dcsimg Which Features Add the Most Value to Your Home? - WeBuyAnyHome

Which Features Add the Most Value to Your Home?

We all know that one way to boost the sales value of our home is to make it look its best. However, whilst giving the garage a lick of paint and popping down some new carpet are quick affordable wins, substantial investments into your home can really boost valuations should you choose to sell in the future.

The majority of extensive home improvement projects can add around 5% to 30% onto the value of your home. The general rule of thumb is the lengthier the renovation, the more additional value you receive.

Whether you are a property investor or residential renovator, the projects below could boost the value of your property significantly.

Basement conversion

Additional percentage: up to 30%

Anybody with a redundant cellar or basement would benefit greatly from this renovation project as it provides the greatest potential return. Changing a cellar into a liveable space, such as an extra bedroom or children’s playroom, is considered a ‘change of use’ and there is no need to obtain planning permission from the council for this type of conversion. The council would only need to be contacted if a kitchen was being fitted.

Kitchen extension

Additional percentage: up to 15%

Side return extensions are one of the most common domestic building projects and are mostly used by people wanting to extend their kitchen or input a utility room. Both options are extremely attractive to potential buyers and could add an additional 15% on to the value of a home.

Loft or garage conversion

Additional percentage: up to 15%

Adding an extra bedroom to a property will increase its value, but most sought-after are loft and garage conversions which are essentially studio spaces; large bedrooms with en-suite facilities. These are fantastic for older children or elderly relatives living in a family home who need a level of privacy.

Whilst loft and garage conversions do not need planning permission, it is best to get an architect or builder on board to ensure the plans are doable and safe.

Other great options for a loft or garage conversion include guest bedrooms, snugs, play rooms, cinema rooms, studies and gyms.

Planning permission

Additional percentage: up to 10%

If you don’t have the money to invest in your home, obtaining planning permission will boost the value of your home up to 10%. Whilst there is usually a fee involved, it is less expensive than building projects and is free if your home is a listed building. Many buyers will pay more for a property already granted planning permission as it saves them from completing the process themselves and potentially being knocked back.

Conservatories

Additional percentage: up to 10%

Whilst a modern conservatory that leads out onto a garden can boost the value of a property by up to 5%, double story extensions which create a conservatory and additional room above can increase this to 10%. Another bedroom or a study are popular choices.

Exterior and garden improvements

Additional percentage: up to 10%

Kerb appeal is a real thing; would you consider buying a property with a worn front door and weed infested front garden? Whilst buyers could sort these issues themselves, it will knock down the price they offer you.

Making sure your windows are clean and the exterior of your home is fresh and tidy is key. Along with mowed lawns and neat flowerbeds, you could see your efforts adding up to 10% to your property.

Open plan living

Additional percentage: up to 6%

Open plan living spaces are the ‘in thing’ and buyers are willing to pay extra to save themselves from knocking down walls and getting the builders in. Open plan living spaces make spaces appear larger and lighter – undoubtedly an attractive feature to many buyers. Opting to make your living spaces open plan can top up your sales value by 6%.

New bathroom

Additional percentage: up to 5%

Bathrooms with tired shower curtains or avocado suites are a major turn-off for potential buyers and estate agents will chip cash off the valuation they give you. Whilst bathroom revamps can be expensive and interrupt life, a modern suite will add up to 5% on the sales value of your home.

Value Increase

To put percentages into practice the table below contains an example based upon a property valued at £300,000.

Action Additional Percentage New Value (based on a property valued at £300,000)
Basement conversion 30% £390,000
Extend kitchen 15% £345,000
Loft or garage conversion 15% £345,000
Obtaining planning permission 10% £330,000
Conservatory with extension 10% £330,000
Revamp exterior and garden 10% £330,000
Open plan living space 6% £318,000
New bathroom 5% £315,000

 

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