Home extension or loft conversion ‘can add 20% to house value.
Adding an extra bedroom or bathroom also increases value of property. Location remains key to house values but Lea Valley Lofts Ltd based in Waltham Abbey Essex know that their are other factors such as the size of the property that are considered in a properties value. The size, number of bedrooms and bathrooms that a property offers are also important to home buyers and add value.
Lea Valley Lofts Ltd have helped many families increase floor area in Hertfordshire, Essex & London. Home improvements that increase floor area, such as an extension or loft conversion, remain a good way to add value. Ultimately, of course, the decision to invest in the home is an individual one. Home improvements may come with a price tag and hassle of workmen and dust but the potential benefits are far greater.
An extension or conversion is a great investment to greater the value of your home. The costs and stress involved in moving home and all the hidden tax bills have made a huge percentage of people invest in their current property instead.
Based on a recent from a popular building society shows some facts and figures in extending your home. Extending your home or adding a loft conversion can add more than £42,000 to the value of an average property, while an extra bathroom could boost its worth by nearly £10,000, a report has found.
Based on average house prices, it was calculated that an extra bathroom could add 4.9% or £9,600 on to the value of a home in the UK, while increasing the floor area by 10% could add another £10,000, or 5.1%, on to its worth.
A home extension or loft conversion could increase a property’s worth by about 22%, or £42,700. Meanwhile, adding a decent-sized extra bedroom has the potential to boost the value of a home by 11%, or £22,100.
Homeowners who add a loft conversion or extension incorporating a double bedroom and a bathroom can add more than 20% to the value of a three-bedroom, one-bathroom house. Increasing the floor area to add an additional bedroom of 13 square metres could add 10% to the value of a terraced house or 13% to a semi-detached home, when upgrading from two bedrooms to three, according to a recent analysis. If a homeowner were upgrading from three bedrooms to four, this could add 10% to the value of a terraced home, 9% to a semi-detached home and 9% to a detached home, it said.
