A house doesn’t just have to be a home, it should also be thought of as an investment. When thinking about buying a new house we’re not only thinking about what we currently need, but we’re also thinking about our future.
A house should be bought with a spare thought of how you can also increase the value of the property in case one day you choose to leave it to your kids to invest in, or decide to sell it on.
If you’re interested in adding some extra value to your house, you should consult our team based in Cornwall for our Structural Design Services, we’d be happy to help with any enquiries and advice.
Loft Conversion
You can increase around 15% of your initial properties value just by converting your loft into a bedroom. To ensure the value increases by 15% you should consider adding an ensuite, this can support the increase in value.
You’ll need to thoroughly plan out what types of conversions are available options for you. It’s worth getting a structural engineer to double-check before commencing with conversion.
You can check out our blog post on loft conversions for more information, or you can contact our team of charted surveyors for advice.
Add a Conservatory
They’re a wonderful way to feel closer to nature that enhances the light with added space. Conservatories can even add an additional value of around 10% to your overall property value.
Conservatories require a lot to think about – these considerations include certain factors such as what kind of glass, frame and roof to choose from too. The options are abundant – in terms of glass, you can opt for solar control glass or even self-cleaning glass.
You also have an option of what frame to choose too, the material of the frame will affect the quality of the conservatory as each offer different attributes, so make sure to ask for advice when considering your conservatory.
Conservatories are considered permitted development, but this is provided that you meet the limits and conditions. Building regulations are a completely separate matter. Most conservatories will be exempt from this, but there are some exceptions to the circumstance where you will need to make an application.
Convert your Cellar
Create more storage space to increase the property value but nearly a third. Just by recreating a living space or more storage, the property price can rise by 30%.
There is a slight catch to be wary of before you start the transformation. The build cost per square foot will need to be less than the price per square foot of the area.
The good news is that converting cellars is one of the least complicated projects in regard to home improvements, not to mention it yields the highest increase in property value too.
You won’t need to apply for planning permission unless of course, you are intending on making structural changes to a listed building, then that is a different matter.
If you don’t have a cellar you might want to think about building a basement. However, this will call for a group of specialists, you’ll need to find an assortment of professionals such as excavation contractors and structural engineers.
At Martin Perry Associates we’d be happy to help you create or convert your cellar space. Our Structural design services will be able to answer any questions or queries you may have.
Split Your House into Flats
If you’re looking for an increase in property and you’re not living there then this might be something to think about. Splitting your house into flats can increase your property by 30%.
Flats are in high demand and highly sought for by young professionals. It’s a great way to maximise rental income and implement more profit for future sale.
Before commencing the conversion be sure to do some research and understand the demand in your area. If you’re based near a university or town centre you’re likely to encounter a higher demand, you will also need to consider what kind of flats people are looking for such as three bedrooms or smaller.
Add an Extension
When a well thought out extension is added to a property it can easily add about 15% to the initial property value. Extensions are a wonderful way to introduce more space and light to your home that will pay off in the long run.
There are some important factors to think about if you choose to add an extension to your home, as an ill-thought-out concept that does not compliment the original proportions of the property can contribute to an over-sized, visually unappealing or badly placed extension that could devalue the property.
Keep in mind the space involved with not just inside the extension but also the exterior too, you want to keep a balance between the two.
Renovate your Kitchen
By renewing your kitchen you are inviting up to a 20% increase in property price. Although it may sound like a big investment, it is possible to buy a new kitchen for £4,000.
A golden rule to keep you in your budget and ensure profit is to only spend an amount that is in proportion to the original value of the property.
When deliberating on the plan of your kitchen, think about how you can incorporate more space and light. Open plan designs are highly sought after, so instead of focusing on extending the property, why not knock through a wall to create a kitchen diner?
We hope you have found value in this article that will increase the overall price of your property. If you find yourself in need of Structural Design Services, you can contact our team at Martin Perry associates for more advice, or you can check out our website packed full of useful information.
