Best Ways to Add Value to Your Property (Conversions & Extensions)
Are you thinking of adding the best value to your property? There are many ways out there to increase the value of the property, whether you plan to sell it or not. The best and most popular way to add value to the property is through conversions and extensions.
Converting or extending your property can offer numerous benefits, including additional living space, increased functionality, and added financial value. However, it is very important to understand what all options are available and which one can provide the best ROI. Here, we’ll explore some of the best ways to add value to your property through conversions and extensions, so you can make an informed decision about increasing the value of your home.
1.) Loft conversions
A loft conversion is quickly recognised as one of the popular ways you can increase your property value. An unused attic space can be transformed into an attractive living space. By doing so, the additional living space not only increases your property value but also provides additional space for your guests or family.
One of the advantages of loft conversion is that it is not necessary for your house to undergo huge structural changes. Compared to other renovation types, loft conversion tends to be more affordable. Lucky for you, a well-designed loft conversion typically improves the aesthetic quality of your house and adds more natural light.
Improving insulation and minimising heat outflow is an effective way to boost your home’s energy efficiency and reduce energy costs and energy usage. This can be reflected in the reduction of your utility bills and a smaller environmental impact. A loft conversion will provide both financial and practical benefits to your home.
A conservatory can be used for an assortment of purposes, including to be used as a dining area, extra living space, or a home office. It provides an invigorating atmosphere with plenty of natural light, which can make your property appear larger than it actually is.
Not only does it provide additional space in your home, but adding a conservatory extension can also increase the total value of your property. According to various studies, homes with conservatories have been shown to sell for up to 7% more than those without one.
When deciding on the addition of a conservatory extension to your house, you should think about matters that may affect its resale value. For example, the size and design ought to be appropriate for the style, size, and layout of your home and garden. Additionally, ensure that you obtain any necessary planning permission from local authorities before beginning construction or risk facing potential legal issues down the line.
3.) Garage conversion
A garage conversion is an excellent way to add value to your property, especially if you are looking for more living space. A garage can be modified into a bedroom, office, fitness centre, or recreation area. The process of converting a garage involves insulating the walls and ceiling, installing new flooring, and adding windows for natural light.
Converting a garage often costs less than building an extension. If your garage is attached to your house, the cost of installation will be lower because utilities such as electricity and plumbing are already in place. Moreover, depending on local zoning laws and regulations, permits may not be necessary when transforming a pre-existing structure like a garage into additional living space.
Before you decide to convert your garage into usable living space, it’s crucial to consider the possible repercussions of this transformation on resale value. Typically speaking, converting a well-maintained one or two-car garage can add between 10-20% to the overall value of your home which makes this type of conversion worthwhile since it increases both functionality and aesthetic appeal – all while increasing its worth!
4.) Basement conversion
A basement conversion is another great option to enhance the value of your property. Whether you want to create an extra bedroom, home office, or entertainment space, converting your basement can give you the extra square footage you need without having to move. Before starting any work, it is important to ensure that your basement is suitable for conversion and meets building regulations. In addition, consider adding features such as insulation and ventilation to make the space more comfortable and energy-efficient.
One of the benefits of a basement conversion is that it can increase the worth of your home by around 30%. This makes your basement conversion worthwhile for those looking to sell their home in the near future or simply looking to get a greater value for monetary factors.
Consider the ways you’ll be using your converted basement, as well as the features that are required. If, for example, you plan to use it as a guest room or rental unit, consider adding a bathroom and kitchen. If, however, you intend to use it as a home theatre, think about installing soundproofing and mood lighting. By tailoring the design of your basement conversion specifically for your needs, you can ensure that it adds maximum value both practically and financially.
5.) Rear extension
A rear extension is another popular way to add value to your property. It involves extending your home outwards towards the garden, allowing you to create more living space in your home. A rear extension can be designed and built to suit your specific requirements, whether you require a larger kitchen or an additional bedroom.
One of the benefits of a rear extension is that it can greatly enhance the natural light in your home. By adding large windows and skylights, you can bring more natural light into your living spaces, making them feel brighter and more spacious. Additionally, a well-designed rear extension can help increase functionality by creating an open-plan living area that allows for greater flexibility and flow.
When considering a rear extension, it’s important to consider how it will affect the overall layout of your property. It’s also important to ensure that any planning permissions required are obtained before starting construction work. However, with careful planning and design considerations, a well-executed rear extension can provide significant value to your property while also enhancing its liveability for years to come.
In Conclusion, adding value to your home with conversions and extensions is a good way to raise your home’s value. With the right planning, budgeting, and execution, you can transform your home into a dream space that not only meets your needs but also enhances its value.
It’s important to consider the costs of such renovations and weigh them against the potential return on investment. Look for cost-effective ways to make improvements that will bring significant value, such as upgrading outdated kitchens and bathrooms or adding energy-efficient features.
Ultimately, adding value to your property is an investment in not only your current quality of life but also in its future worth. With careful planning and strategic upgrades, you can create a home that is both comfortable for you and appealing to potential buyers if you ever decide to sell.