Best renovations projects to increase value
Updated: Mar 16, 2020
Not all the renovations or remodelling of your home will increase value. Some could potentially decrease it if not done properly (!), but there are a number of things you can do to a house to ensure increase in value (pending market fluctuations obviously), if they're done thoughtfully and within regulations.
Here are some key renovations and additions that can increase value.
Conversion / rebuild of unused spaces
Most homes, particularly older ones, will have some sort of unused or under-used space that, if thought through carefully and creatively, can add value and usability to your home. These sorts of spaces can include older garages (particularly those built many years ago which would no longer fit a modern car!), lean-to's off the back or side of the house and older orangeries or conservatories. These can be converted to create a lot of extra space, particularly for things like offices, studios, guest/granny accommodation or utility rooms.
Increasing size of kitchen with internal remodelling or a single-storey extension
A carefully designed small single-storey extension to the rear or side of your house can create a huge amount of extra space, or the illusion of it, when added to an existing kitchen or living space. Many of these sorts of extensions can be done within permitted development so while you'll still need to comply with regulations, you may not need planning permission.
Check out the Planning Portal for further guidance www.planningportal.co.uk.
The current trend is to create an indoor/outdoor kitchen that links directly with the garden and usually achieves the wow factor for viewers.
Addition of a new home office or studio extension
With so many people working from home full time or part of the time, and with families needing flexible, extra space, it's definitely worth looking at the addition of a small office or studio space / spare room / den / teenagers retreat. This can be quite inexpensive and often available within permitted development and yet takes out all the office clutter from your family space and gives the sense of a lot more room.
Make sure you get advice on planning permission and building regulations before planning an extension of any kind.
Converting your loft
A recent Nationwide study found that adding an extra bedroom and en-suite bathroom through a loft conversion would add an average of 21 per cent to the value of a property.
Done properly, within regulations, a loft or attic conversion can add a much-needed extra bedroom or living space to a home and therefore add significant value.
If you want to be able to sell your house with an additional bedroom after conversion of an attic, you must make sure that the room complies with ventilation, structural floor strength, fire escape, safely designed stairs and reasonable sound insulation. If you do not do all these things and compromise the structure of your home, you could even devalue it.
Beware: not complying with regulations (as above) and making your house top-heavy, i.e. too much upstairs space / bedrooms in ratio to the living space below.
Modernising kitchens and bathrooms
These rooms are extremely important for house sales. A well-designed kitchen can really sell a house... It's all about usable, sociable, family-friendly space and good flow.
Tip: If you are thinking about selling after renovating, keep the works simple, neutral and low-cost if possible - by low-cost, I mean as reasonable as possible for quality, but definitely not a bodge job!
Beware: You may have very particular taste. Don't go putting in a shiny green kitchen, even if you do think it's fabulous. Likelihood is someone will want to come and rip it out straight away and their offer will reflect that...Same with bathrooms. Light, bright, neutral clean and well-planned that will appeal to a wide audience is what you're looking for.
Remember when you’re renovating to add value, clean lines and simplicity greatly improve saleability as do works that include and increase natural light.
The right renovation or addition to your home could greatly improve its value, but the wrong work could be costly. Always try to take a step back from your ideas and view your plans from the perspective of a potential buyer and get professional advice about planning and design to make sure you make the right choices.
For professional advice on what you could do to your home to increase its value, give us a call.