Home extensions – space now .. value for the future

   

With ongoing discussion as to how BREXIT might affect house prices in the remainder of this year and beyond, home extension and renovation is very much on people’s minds due to house price uncertainty.

Extensions and Renovation can be said to offer two distinct advantages right now. They can mean not having to move house for more room – good news right now – and, of course, they can add value to a home for the future.

added value

We all want to know how and how much we can add to add value to our homes? After all, as homes expert Jennifer Louise Ebert of www.idealhomes.co.uk observes – “Our homes are an investment so, when it comes to property value, the question ‘how much is my house worth?’ This ‘value’ question is, of course, very much on people’s minds during these BREXIT troubled times. Read more here https://www.idealhome.co.uk/project-planning/how-to-add-value-to-your-home-73696

selling power

There are plenty of ways to increase the value of your home – from renovations, extensions and big decorating jobs, to smaller, more budget-conscious updates that will helps boost your homes selling power.

ceiling price

Key to remember as you consider revving up for a home renovation is that all homes have a ceiling price. So, of course, avoid over ambitious ideas! Although you may feel your new extension or renovation may well be worth doing even if it just makes your home a more comfortable place to live right now, ideally you surely want to try and make sure that you don’t end up losing money by doing renovations that don’t, in fact, improve the value of your home.

cost effective

A loft conversion is a most cost-effective way to gain extra living space and you should be able to do it if your home was built before 1975 and/or the loft has a maximum headroom of around 2.3m. Work on converting an attic can be wide ranging in terms of costs. These kind of changes can take about six to 12 weeks to complete. This configuration is a very most popular option and, according to a major Building Society, a loft conversion might add an estimated 21% to the value of your home.

modest prices

Extensions – a single storey side return or a glass ‘box’ extension a single-storey extension can be achieved at good modest prices and an addition of a second storey is good news in the value adding ‘stakes’

key factor

Now here’s a further key observation worth noting – and we at Mint always discuss this with our clients! Storage is often a key factor for buyers, and the practicalities of a well equipped kitchen space wise, in particular, can really have an impact on how favourably potential buyers view a house and how much extra value it can achieve. It goes without saying that a new kitchen is so often a no1 selling point and can add impressive value with the right design layout, light-filled outlook and considered ‘extras’

spruce up

After the kitchen, the next option in terms of added value and buyer appeal is a spruce up of the bathroom or adding a new en suite or a second bathroom. These options earn good percentage points in buyer interest ‘value’ observes a leading Building Society

impressively

Adding a conservatory can also raise a property’s value – quite impressively too – particularly if it’s part of a more far -reaching extension . This offers a great return on a relatively simple and cost-effective space-enhancing option.

momentum

There are some other improvement ideas that though more specialist and modest can also add to the momentum price build of your home’s value for the future – making your home energy efficient saves you money, as well as adding value to your home in the long run. Some sources estimate that an eco-friendly house can fetch up to 6% more than a standard one. Many of the eco-friendly home improvements you can make, such as adding insulation and fitting solar-panel heating, make a big difference to your annual energy bills and the size of the monthly bills is a factor for many buyers when they visit your home to consider buying it.

positive reaction

Last but not least, make that good first impression with your front door and hallway, to create an early positive reaction from a potential buyer. Starting off right foot is what its all about for sure.

Here’s a couple or so websites to review to stimulate your thoughts on improving your home:

For information on planning and building regulations, visit www.communities.gov.uk or www.scotland.gov.uk/topics/planning.

The Royal Institution of Chartered Surveyors (RICS), publishes a free leaflet called Extending your Home. It also offers a Building Cost Information Service.

For the Federation of Master Builders’ free booklet The Essential Guide to Home Improvement.

If you feel the need to beat BREXIT with a home improvement instead of a move, let us know how we can help you add value to your home right now.

Mint can help you get the extension you most need for your home. Refurbishment, improvement and extension – Mint offers a full development and finishing service to add value to your home and we’ll help with any questions or concerns you have.

Whatever your need request your ‘Extend Instead’ review or quotation to improve, refurbish or extend your home . Contact Mint Builders on 01242 279739 or email info@mintbuilders.co.uk