Updated: Aug 26
Which can add the most value to your property, and nonetheless your lifestyle.
When it comes to investments, including home renovations, it takes money to make money. By investing in renovations, you might be able to see a quick value increase on your house. However, which renovations will add the most value in terms of resale, and which of these wil ultimately create a better lifestyle for you and your family.
How can good design add value to lifestyle and
Value can be subjective or objective, and it usually quantifies in the formula Value= Benefits (what you get) / Sacrifice (what you put in). And fot the most of us, the sacrifice or cost is the one that matters most. But can we find the oportunities to ....
To better understand the concept lets look at some examples on how a renovation, conversion or extension can add value both subjectivly and objectivly to your lifestyle and property
There are numerous renovations to your house that can raise the value of the property, like painting and renovating, new floors and deking and adding new appliances to your kitchen. However, these are the type of investments that will, to some degree become outdated, used, and will require constantly maintenance. With that said lets looks at the long term investments that will help you increase the value of the property.
Garage Conversion can add up to 20% in value to your property, at the cost of car storag if the new room is designed as an additional bedroom. The investment costs are significantly less then any other type of conversion/extension and can add that extra space that any growing family needs.
Loft Conversion can add up to 15% value. However, the cost of building a loft can be significantly higher than a garage conversion. The estimated profit for the loft conversion will be less than a garage conversion.
Extensions can increase the value by up to 11%, however, they are quite costly and if the extension is not properly designed with a lot of its good to pint out that a ground extension will be more expensive than a first floor extension, or a loft conversion. The ground floor extension will require a new build ground floor which will increase the final cost considerably.
When it comes to energy saving, upgrading your property to achieve higher energy ratings will give an increase in value up to 15%, just a new central heating can add another 6%.
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