more to your house value if done right.
Working at home has become an essential part of the day and has therefore impacted the building requirements of the average homebuyer. With this trend set to continue, home offices are an in-demand feature.
Many homebuyers now have office space listed as a must-have when searching for a new property, so why not cater to your buyers by creating a much sought-after office space?
Extending your home to allow for sufficient space to carve out your own workspace could set your house apart from others and may just become a priceless addition for those desperately seeking a quiet space to concentrate.
In the current market, a home office could add 8-10% more to your property value.
Prepared to make a big investment? Then a two-storey home extension may be the perfect solution for you.
Requiring the most time and money, a two-storey extension is one of the most drastic options for those looking to increase the value of their property. However, this investment can offer the biggest return.
A double-storey extension gives you double the options. Using the space to add an en-suite to a bedroom is a popular option and has its own benefits. This type of home-extension proves popular as an alternative to moving house as it offers the freedom of more space for less time and money spent purchasing another property all together. A well-thought out two-storey extension could see your property value increase by over 10% depending on the quality of the build. As it is such a big build, you will need to seek advice from the building regulations approval to ensure the extension is compliant.
Why not make your home feel more grand with a conservatory?
With a conservatory you can bridge the gap between your home and your garden and reap the benefits of newfound indoor space.
Conservatories have come back into favour over the past few years, and are a great option if you have enough garden space to dispose of.
You could even opt for a sunroom if you’re lucky enough to have a south-facing garden.
A rear-single story extension can cost between £4,000 and £10,000, which can lead to an increase in value by five per cent – an average of around £15,000.
If you’re unsure whether to start your home extension project now, read our blog to find out why it’s a good idea to start planning now.
Our specialist services ensure that on most projects it is common for Western Building Consultants to provide all the services required for your project in-house.We have a wealth of experience in conversions and extensions for both residential and commercial building. Take a look at our residential case studies to explore our previous work in the Bath area, or get in touch with us today on 01225 789307.
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