What you should consider before you build an extension
Before you start looking into building an extension, you need to think about what your primary objective is. Are you looking for additional living space, or are you trying to add value to your property? Both tasks can be completed with an extension, but by establishing the main primary goal from the outset, you will be better prepared to make the right decisions in terms of design, size and location.
You should also consider if you need planning permission and be aware that some projects require building regulations approval. It is always best to do your research ahead of time, so you know exactly what is required. Furthermore, it is also a good idea to speak with a professional architect or builder who can advise you on the best solutions for your individual needs.
How much value does an extension add?
When it comes to how much value an extension adds to a property, it really depends on the kind of work that is being done, the quality of the materials used and the scale of the project. In essence, the more high-quality work you put into an extension, the more value you can add to your property. Of course, this increased value also depends on local property prices. A well-designed, high-quality extension may add more value in a lower-value area than a less expensive one in a higher-value area.
Generally speaking, if the extension increases the value of a property by more than the cost of the work, then it is likely to give a good return on investment. Research by the Nationwide Building Society showed that extensions generally added around 10-15% value to a property.
Need assistance finding extension builders near you?
Get a QuoteHow to add the most value to your extension
The key to adding the most value to your extension is to create a space that is usable and attractive. It is important to get the design, size and location of the extension right, in order to create an additional space that works for you and that compliments the style and architecture of your home. It can be a good idea to add large windows that bring in plenty of natural light and to opt for classic rather than contemporary finishes.
Do some extensions add more ‘value’ than others?
Different kinds of extensions can add different levels of value to a property. Research by Yahoo News showed that a single-storey extension (the most popular type) typically adds 5-10%, while two storeys can add up to 20% of the total value of the home. Conservatories and loft conversions often don't add much value, due to their lack of insulation.
Budgeting for added value
When budgeting for an extension, it is important to ensure that you factor in the added value it is likely to generate. It is therefore important to shop around and get several quotes, both for materials and labour in order to keep your costs down. You should also consider the potential resale value of the extension and make sure you have enough budget to complete the project to a high standard.
It is also worth considering other ways to add value to your home, such as remodelling rooms, installing new fixtures and fittings, tasteful landscaping and painting the interior of your home. These smaller touches can all help to transform the value of your property, alongside the addition of an extension.
In conclusion, house extensions can be a great way to increase the value of your property. Before you build an extension, it is important to consider your primary objective and the options available to you. Extensions can add up to 20% value to a property, and careful budgeting and sensible design choices can ensure that the value generated is maximised.
In this article:
