How do I add value to my home? Extending and/or renovating adds two kinds of value to your home. Firstly, it increases your property value, and by this we mean increasing the monetary value of your property. It also makes your home personal to you, creating a space which fits your personal style and day to day dynamic. Sound too good to be true? Well, we won’t lie to you, extending or undertaking a large renovation is a big job. With that said if you have a reliable and knowledgeable company to guide you through the process it becomes much easier. Here at Home Tales, we make the process as easy and seamless for you as possible and are on-hand to guide you with as little, or as much, as you would like. With the UK property market as unstable as it is, we appreciate that it is a tough time to move or a difficult decision to pull equity out of your house to renovate or extend. With that said, the value that an extension can add on to your property could well make it worth it in the long-term. We thought we would talk through some of our projects including the costs within, to help you understand more about the process. How much will an extension add? It’s difficult to give an exact figure on how much an extension will add, and there are lots of speculative figures on the internet. Nationwide estimates that extending a standard three-bed with an extra bedroom and bathroom (with a loft conversion) can increase the property value by 23%. The main areas to consider is how much you spend and what the return on your investment will be. If you opt for a bespoke design which doesn’t think about your future buyer, it might reduce the value increase. Likewise, if you choose very expensive fixtures and fittings, you are increasing the cost of the build, thus reducing the potential profit in the end. Lots of our clients shows us pictures of bespoke glazing or extravagant features and of course they can absolutely be included, but you should consider the long-term gain of those items. Loft conversions are the most efficient if you want to increase the value of your property. They are generally cheaper than ground floor extensions and they tend to add more value as they add bedrooms. Ground floor extensions are still game changers when it comes to property value and the right design can do wonders for your home. It’s also important to recognise that extensions have a knock-on effect to the flow of the rest of the property. If you turn a 3-bed into a 5-bed, you will likely need more living space downstairs to accommodate the larger household. Ground floor extensions also offer the opportunity to give a property that ‘wow’ factor with features like skylights, full width glass doors, exposed brick walls and underfloor heating. A loft bedroom is a bedroom, they are limited in what can make it special. A ground floor extension has a world of possibility. So, while they might not add more from a SQM rate perspective, they can certainly make or break the sale of a property. Additional features Extensions are obvious choices if you want to significantly increase the value of a property. With that said, minor reconfigurations or smaller tweaks can also give a good return on your investment. Ground floor WCs are hugely popular in properties. Period properties did not traditionally have a bathroom on the ground floor, but they are a popular feature in modern households today. Utility rooms, pantries and cloakrooms are more popular items which families appear to prioritise more and more. Kitchens can be transformed by simply replacing the facades of the units. If you like the features that come with extensions but don’t need more space, you can simply opt to install bi-fold doors or additional glazing into your existing space. The job is much smaller than a full extension, but you can include those ‘wow’ factors within. Here at Home Tales, we really believe in taking the time to sit down and discuss design options you in person, so we can fully understand what you are looking to gain from the space. We help guide on budgets and costs throughout the process to ensure we are designing an extension which fits your requirements, both from a design perspective but also for your budget and return on investment. If you want to discuss your project in more detail, get in touch with our friendly team today on 0207 043 2378. We would love to discuss your ideas in more detail. We offer free no obligations consultations as a first step which enables us to issue you with a quote for the works. They take anywhere from 10 minutes to an hour. Book yours today via our live diary. We look forward to learning more about your project!