If you are planning on renovating your home to add more value then have a look at the blog below, we have highlighted the top 5 renovation projects which can do exactly that!
- Single or Double Storey Home Extension
Potential Value: 15% – 23%
A well designed home extension could provide one of the best assets to a property that is in need of a proper makeover. This would not only make the space feel more spacious but also stylish and modern. With the right Architect on board you will be able to design the perfect extension which not only enhances your living environments but also adding significant value to your current home.
Many home extensions can involve adding extra space to the kitchen space or the living room, which will help provide an open plan layout and also modernise your home.
- Loft Conversion
Potential Value: 15%
From a survey conducted by Halifax, adding a loft conversion to your house offers the best value for money when it comes to renovating your home. A new room in the loft can also increase the usable floor space of your house by up to 30%.
With the right design professional you will be able to produce the perfect design which could help you bring value to your home and most successful loft conversions are the ones which appear to be an integral part of the house, for example; a study or a cinema room.
- Kitchen & Bathroom Revamp
Potential Value: 10% (Kitchen) & 5% (Bathroom)
The second best renovation to carry out according to Halifax survey is a modern fitted kitchen space. As the kitchen space nowadays considered as the heart of the home, enhancing this space can increase the overall value of your home by 10%. Small design alterations during a kitchen renovation such as removing a wall to make the kitchen more open plan could cost around £3,500 but could add over £45,000 worth of value to properties in London. Small kitchen improvements such as replacing existing flooring, worktops and cabinet doors can defiantly enhance the overall look of the kitchen by making it more modern and stylish.
Another small but profitable renovation you could carry out for your home would be to revamp your bathroom. A new bathroom could increase the value of your home by 5% and if you are thinking of carrying out a full makeover, we recommend adding a modern rain shower and underfloor heating.
- Garage Conversion
Potential Value: 15%
If you own a garage that isn’t been used to store your car and are left empty then we feel these spaces could be easily converted into habitable space for your family. Garages could be used as additional bedroom rooms, games rooms, home offices or our favourite a home gym.
Many garage conversions fall under permitted development therefore meaning you may not require planning permission for the work, we recommend contacting your local planning office to ensure this is the case. Once converted your new garage space could increase the value of your overall property by 15%.
- Divide a house into flats
Potential Value: 30%
If you are a developer or thinking of climbing the property ladder by carrying out a full renovation, you may want to consider the potential of splitting your property into flats.
This renovation project could provide significant returns on your investments as many popular parts of the UK are in high demand for flats giving you the options to generate valuable rental income. However, before you begin your building renovation journey, we recommend doing some background research on the area where the building is situated to find out the demand for rented properties as this will determine the outcome for your investment.
The best way to gain as much value as possible is by pairing up with the right architect. They will have the correct expertise to ensure your home renovation meets current planning laws while delivering a service which is appealing to future buyers. To find your local architect, post your project here.