One of the most exciting things about being a homeowner is the opportunity to change and adapt your living space. Whether you’re looking to create a more comfortable home for your family to spend time in or you want to boost your property’s resale value, home improvements are an excellent way to achieve your goals. But not all renovations are created equal – and some will end up adding more value to your home than others. Here we’ll take a look at some of the most common home improvement projects and see how each one could affect the value of your property in the future.
Extensions
Extending your home is a substantial investment but one that can add significant value to your property. According to recent research, adding a single-story extension can increase your home’s value by up to 15%, while a two-story extension can boost it by as much as 25%. The exact increase will depend on factors such as location, size, and the quality of the extension.
Why?
Extensions are popular because as well as a great potential return on investment they also offer additional living space, making them especially attractive to growing families. They can also be designed to accommodate various needs to enhance your quality of life – from creating a larger kitchen and dining area to adding extra bedrooms or a home office.
Loft and Cellar Conversions
Utilising previously unused or underused space in your home can be a really cost-effective way to add value. Loft and cellar conversions can provide extra living space without changing the footprint of your property. On average, a loft conversion can increase your home’s value by around 15%, while a well-executed cellar conversion can boost it by up to 30%.
Why?
These types of renovations are popular because they offer a versatile space that can be transformed into bedrooms, bathrooms or even rooms purely for entertaining like a bar or home cinema. They also tend to be less disruptive than larger extensions, making them an attractive option for many homeowners who can’t face the stress of a full extension.
Adding a Garden Room
In recent years, garden rooms have become increasingly popular. These standalone structures built in your garden away from the main house can serve as a home office, gym, art studio, or simply somewhere to relax and get away from it all. The average increase in property value from adding a garden room is approximately 5-10%.
Why?
Garden rooms are appealing because they provide a separate space that allows homeowners to enjoy the tranquillity of their garden while still staying connected to their home. With the rise of remote work and the desire for more versatile living spaces, garden rooms have quickly become a highly sought after addition.
Adding a Bedroom
An additional bedroom can significantly enhance the appeal and value of your home. On average, adding a bedroom can increase your property’s value by around 10-15%. This is because more bedrooms make your home more versatile and accommodating for potential buyers.
Why?
The need for extra bedrooms often arises as families grow to help give everyone their own space. But some homeowners use this type of renovation to create guest rooms or even open up rental opportunities. It’s worth noting that a larger number of bedrooms can also make your property stand out more on the always competitive housing market.
Open-Plan Living
Creating an open-plan living space, especially by renovating your kitchen, is another valuable home improvement idea. An open-plan layout can increase the value of your property by approximately 5-15%, depending on the extent of the renovation and the quality of the finishes.
Why?
Open-plan living is popular because it creates a sense of spaciousness while still allowing everyone to stay connected. More and more commonly these types of open plan living spaces are becoming the heart of the modern home and this type of renovation can therefore be very appealing to prospective buyers.
Conclusion
Whether you’re aiming to purely increase the value of your home and get it sold as quickly as possible. Or you’re simply looking to enhance your quality of life until you do decide to sell. Home improvements can be a shrewd investment that can add massive value to your property.
So, if you’re in Keighley, Skipton, Silsden, Bingley or Ilkley and you’re thinking about starting your own renovation project, speak to the experts at Cobbydale Construction today. We’ll be there every step of the way to make sure your home improvement is a huge success.