Are you thinking about selling your property in the near future? Or simply wondering how you can add space to your home while also increasing the value, then this blog is for you.
Here are the top 10 ways to add value to your home:
- Cellar conversions
Converting your cellar has the potential to add up to 30% value to your property. Cellar conversions are the easiest way to add value to a property as it qualifies as a ‘change of use’ for planning purposes. This means you will not require additional planning permission. If you don’t have a cellar, which you could turn into additional living or storage space, you are able to dig down to add square footage to your home but this require the help of a specialist team.
2) Split a house into flats
This practice is popular in inner city areas such as London where flats are in high demand and are often easier to rent. Splitting a property can maximise rental income short term and provide a profit later down the line when you decide to sell your property. This could provide you with up to 30% extra value on your property.
3) Convert your garage into a living space.
This kind of conversion can add up to 15% value onto your property. If you aren’t using your garage to store a car this kind of conversion makes the most financial sense. In many cases you will not need to acquire planning permission as the work will be permitted. But you should always check with your local authority to see whether or not planning permission is required.
4) Get a side return extension on the kitchen
Side returns are a narrow alleyway which run adjacent to the kitchen in most terraced or semidetached houses. Extending the kitchen into this area provides you with more space and improves the overall layout of your property. Work will be classed as permitted if it’s a single storey side return. This kind of development will need to be inspected to ensure it complies with building regulations. A worthwhile price for up to a 15% increase on your property value.
5) Convert your loft into a bedroom
A loft converted into a bedroom with an en-suite can add up to 15% value to your home. This is because properties with extra bedrooms are always more desirable. Roof light conversions require the least amount of structural work and are most cost effective. There are other conversion methods available such as mansard conversions. Mansard conversions generally will require planning permission.
6) Adding a conservatory
A conservatory can add up to 10% value to your property. Adding a conservatory is a permitted development but they do have certain requirements such as a minimum of double-glazed glass. If you already have a conservatory you can add value by adding a tiled roof to it to ensure it can be used year-round.
7) Planning permission
For any large-scale transformation, you will need to acquire planning permission. Calculations of yield are worthless if you are unable to acquire this permission, so make sure you check well in advance if you wish to make drastic changes. This can add 10% value.
8) Garden and Kerb appeal
A deck or patio can create a space for entertaining guests. Garden space is limited in some areas of the UK so make sure you capitalise on it if you are planning to sell. Kerb appeal is important to create a good first impression. A fresh lick of paint can go a long way. You can add up to 10% potential value.
9) A new bathroom
A new bathroom suite is a relatively expensive investment. But on the other hand, it can add up to 5% value to your property. To keep costs to a minimum, keep your existing bathroom layout as moving any pipes can be expensive.
10) An open plan living area
Save yourself the cost of an extension by knocking a wall out. If you remove the wall that separates your kitchen and dining room, you could add between 3-5% onto the value of your home. What is even better is that this could be done DIY if you didn’t want to pay a professional.