With interest rates spiking it’s not surprising that lots of homeowners are looking at ways that they can increase their homes value and/or space instead of moving house and buying new. Here at Home Tales, we specialise in home extensions and our expert design team always design with this in mind. We tailor designs to you and create bespoke extension designs after understanding what your requirements are. A very common must-have amongst our clients that they want a return on their investment. We thought it would be helpful to run through the different types of extensions and how they can boost your home’s value. 

Kitchen extensions 

Kitchen extensions are most commonly found on the ground floor of the house; particularly in London where there are lots of Victorian and Edwardian terraces and semi-detached houses. According to LivingUK, a kitchen extension is estimated to add around 20% to the value of a property. Let’s get some perspective on that – if we take the average mid-terrace property value for SW18, that would be £1,200,000. 20% of that figure is £240,000, which means a kitchen extension is likely to boost the property value up to £1,440,000. A typical kitchen extension is £70-80k + VAT, although that does vary on the final size and specification of the chosen extension.

We also have a fantastic gallery which discloses the build cost of each project. This is great for putting things in perspective and understanding the different costs associated with the different projects. 

Loft conversions

LivingUK estimates that a loft conversion adds around 15% to the value of a home. Onthemarket and Nationwide suggests it’s more like 20%. Let’s assume it’s the latter for simplicity. If we take the calculations discussed in the above paragraph, we can assume the value increase would be £240,000 again. Lofts are typically cheaper to design and build in comparison to ground floor extensions. They also have less risk of unexpected items coming up, because it’s simpler to add a box on top of a property rather than digging down into the ground. In this case, loft conversions win the race for ‘best extension to add value’, as they would appear to add the same as a kitchen extension and they are less risky and cheaper to build. 

Loft conversions can also add a huge footprint to the SQM rate of a property. Kitchen extensions tend to be more limited as they are adding to an existing footprint. Lofts are generally unused space, so you are literally an entire new floor to your existing property. We added a massive 31SQM to this mid-terrace family home in Wandsworth. We added two double bedrooms and a bathroom with an l-shape dormer extension, taking the property from a modest 3 bed to a spacious 5 bed. 

First floor extensions 

Although it’s not the most popular type of extension, we do design and build first floor extensions too. It’s most common to have a first floor extension paired with a ground floor extension, with the intention to maximise space by adding an additional bedroom or bathroom to the first floor. LivingUK estimates that adding a bedroom to a property can increase the value by 10-15%. They estimate that adding a bathroom adds around 5-10%. If you were adding a modest first floor extension in addition to a ground floor extension, you can expect the additional cost to be £15-20k (in addition to the cost of the ground floor extension). Planning permission can be tricker to navigate for first floor extensions, so it’s important you have a knowledgeable planning expert to advise you. We have a great planning team who can advise you of your options. 

Lavenham Road, SW18 

Our client shared some statistics with us after we renovated and extended this home in 2019. When purchased, the property needed extensive refurbishment. The 3-bed mid-terrace was purchased for £825k. We designed and built a side return extension and an l-shape dormer loft conversion. The side return extended the kitchen and transformed the once narrow room to a spacious and bright kitchen and dining area. The loft conversion added 2 bedrooms and a bathroom, taking it from a 3-bed to a 5-bed. The rest of the works were reconfiguration and refurbishment. Our recommended builder took the property back to brick and re-did the entire electrics, plumbing and plasterwork. The property was valued at £1,200,000 after the work were complete. The total cost of the build was £150,000. 

Here at Home Tales, we are dedicated to designing practical, cost efficient, bespoke home extensions that revolve around you and your lifestyle. We advise you on budget throughout the design phase, and we even have a recommended builder who can help guide you on build costs too. 

If you want to discuss your project in more detail we would love to speak to you. Call us on 0207 043 2378 or email us at hello@hometales.co.uk. We offer free telephone consultations which enable you to understand more about the design and build process. During the call we discuss your project which enables us to issue a quote for the works. You can also book a consult via our live diary here.