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10 Best Improvement Projects to Supercharge your Home’s Value
For homeowners looking to climb higher up the property ladder, the right improvement projects are key to boosting any home’s value.
Build4Less have researched which improvements offer the biggest percentage value increase to our homes, and calculated these figures against the average UK home cost (£268,000, according to latest ONS data) to reveal which improvements will really supercharge your home’s value.
Top 10 Home Improvements Projects to Increase Home’s Value
Johnpaul Manning, MD of Build4Less offers his tips for those planning on tackling some of these big renovations:
Adding storey extensions to your home
“Homes are valued on square footage, so adding up to 40m2 in space is a fantastic way to increase your home’s value. Think about where will be best to put your extension and whether there’s room. Building on the side is best for saving garden space, but that won’t be possible in a terrace so you’ll have to decide if you want more exterior or interior room. Wherever you choose, make sure the extension is in keeping with the property’s existing style. You want the extension to work on the outside, as well as the inside. Also, by doubling up from the kitchen, you can extend that space whilst building room above, a handy two-birds-one-stone approach that’ll really boost your home’s value.
“It’s also worth noting that whilst extensions will always increase value - they’re not cheap. A double-story extension, after fees, planning and construction costs could set you back over £50,000 so think about whether or not that ROI works for you. But even if you’re not planning to move, adding extensions is a great way to add extra rooms for growing families or those looking for more space.”
The boom in renovation projects in 2020 and 2021 will ultimately show that the housing market is still a solid investment.
Adding loft conversions
“One of the most popular kinds of home improvement projects. Loft conversions generally have a better ROI than other major extension works, and are less disruptive to the homeowners too, which make them the perfect way to increase space and add value to your home.
“Couple of things to bear in mind before you make any major changes - firstly, get your designer to illustrate how much headspace you’ll actually have. In some cases, ceiling height can be hard to read in the plans so it’s worth checking this out beforehand. Think about access and how people are going to comfortably get in and out of the space. And adding to the attic space is going to add weight onto the house, and you might want to get a builder to take a look at the foundations to make sure your home can take it. Remember to insulate too!”
“Basements are pretty uncommon in the UK, which is a shame, but you can take advantage of this by adding one to your property. You’ll not only really stand out to prospective buyers, you’ll massively increase the square footage of your home by basically adding a whole new floor - of course this is going to have a major impact on the home’s value.
“In urban areas without much room on the sides, a basement will really add depth. Not a job to be taken on lightly however - you’ll first need to find out if your property has the right ground conditions for a basement, by checking for unsuitable bedrock, high water tables, any existing structures or pipes.”
“Most garages are too small to comfortably fit a car in, so you tend to find people use them basically as junk storage rooms. Think about how you want to utilise the space however. Garages tend to be long and thin, so plan around that - for example adding an ensuite to the end can help square off the room, making it feel more visually appealing.
“A guest room is always good to have, but a second lounge is always worth considering, especially if you’ve got teens at home wanting their own space.”
On adding property value...
“While 2020 was a tough year from some industries, UK real estate has been able to hold its value; and even post record gains. While there are some other contributing factors, renovations have undoubtedly played a huge role in boosting property values.
With many still furloughed or working from home, homeowners have chosen to invest their time wisely. While renovations like a loft conversion or converting a property for open plan living can take time, they have the potential to add thousands to a property’s overall value. As a result, homeowners can enjoy their new house features and also benefit in the future if they ever choose to sell.
The boom in renovation projects in 2020 and 2021 will ultimately show that the housing market is still a solid investment.”
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