DOES AN EXTENSION ADD VALUE TO YOUR HOME?
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?
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.
That all being said, there are several factors to consider before we can begin to answer this blog title question.
How Much Value Does an Extension Add?
Unfortunately, this question is not so easily answered. The answer depends considerably on a number of factors, such as size, style, quality and complexity.
Though, to get a better understanding here is an example. According to Checkatrade, a 3-bedroom house that has added a two-story extension, including a bedroom and en-suite bathroom, will see a 10-12% added value to the property.
It is still important to do your homework on this factor before committing to anything.
If adding value to your home is your main goal with a new house extension, then there are some options that will be more valuable to you than others. For example, a loft conversion, on average, 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.
Whereas a single-storey extension would see an average added value of around 5-8%. Less value, as opposed to a loft conversion, but a great option if you’re looking for a more open plan living situation – with the added bonus of value being added to your property.
If you are interested in loft conversion or single-story extension for your home, Bespoke Norfolk Group offer both services, we have the experience and skill to deliver exactly what you want out of your property.
Quality of Build
Perhaps 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 Bespoke Norfolk Group for your extension means you will receive your very own project manager, who will ensure you receive a quality build that will add value to your home.
Among other benefits, extending is a great way to add value to your home. Though, it is important to consider the 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. 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.