As the old property adage goes, ‘add rooms, add value’, and, unlike many clichés, there is actually some substantial truth in that – just as much as the whole ‘location, location, location’ idea. However, with the costs of extensions and loft conversions sky-rocketing, how best can this be done in order to maximise your return – and make the most of your house for you and everyone else who lives there?
A Big Investment
Firstly, remember – your home’s monetary value is not the be all and end all. Any improvements made need to be beneficial to you and your family first and foremost. For example, a high tech professional chef’s kitchen and new en-suite with a whirlpool bath and integrated television would cost several thousands and it’s highly unlikely they would add a great deal to your home’s value – so unless you know for sure that they’d enrich your life, they’re not likely to be a wise investment. Secondly, there’s a lot to be said for making a house more saleable, as well as upping the potential asking price – after all, a house is only worth what someone will pay for it, so it needs to have an advantage over any competition – and this is where a bit of extra space or another room can make all the difference.
A Wise Investment
According to experts, a loft conversion adding an extra bedroom could add as much as 10% to the value of a house, while a skilfully-done extension, in keeping with the style of property and the neighbourhood would of course vary according to size and rooms added. However, both these improvements can be very costly indeed – as much as £40,000 for the loft and ‘the sky’s the limit’ for an extension – and that would need to be offset against any added value. As well as the financial cost – plus interest accrued if added to your mortgage, as such outlays often are – such work is very time-consuming, can be disruptive and messy and will usually require planning permission (which in itself is time consuming).
Considering a Conservatory
An airy, bright conservatory, however, can be exceptionally good value, adding an entire new ground floor room – be it another reception room, a playroom or a dining room – for far less money than an extension, and could boost your property value by 5%. The work tends to be less intrusive and full planning permission isn’t usually necessary – depending on the size of your conservatory and any existing development, work can often be completed under permitted development.
Choose the Best
Companies that are highly experienced in offering quality conservatories, such as Phil Coppell, with a nationwide client base are your best bet when looking for a bespoke conservatory supplier, with fitters who go the extra mile. A good choice would be choosing a company that specialise in classic and elegant conservatories with attractive solid roofs – adding a perceived permanence and a real ‘room’ feel to your all-year-round living space. You’ll also want a supplier who will work with you to choose a style and size to really enhance your home – be it lean-to or orangery style, contemporary, Edwardian or Victorian – the right conservatory will add a beautiful and practical space to add considerable value to your home.
