News 5 Ways to increase the value of your property
Published by Jonathan on 21st August, 2016
5 Ways to add value to your property
Value can be added to your property by either creating more living space or making it more appealing. There is always an assessment to be made on return of investment. To do this you will need to workout what the cost of square footage is in your area, then work out what how much your adding against the building cost.
In November 2014 Zoopla said that a conservatory can deliver a 108% return on your investment. A conservatory is a good way to create more living space that doesn't require the same planning permission restrictions as an extension. It is of course limited to one floor but can be completed in a short space of time with little disruption to the rest of the house. There is a down side in that you will need to give up garden space but the rewards can be high. The extra space will not allow for extra bedrooms or bath rooms but it could be used to add an additional reception or dining space.
.2. Convert the Garage
Who do you know that actually puts their car in their garage? Mostly they are used to store things in but what if you could make this into an extra bedroom? Converting a garage can be less expensive than a full extension yet provide big returns. There are different levels of building difficulty in converting your garage with integrated garages being the easiest but there could be a good investment to be made here.
3. Loft Conversion
The Nationwide Building Society suggests that a loft conversion can increase the value of your property by 20%. This is a good way of creating more living space by adding another bedroom and maybe a bathroom. Changing your property from a 2 to 3 bedroom suddenly puts your house in a new value bracket giving it appeal to a different market. You will want to make sure that access to the loft is easy and does not intrude on landing space to much. This option could be particularly beneficial to bungalow where there is greater loft space.
An extension can completely change the dynamics of your property. If the correct planning permission is obtained you can increase the space on two stories. The value added to your property will completely depend the cost you negotiate with the builders and the maths will have to be worked through thoroughly but this is the ultimate way to increasethe square footage of your property and adding value.
5. Pave front
Inner city or town car parking can be expensive and a major inconvenience. Using a front garden for off road parking cancertainly add appeal making your property increase in value. You will want to get permission from the council to drop the curb to make easy access to front which will again add appeal as no one but you or guests can park in front of your house.