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There are many ways to add value to your home, but finding out the best way can be trickier than you think. Certain things can actually devalue your property, and therefore it’s a good idea to think carefully and do your research before investing money into something that could potentially become very costly. Many options such as extensions and extending square footage, or fitting a new kitchen etc are good ways to either add value or at least increase the saleability of your home.
Adding an extension is probably one of the best ways of adding space and value to your home, but is a relatively large investment and needs to be thought out properly. Any change to your home needs to be practical, functional and ideally carry a good return. Unfortunately if your home has a maximum value due to house prices in your location then spending money on anything could prove to be a negative investment so should be a lifestyle choice, however in most cases an extension is a good move.
You do however need to get the right balance between the outside space and your property. You could risk putting buyers off if you extend into the garden and significantly reduce the outside space so bear that in mind when planning your extension. Also consider areas of your home that are a priority, so don’t be tempted to add extra rooms that may not be necessary if your lounge or kitchen are small. Work on utilising the space the best way you can.
Providing your loft meets the minimum requirements of 2.4 metres in height, it can be a good idea to consider a conversion. Although a loft conversion may not add value to your property, it is much cheaper than an extension whilst adding valuable space and certainly makes your home more saleable as it could be used for a multitude of purposes including a bedroom, extra bathroom or study.
Another option that is becoming increasingly common is to create a basement extension. This allows you to avoid losing outside space by extending downwards, but it can be a long and complicated process of up to 12 weeks and as it may need to be dug out, structural issues like underpinning need to be considered. Once it is waterproofed and heated, a basement conversion can be ideal for an office area or studio.
Converting garages is also something to consider as they are rarely used to house cars, and tend to become store rooms. You can make the space much more attractive if your install waterproofing and heating. It can then be used as a study or studio or even a second lounge area or playroom. It is also worth looking at the outside space you have surrounding the property. Many people prefer a certain amount of garden space but if you have room, it is a good idea to consider putting a driveway in, as this often attracts many prospective purchasers.
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