It’s common knowledge that home improvements can perk up an otherwise mundane property and add more value when it comes time to sell.
But before you start planning a new kitchen, extension, or conservatory it is a good idea to consider the costs of each possible improvement and see if the value they actually add will make the time and effort you need to put in worth while.
We'll also look at the need for ensuring you have structural insurance in place for any alterations you make.
Most valuable property alterations
Last year the National Association of Estate Agents conducted a survey about home improvements that add the best value to a property. Half of the estate agents who responded said that adding a bedroom was the biggest value booster, while a third recommended kitchen improvements. Others suggested adding a conservatory or converting a garage.
Research based on actual sales show that the most valuable improvements are a new bedroom (extension), loft conversion, extra bathroom, new kitchen, or installing a new central heating system.
So how much do these leading improvements cost, and how much value do they actually add?
Conservatories add rooms to a home, but building one means giving up some garden space. If you plan to implement one that’s under a certain size, you can do it under permitted development and won’t need planning permission.
Conservatories are great ways of adding extra home space for less. They can bring in a more light and open feel to adjoining rooms and even support an open plan design although you may have to consider building regulations on closing of areas with doors for fire safety.
Building a conservatory can add around 5 percent to your home’s value, but will cost between £4,000 and £10,000.
Extensions vary in size scope, from adding a new bedroom to building two entirely new storeys. Wide variations make it difficult to determine how much they cost in general or how much value they add as a category.