4 Ways House Extensions Can Add Value to Your Property
Extending your house is an almost sure-fire way to add value to your property quickly and effectively. You can improve functional, liveable space, add more aesthetic appeal and get potential buyers’ attention with improved street appeal. But there are some blunders that need to be avoided to make sure you don’t end up decreasing the value of your property.
How House Extensions Can Add Value to Your Property
Extending your house can completely change the feel of your home – for the better or for worse. Make sure you’re doing the right things to add value and avoiding the typical house extension blunders that decrease its value.
1. Improve Street Appeal
If you live in a typically high-priced neighbourhood, but your home is less appealing than those around it, you can bring your house up to standard by adding an appealing façade. This kind of house extension is relatively inexpensive compared with the substantial returns it attracts.
2. Increase Functional Space
The more bedrooms a property has, the higher the value of the home. Because bedrooms don’t normally require extra plumbing work, adding bedrooms to your home is a quick and fuss-free way to increase value. Look at the house prices in your area to check whether houses in your area are typically priced a lot higher when they have one more bedroom than your home does.
Renovating existing functional spaces like the kitchen and bathroom is also a great way to add value without undergoing a full house extension.
3. Add Aesthetic Appeal
You might choose to extend an area to let in more natural light, or to take advantage of a good view. Adding dormer windows to a pitched roof, for example, is a cost-effective way to add aesthetic appeal from both inside and outside the house while increasing space and natural light. Other not-too-drastic house extensions could include creating a better indoor-outdoor flow from the kitchen or living area to an outdoor entertaining area.
4. Add Lifestyle Appeal
Extending your house doesn’t have to mean building a whole new wing. It can be as simple as adding an ensuite to the master bedroom, a light-filled walk-in wardrobe, or getting rid of an awkward wall. Modern homes are sought after for their relaxed open plan living arrangements – if you can achieve an open plan living area through house renovations or extensions, this will immediately add value to the property.
Even small, cosmetic home renovations like updating the fixtures, light fittings and décor adds a significant amount of value to the house.
What Not to Do
- Don’t add any house extensions that mean you have to get rid of a bedroom. Losing a bedroom will immediately decrease the value of the property.
- Be aware of the impact of the extension on the yard. If you have to take up a significant section of the yard to add a minor extension it may not be worth it.
- Make sure the house extensions blend in with the current design and décor.