We’ve put together a list of the top 6 improvements and the percentage value they add to a property. These figures are a good average but will also be affected by where your property is located.
Extension & Conversion Types
- Two Storey Extension
- Loft Conversion
- Garage Conversion
- Bungalow Conversion
How will you use your Extension?
It’s not just the extension type that adds value, it’s what you do with it that counts. So, the question should be which extension type and usage will provide the best return on your investment?
BUILDERS NEED PLANNING DRAWINGS TO PRICE AND BUILD YOUR PROJECT
Put simply (and using figures from NAEA Propertymark, the authority for estate agents), the following increase in value are likely:
- An extra bedroom – 20% (from 3 bedrooms to 4*)
- Bigger Kitchen – 15-20%
- Loft Conversion – 15%
- Extra Living Space – 10%
- Extra bathroom – 5%
- Conservatory – 5 – 7%
(*The extra bedroom being a master one with an en-suite).
Lifestyle Change – The Kitchen
Open-plan living is now much more popular. Separate dining room are rather outdated. Therefore, kitchen extensions are now very popular and that’s reflected in the value they add to a property.
Home buyers are attracted to a bigger kitchen. How much value can a kitchen extension add to your property?
If your current kitchen is small / narrow then you can expect to add value of £35,000 – £46,400 (15%-20%) to the average UK home.
Lifestyle Change – The Loft
A loft conversion can easily make you £15,000 profit. Additional bedrooms or a bigger kitchen will add the most value but they are more expensive than a loft conversion. A loft conversion offers a quicker return.
The average loft conversion costs £20,000 to build but can add £35,000 (15%) to the average home value.
The best use of a loft (depending on the property and planning permission) is as an extra bedroom.
The other factor, one to take into consideration, is where you live. The value can vary greatly.
Considerations Before you Extend or Convert
You should make sure your house extension or conversion doesn’t end up costing more than the value it adds to your house.
- Check the top price for similar properties in your location.
- Compare the budget to the value you add and make sure the estimated cost of the extension is lower than the potential added value.
- Consider any difficulties of the location, for example sloping ground or the need for deeper foundations.
- Quality costs more but will add more value, so make sure you hire experienced, qualified tradespeople to carry out the extension work to a high standard.
Add Value with Home Extension Designs
There is a lot to consider when extending or converting. We’re happy to offer our professional experience to the plans you’ll need for a successful project. Please give us a call for a friendly chat with one of our professional team.
and the HED Team
