How Much Do Home Improvements Add To a Home’s Value?*

Finally, after years in a dip the housing market is on the rise. If you’re thinking of selling in the future (or even if you’re not) the best way to add value to your house is with home improvements. Although this can be an expensive route, the Office for National Statistics has predicted that households in the UK spend about £43 million each week on home improvements, in the end your house will be worth more than what you spent, and should you decide to sell it you’ll be making a profit. DM Design, a bespoke bedroom specialist, has carried out research to discover how much home improvements can add to your home’s value:

Fitting a New Kitchen
Phil Spencer, the presenter of both Location, Location, Location and Relocation, Relocation, sums up the appeal of the kitchen by stating “If you are only going to improve one room, make it the kitchen. This has now become the showpiece area of the home. We don’t just cook in it, we do homework in it, we watch television in it and hold dinner parties there.” It’s true, the kitchen is now the hub of the home which is why open plan has become so popular.

However, you need to match the price bracket of a kitchen to the price bracket of the entire house. There’s not going to be very much value added to a house that’s valued at £170,000 if it’s fitted with a £25,000 kitchen. Get the balance right though and Phil points out that a new kitchen will typically add 4.6 per cent onto the overall value of a home. The Royal Institution of Chartered Surveyors (RICS) echoes this statement, acknowledging that a new kitchen will make a property more appealing and can add up to four per cent to its overall value.

Fitting a New Bathroom
According to Nation Wide Building Society, adding an en-suite or second bathroom can add around 5% to your homes value. With the fast pace lifestyle we all live now, having an extra bathroom will be perfect for getting the whole family ready in the morning.

If you don’t have the room for an extra bathroom, transforming the bathroom with simple features can add up to 2.88% extra onto your home value. These things don’t need to break the bank, a new set of taps, a heated towel rail, a new shower head.

Converting a Loft
Homes which were built prior to 1975, as well as those with a loft with a maximum headroom of 2.3 metres, make for ideal places for loft conversion projects. But remember that professional advice needs to be sought before planning a loft conversion. You need to make sure the room meets both building and fire regulations.

If you want to give it a little extra, ensure you invest in some designer furniture pieces. Making your finished conversion look sleek can help any prospective home buyers picture what they can do with the space.

The Nationwide Building Society estimates that a loft conversion may be able to add up to 21 per cent onto the overall value of a home, while Nationwide indicates that adding a double bedroom to your property — can add over 10 per cent to the property’s value.

Converting a Garage
As pointed out above, Nationwide estimates that over 10 per cent can be added to the overall value of a home with the addition of a double bedroom. If a loft conversion doesn’t work for your property, or you are looking for another room to convert, consider transforming a garage. Most garages in the UK don’t contain a car and instead are used for storage space much like a loft. When it comes to the value of your home the garage would serve a much better purpose if it was converted into a double bedroom or even a dining room if your house doesn’t have one.

Adding a Conservatory
Mark Hayward, the managing director of the National Association of Estate Agents (NAEA), has underlined to The Telegraph why homeowners should consider fitting their homes with a conservatory. He commented: “Conservatories will add value to a home, but they need to be made with quality materials and provide a lot of light in order for the value to be significant.”

A conservatory is a great investment as it adds extra living space to your home. This is great if you can add it to your lounge with french doors, the extra glass will make the room feel huge. A high-quality conservatory can add as much as five per cent to the home’s overall value, according to property valuation providers Yopa.

Improving the Garden
Continuing on from the last point, before you go ahead and add a conservatory to your home though, be sure that it doesn’t take too much away from the property’s main garden. This is because a property’s outdoor space can also add substantial value. A garden should be accessible from the house, and have good quality lighting. Phil Spencer has also stated that installing decking can add 2% to the overall home value! Why not consider adding a decking area with Dino Decking? This offers a great area for eating, hosting guests or just lounging as you watch the sun go down.

Yes, it can be expensive trying to secure a top value for your home but it could be beneficial in the long run. Not only will you be able to get more should you decide to sell, but if you feel happy in the home you live it makes it all worth the extra cost.