Before splashing out on a new kitchen or a loft conversion,
you would do well to consider how much such improvements are adding to the value of your home.
Surveys by the National Association of Estate Agents amongst its members and by property consultancy MoveWithUs with people who have sold properties
through their agency have come up with some interesting statistics. Here is what they found:
• Extension – extensions can vary dramatically form a single added room to a full blown two storey extension that doubles the size of the existing property. Because they can be so different it is not possible to put a cost or value on them. A well done extension will always add value to your property, however.
• Loft Conversion – both surveys found that adding an extra bedroom to your home can add 9-10% to its value, especially if it is a loft extension. Depending on its size you can expect to pay at least £15,000 for a good loft conversion.
• Extra Bathroom – an extra bathroom, particularly an en-suite, can be a useful selling point. MoveWithUs estimated it added around 6% to a property’s value. You can expect to pay anything from £2,500 to £6,000, according to the TradeAdvisor website.
• New Kitchen – another common improvement is the installation of a new kitchen. It is also something that is very personal so getting the design right could be especially attractive to some buyers. Consumer watchdog Which? estimate the average cost of a new kitchen at around £8,000 which MoveWithUs predict will add some 6% to the value.
• Conservatory – here you are effectively adding a room to your house at the expense of some garden space at a cost of between £4,000 and £10,000. MoveWithUs estimates it adds some 5% to the value of your home.
If you are considering making a substantial improvement to your home then with Regency Contracting you’ll be in the hands of one of Gloucestershire’s most experienced and trustworthy builders. They can supply a host of testimonials and have accreditations from government bodies and private construction auditors.
Contact us on 01452 372229 to discuss your requirements or explore our website: www.regencycontracting.co.uk
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