Adding value to your home can be a small or big process – from painting the walls and weeding the garden to larger scale projects including new bathrooms and kitchens, loft conversions and central heating. But what project could add the most value to your property?
It is estimated that a 10% increase in floor space will add around 5% to the price of a typical house in the UK, so adding extra space to your house could be well worth the investment.
Movewithus.co.uk carried out research with UK estate agents to find out the best improvements you could make to your home. They discovered that the top five ways to add value to your home are:
1. Adding an extra bedroom
Creating an extra bedroom can add an average of 8.8% onto the price of a home. You could create an extra bedroom by building an extension, adding a loft conversion or re-arranging the layout of the rooms in your house – all costly home improvement projects which would need consideration before undertaking. You would need to ask yourself the question, would the value added to your home outweigh the cost of the job?
2. Converting your loft
Adding a loft conversion can add an average of 7.1% onto the price of a home but, again, this is a costly job which needs consideration to make sure the value outweighs the cost. Remember, if you are looking to extend the roof space so that it exceeds any specified limits and conditions, you might need planning permission –you should speak to your local authority if in doubt.
3. Creating an extra bathroom
Creating an extra bathroom can add an average of 6.1% onto the price of a home – do you have a cupboard under the stairs which could be converted, or an unused space in your bedroom which could be turned into a compact en-suite?
4. Fitting a new kitchen
Fitting a new kitchen can add an average of 5.8% onto the price of a home, and as a kitchen is often the focal point of a home it’s important to get it right. The majority of kitchens cost, according to Which?, between £1000 and £3000 but beware of costs spiralling higher than predicted on all the accessories.
5. Installing central heating
Installing central heating can add an average of 5.4% onto the price of a home and doesn’t have to break the bank. According to homebuilding.co.uk, the cost to install central heating into an average three-bed property with no heating system previously in place costs around £3,235–£4,200.
For the full list from movewithus.co.uk visit: http://www.movewithus.co.uk/top-tips/on-adding-value-to-your-home
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