Well the one word answer is… probably. Which might not be the answer you want! But there is no certainty, as you may build a very poor or niche extension that puts people off, but it is more likely that it will add value to your home, how much value is another matter. So if you’re asking ‘will an extension increase the value of my property?’ Read on to find out.
Interestingly the ONS (Office for National Statistics) have a website where you can put in your postcode and the square footage of the extension and it will estimate the increased value, this is no guarantee at all but it is based on the value of land in different areas of England and Wales and might be of interest. To have a look click here.
So, how can you maximise the value it will give your home? We have some ideas for you here, but please remember that if you plan to live in the house for a long time then the most important thing is its functionality and appeal to you, as it is your home.
Keep it neutral – now we don’t mean boring, but it is worth bearing in mind that most buyers prefer to see neutral colours as they can then imagine putting their own stamp on it. You can still use bright or bold patterns and colours, but add these with the accessories and the furniture. A simple and classically decorated room can easily be brightened with a patterned rug or bright coloured lamps or furniture etc. and by adding your personal touch in that more temporary way it will be more appealing when you come to sell.
Here are our top tips to ensuring you do add value
Keep it practical – Adding a spiral staircase inside or ornate metal steps into the garden may all seem like fabulous ideas at the time, but will they appeal to everyone when you want to sell the property? Buyers may be elderly or have children. You may also like to consider these things for your own future, we all grow old and you cannot predict how mobile you may be. It is also a good idea to avoid permanent things that are too quirky, unusual murals or water features of scantily glad Greeks might not be the way to go.
Keep it precise – You don’t need the most expensive decoration or kitchen cupboards or carpets but make sure whatever you choose is finished to a high standard. Instead of leaving things half done or taking shortcuts use a firm that will ensure the job is finished accurately and with a good quality finish. Make sure you tile behind and under appliances like washing machines, cutting these corners will come back to haunt you one day otherwise.
Keep the garden – Grand ideas are great and if you have the budget having a big extension is no problem at all but be realistic. Creating a multi-storey extension that takes up 75% of the outdoor space may not benefit you as much as you think. These days more and more people want a garden and as we are all on top of each other in this country it is really lovely to have your own outdoor space. Gardens on new builds are notoriously small and if you have a good space, weigh up how much you might lose with an extension and how that will impact the value. The key word here is balance.
Keep it legal – If you are making a significant change to your property it is likely it will need planning permission. You may see that neighbours have extended and think you can just get it done and apply retrospectively but there are no guarantees and who knows if they got permission anyway. Play by the rules and there is no risk of having to tear it down or leaving it unsellable as planning permission proof will be needed if and when you sell. Using a firm that can manage the planning permission side can reduce this headache significantly. For more information on how we can help with this, see a previous post.
So, in conclusion, if you are sensible with your choices and design a space that not only you will enjoy but that appeals to most people, then in most cases you will add value to the property.
At KT5 Construction we can help you plan, design and build the extension you have always dreamed of whilst helping you maximise the value you are adding, all with high quality workmanship and a flawless finish. For help with your extension or conversion contact us on 0845 053 7224 or drop us an email at email@example.com.