MoneyMagpie

Aug 31

Four ways to add value to your home with an extension

Many homeowners are looking for the best ways to add value to their property and, undoubtedly, one of the most effective ways of doing this is by extending it. But there are many different ways to extending a home, so what are the options?

Of course, the obvious answer to this question might be: just build an extension. But it’s worth remembering that extensions that will be used either as a bedroom, living area, kitchen or bathroom will require a great deal of expensive work to be fit for habitation. Here we are looking for the ways that you can extend a property to add value.

 

Garage extension

One of the most popular ways to add value with an extension is through the addition of a garage. With families now typically requiring more than one vehicle, and parking spaces becoming increasingly limited, a garage can help you solve these problems. But beyond the challenge of parking, your garage also comes with other benefits – it will reduce the cost of your car insurance, and it will provide with additional storage or living space.

A garage will not typically require the same level of expense as extending for a living space as there are fewer needs for the garage – it will not need to be kitted out for human habitation. Nor will it need any complex plumbing or electrical work carried out, as you would if you were creating an extension for with a new kitchen or bathroom. For more information, take a look at this helpful guide to planning a garage extension.

 

Conservatory

Building a high quality conservatory can add significant value to a property. It’s essential that you build your conservatory in a way in keeping with the rest of the home. A great example of this is you should use the same carpet or flooring so that style matches the surrounding rooms.

Conservatories can be built relatively cheaply – perhaps for as little as £5,000 – but they can add more than 10 per cent on the value of a home.

 

Four ways to add value to your home with an extension

Conversion

While not quite an extension per se, it is possible to carry out a conversion on your property in order to turn a wasted space into something usable. One of the most popular options is the loft conversion, and if you currently have loft space that is used for storing rarely-used item, this can be an extremely cost effective way to add a huge amount of value to the property.

Typically loft conversions can be used to create a new bedroom – perhaps even with an en suite – consider the house prices in your area and think about the difference that an additional bedroom and bathroom would make to the sale price. Also consider that loft conversions can be achieved from as little as £20,000.

If you don’t have a loft, perhaps you have a basement. Once again, a basement can be converted into a usable space that could be a bedroom or a lounge – although this sort of conversion typically costs more than one in a loft.

 

Mezzanine

If you have a property with very high ceilings, you may be in a position that you can use the mostly wasted space at the top of the room. As a rule it is possible to have a mezzanine installed if the height of the ceiling can be halved, and each half has a height of at least two metres. This means a ceiling height of over four metres – and if you have such a space, it would be unwise not to you it, as there is so little use for very high space in a room.

To have a mezzanine built will naturally mean paying the expense of making structural changes as the new mezzanine floor will require support, as well as considering the placement of a staircase. However, remember that the cost involved to put a mezzanine in place will be far lower than creating the same amount of space with an extension.

Additionally it’s worth remembering that it will save you time and hassle. There will be no need to apply for planning permission, unless it’s a leasehold flat or it is a listed building. Of course it won’t be possible for all homes to build a mezzanine, but for those that can it can function as a bedroom, a library or a relaxation space.

Compare Current Accounts

WHAT DO YOU THINK?

Leave a Reply

avatar
  Subscribe  
Notify of

Related Articles

Experian Financial Control
 

Make Money and Save Money

ideas for everyone
 

Send this to a friend