Building an extension to your home is one of most popular ways to create extra space.
It doesn’t matter if it’s a single-storey or double-storey extension. Adding that extra living space will improve your home.
One of the most common questions is if an extension adds value to a home. It can be expensive to plan, build and furnish an extension. While it will give you more space, will you be able to sell it for more money?
Extensions of the home and their value
The value of your property will increase if you extend your home. The value of your home will increase depending on what type of extension you have built. However, research shows that can raise the property value by:
- Double storey extensions – 20%
- 10% to 20% on a single-storey extension
- 5% for a conservatory
The actual value of your property will vary depending on many factors. For Extensions Gloucester, visit Ryan Meadows
Remember to also consider the possible ceiling price for a property within your locality.
In general, the area where you live will have a maximum price for a house. Adding an extension to your home that could take you above this ceiling value is not a good investment.
Alternatives to an Extension
There are many other ways you can create more space in your home if an extension doesn’t seem right.
Loft conversion
Loft conversions are a simple way to create extra space. They don’t take as much work as an extension. Often, you won’t need any permission.
These conversions will add value to your house. The extra space can increase the value of your home in areas with few houses that have more than two bedrooms.
Garage conversion
A garage conversion can be a quick way to add space. However, removing the place where a car is stored securely may put off future buyers.
If you have enough space on your driveway to park your vehicle, a garage conversion can increase the value by 10 percent.