Kitchen and bathroom improvements are no surprise when it comes to adding the most value to a property. It is believed that a loft conversion can add up to 15% to the value of a home, while off-street parking, kitchen redesign, and garage conversion can all have a similar effect. Creating an additional room in the loft increases the sale price of the typical house by 15%, and it could be more if you also add an additional bathroom. You can make some changes to your loft space without planning permission, which will be more cost-effective.
It's estimated that off-street parking could add a whopping £50,000 to your home value, and this will have the biggest impact on major city locations. A new kitchen is a great way to improve your home, but you need to go big to add value. You can expect to add 15% to the value of your home. It is believed that a garage conversion could add up to 15% value to your property, while creating a basement can add between 10% and 15% to the value of your home.
Open-plan living space is a trend that won't go away anytime soon, and it is believed to add between 3 and 5% to the value of your home. Fixing the bathroom can add between 3% and 5% to the value of your home. Transforming an existing warehouse into a living or storage space can increase the value of a property by up to 30%, as long as the construction cost per square foot is less than the price per square foot of the area. An additional bedroom can add up to 15% to the value of your home, especially if it's a loft conversion with an en-suite bathroom.
Most lofts can be converted, but it's worth having an architect or builder check before starting. A decent makeover that fixes the front of your home will potentially add between 2% and 3% to the price of your property. Adding an additional floor and more square feet can increase the value of a property by up to 30%. This type of project has the potential to add 15% to the value of your home, and in some cases, high-quality work in a bungalow could add up to 30%.
Changing your bathroom could add between 8% and 10% to the value of your property. When making changes to increase the value of your home, start with your kitchen and bathrooms as these areas are more likely to have the highest return on investment. Simple changes can substantially affect the value of your home, but some homes on certain streets simply won't gain any additional value no matter how luxurious you make it. Despite this, large-scale home improvements such as installing an additional floor or creating an open-plan living space can still add potential value.
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