Recently here on this blog, we highlighted key information from the ever helpful Home Owners Alliance on ways to add value to your home by considering a home extension, refurbishment or renovation.
The information emerged after they asked over 300 members of the Federation of Master Builders (FMB) and estate agent members of the of Property Professionals, which projects really can add the best value to today’s homes.
We have thus far, already highlighted the key front runners, such as knocking down walls to create open plan living; a kitchen re-furb or renovation and extension, a garden room and two bathroom-type improvements – namely a downstairs cloakroom or a bedroom en-suite.
Next on the HOA guidance advice and bright ideas is creating a car parking space Or sure we all like a green front gardens but if parking is at a premium in your neighbourhood then paving over part of your front garden to create space for off road parking really could significantly boost your home’s value
A parking space can add as much as 13% to the value of your home according to Direct Line, which is not bad at all! Adds the HOA “Our research found that a new driveway would add £13,354 to the value of the average Surrey property.”
We at Mint have come across some impressive figures too on our ‘beat’ around Cheltenham and the Cotswolds and it is a fact you’ll need to check with your local council to see if you need planning permission to do this. Usually, if your home isn’t on a more major A or B road then you won’t need permission. You will have to comply with your local authority’s regulations on dropping the kerb though.
A further ‘value adding’ target for 2020 is a ‘spruce up’ of the garden The HOA are right they gardens are often overlooked when property projects are concerned but ploughing some money into your green space can be rewarding.
We at Mint are aware, the garden has proved to be a key value adding factor in large parts of our area and wherever the location it seems adding decking and lighting to your back garden can really boost the asking price when a property goes on the market. Quote the HOA recent research “a property in Dorset would be worth £8,946 more after the a smarten the garden job was done but would only require an outlay of less than half that’ .
Next to consider – and many of you do already of course, is the home interior. If you are planning to put your property on the market make sure you give it a fresh lick of paint first – quite right! Getting professionals in could set you back around £1,000 maybe, but it could add £5,000 to your home’s value, and that’s from TV’s very famous property expert Phil Spencer no,less, the HOA report.
Also included in the HOA ‘added-value’ guidance and advice schedule was a bumper opportunity to add hugely substantial value to a home reference loft conversions. TV Property star, Phil Spencer followed up interiors advice above with advice that Loft conversions which might cost around £20,000 on average, could boost a home’s value by £40,000!
And finally, a clear further thought on adding home value. The HOA suggest the quite modest step of sorting out some key project planning permission can be valuable too. If you are preparing to sell your home, they say, and can’t afford a big project to boost the value, you could consider just getting key project planning permissions.
Say the HOA “Buyers are prepared to pay quite a premium to avoid the paperwork involved in an extension and to know red tape won’t stand in the way of their plans and allow them to start works the minute they pick up the keys. Submitting a basic planning application costs up to £400 but could add as much as 10% to the value of your home, according to insurance firm Hamilton Fraser.
Refurbishment, improvement and extension of your home. Mint offers a full development and finishing service to add value to your home. We are here to help with any questions or concerns you may have. We have all the expert contacts on hand to help you. 6
Whatever your need, please request your quotation to improve, refurbish or extend your home . Contact Mint Builders on 01242 279739 or email email@example.com