Top 5 Extensions To Add Value To Your Home
Make the most of the space available and add a serious mark-up to the asking price of your property. Check out our top 5 extension ideas to increase the value of your home.
1. Loft conversion
Add 20-25% to your asking price
Creating an extra bedroom in your loft space will make your property more desirable and could add 20-25% to the value of your home – especially in areas where bigger houses are scarce. It’s a sound investment: with the average cost of a conversion around £20,000, you could make a profit of tens of thousands of pounds when you do come to sell. For maximum value, include an en-suite bathroom to create the perfect self-contained sleeping space. If you’re not looking to move straight away, you could always make some extra income by renting out the room to lodgers or holiday-makers.
2. Convert your cellar
Increase your property value by 10-15%
If you’re lucky enough to own a property with a basement, transforming it into extra living space could leave you quids in. Increasingly popular in London where space is at a premium, basement conversions are pricier than loft conversions but have lots of potential. In well-to-do areas, many property owners take advantage of the cellar space by transforming it into a home gym or cinema. Or for those looking to make money from the space, a self-contained basement flat could be an easy source of regular cash.
3. Garage conversion
Add 10% to the value of your home
Is your garage a dumping ground for junk? If so, you could be wasting valuable space. Converting your garage into extra living space won’t encroach on your garden because it’s making use of an existing structure, and in some cases the extra room could add 10% to your property’s value. Before you go ahead, consider whether garage space is at a premium in your area. If so, your garage could be an attractive feature that you might want to keep. Think about where you’ll park and if you’ll still have ample storage.
4. Kitchen extension
Boost your property value by 5-10%
If you can’t swing a cat while you’re cooking dinner, extending your kitchen could make your property more desirable. You could choose to knock through a small galley kitchen to create an open-plan kitchen, living and dining area. Or if you have space at the side of your house, a side return extension could help you improve your kitchen; you could even opt for a double-storey extension to give you more space upstairs too. A word of warning: a kitchen extension is more likely to add value if your existing kitchen is small. If you already have ample space, it may not offer the best return on investment.
Add 5% to your asking price
A well-constructed conservatory is cheaper than a full extension, so it’s a great option if you don’t have lots of cash to invest. Think about how far the conservatory will encroach into your garden; you’ll need to weigh up whether an extra room will be more attractive to buyers than outdoor space.
At Abbey Partnership, we make it easy for homeowners to begin their extension, refurbishment and conversion journey! Whatever you have in mind, get in touch for a FREE consultation and quote or call 0330 108 8838 to speak to the team.