Improvements that Enhance Your Home and Add Thousands to its Value
Whether you are staying firmly put for the long term or looking to sell in the near future, there are some improvements that always make financial sense
People look to improve their property for all sorts of reasons. For some, it is a hard-nosed financial investment, aimed at proving the return on a property. Others need additional space but cannot face the upheaval of moving house. While for some, it is simply a case of wanting to do as the name suggests – improve their homes – and surely that is reason enough.
Whatever your own circumstances, Arsenal estate agents have seen how home improvements can have a huge impact on the values of properties in North London, and the same rules apply to Great Baddow too. Here, they have helped come up with some of the most popular types of improvement, and given an estimate of just how it might affect your property’s market value.
A loft conversion
It’s one of the most popular types of home conversion, as it adds an extra room without needing to physically extend. Best of all, most loft conversions do not require planning permission, although some do, so be sure to check. If you live in a semi detached or terraced house, the chances are you will need a party wall agreement from your neighbour or neighbours, too.
Converting your loft into an extra bedroom, study or child’s playroom can typically add around 15 percent to the value of the property, particularly if you are able to also fit an en suite up there.
The UK is conservatory mad – perhaps it is something to do with that British weather, that is often best enjoyed from behind glass. Back in the 1970s and 80s, conservatories were of indifferent quality, and were typically too hot in summer and too cold in winter. Today, however, it is a different matter. A modern, energy efficient conservatory makes an attractive addition to your living space, and is ideal for entertaining.
Like the loft conversion, a conservatory is usually considered a permitted development, meaning it does not need planning permission. But again, always check, as local authorities have different rules. A good quality, professionally constructed conservatory will increase your property’s value by around 10 percent.
Convert your cellar – or add one
We’ve discussed extending upwards and extending to the rear – that leaves one more direction – the only way is down. Many older town properties have cellars, and most of them are musty places that end up being used to store junk. That’s an enormous shame, as a cellar transformation can increase your property’s value by as much as 30 percent.
Converting a cellar from a storage area to living space is at most considered “change of use,” meaning no planning permission is needed. It is probably the simplest way to add big value to your home, making it all the more strange that so many cellars are lying there practically forgotten.
If you don’t have a cellar, it could be possible to add one. However, this is specialist work, requiring expertise in excavation, construction, waterproofing and other areas. You will also need to discuss it with your local planning office to check what permission you need.