Improvements: Which are Losing or Adding Value to Your Property?

Deciding on what work to do first.

It’s said by a major building society that almost 50% of homeowners in the UK made some kind of alteration to their property in 2014, but not all remodelling work is created equal when it comes to impacting on the value of your house.

So, if it is your aim to add monetary value to your home by doing alterations then take a bit of time to think it through first. Even if that is not your primary aim it can still have a bearing if you are trying to get value for money or trying to make best use of the space that is available to you.

The #1 rule: check if you need planning permission, meet any building regulations, do the work to a high standard.

Adding Value to your home

Adding Extensions

Building a new room that is designed well & built to a good standard will almost definitely add value. Although if you are thinking in terms of a larger construction be wary of not overdoing it and stay within the character of the locality and bear in mind the resale prices of houses in the area – overspend & you may not even get your money back.

Changing the Internal Layout

It could be possible to make your house to feel more spacious by moving or removing a wall (or two) however,  bear in mind that not everybody likes open-plan living and its vital that you check that the wall you are going to remove is not load bearing before you knock it down. If it is a load bearing wall then there will be a lot more work involved.

Bedrooms & Bathrooms

Creating a new bedroom or bathroom is a good idea, especially if your existing one is becoming dated. Personally, I find a 3 or 4 bed family home with only 1 bathroom unattractive and if I was home hunting, this type of house would be very low on my list to buy.

• These alterations can add up to 5% to the value and are probably some of the most popular changes to make in the UK.

Conservatories

A very popular option as many can be added without the need for planning permission and the installation can cause little disturbance to your lifestyle. A good example can add up to 10% to the value of your property – but don’t take up too much of the garden!.

Kitchens

You don’t have to go mad & rip out the old one if the basics are good, why not just get the doors, worktops & drawer fronts changed – a much lower cost option and with some amazing products available a lot of the work can even be done DIY.

Lowering the Value – or low value for money

Just a few things that could have the opposite effect to what you would expect.

• Removing or losing a bedroom
• Pools, Jacuzzis, hot tubs etc. – nice to have, but not a value booster
• Losing parking space (front drive) – converting a garage is ok, but off-road parking can be very valuable in some areas.
• Loosing too much garden space – that extension needs to be the “right size”
• Not having the correct permissions or approvals in place – this is a deal breaker
• Over-doing it – if it’s not done tastefully then it could cost you.

Whatever you eventually decide to do, if you are going to get professionals to do the work always get a selection of written quotes and take your time to review them before “signing-up”