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Bespoke Norfolk Group

Does an Extension Add Value to Your Home? [2024 Update]

As time goes on, our lives change, which means we may end up wanting more out of our properties. Whether that is needing an extra bathroom as your family grows, or wanting more bedrooms so you can have guests stay the night more often; whatever your requirements may be, have you thought about extending your home?

Building an extension onto your property is a great way to give you more space within your home or add the extra facilities you need without having to move house. As well as this, a good extension can add a decent amount of value to your home. 

 

How Much Value Does an Extension Add?

You may not be surprised to hear that we cannot give you a precise percentage of added value. That’s because every extension project is different. But here are some figures to help you out.

So how much value does an extension add? Let’s take a look at the two most common types: single and double-storey extensions:

  • A single-storey extension could add 5-8% value to a property
  • A double-storey extension could add 10-20% value to a property 

Keep in mind that the above is a general guide. The answer to how much value your extension project could add to your home depends considerably on several factors, such as size, style, quality and complexity. 

The answer is also dependent on what you will do with the added space achieved with an extension. For example, a double-storey extension that adds an extra bedroom and bathroom to your property will be much more valuable than a small single-storey extension.

If adding value to your home is your main goal, then there may be other options that may be more suitable to you. For example, a loft conversion could add up to 20% value to your home. This is an extremely popular form of conversion due to its affordability and the fact you are utilising all of your properties space, without having to extend.

While a single-storey extension could mean less value than a loft conversion, it is still a great option if you’re looking for a more open-plan living situation with the bonus of some value being added to your property.

If you are interested in a loft conversion or home extension for your home, Bespoke Norfolk Group in Norfolk offer both services. We have the experience and skill to deliver exactly what you want out of your property. 

 

 

Does The Quality of Extension Matter?

This is possibly the most important aspect of building a new extension onto your property. A good quality extension will indeed add value to your property. But a poorly built extension that does not comply with building regulations can actually lower the value of your property, rather than increase it. 

Using home construction professionals, like our Norfolk construction company, to build your extension means you will you receive a quality build that will add value to your home. 

 

 

Final Thoughts

Among other benefits, extending is a great way to add value to your home. However, it is important to consider important factors before committing. If extending is part of your selling plan, then make sure the build cost is less than what you will gain in value and be sure to use reliable people for the job.

Here at Bespoke Norfolk Group, we offer a range of services that can increase the value of your home. If you would like to hear more about what we can do for you and your property, please feel free to contact us today.