Which home improvements will boost your property’s value?
Adding a conservatory is the most cost-effective way of adding value to your property, according to research from HaMuch.com.
The tradespeople comparison site worked out the percentage value added by a number of home improvements on the average house, once you’ve accounted for the cost of the work, to see which projects are most cost-effective.
It found that installing a conservatory costs £6,675 but increases the price by £14,062, or 6%. This means you increase the property value by an average £7,387 after factoring in the money spent on the installation.
Other good-value home improvements include installing a kitchen, which adds £4,890 of value after taking costs into account, and all-over redecoration, which adds £4,765 to the house price after costs.
Big money projects
Converting your loft into a living area increases the property value by an average 10.8%, or £25,312, but it’s estimated to cost £21,000 to carry out and you may need to gain planning permission, alter the roof structure, and add a staircase.
At the other end of the scale are projects that add very little in value, and landscaping your garden is one of the worst offenders. It costs an average £3,000, but adds only £3,281 to your property’s value – a gain of £281.
Founder and CEO of HaMuch.com, Tarquin Purdie, said: “Improving your home can also help increase its value in the event that you are looking to sell and adding a conservatory is the most cost-effective way of increasing your property’s value.
“However, not every improvement will add value so it’s worth researching first, although if you want to make a guaranteed difference to your home’s value, a loft conversion is the way to go despite the high up-front costs.”