How much money can be added to my London property?

As well as providing valuable living space, adding an extension to your home can potentially add significant value. In this uncertain economic climate, a well-designed extension can be an amazing investment to maximise both the value and desirability of your property. How much could you potentially gain and what are the top tips and tricks to get the most from your property? Let ELB talk you through it…

An extension will add space and functionality to your home. What is important, is to consider the quality of your proposed project, whilst a well-designed conservatory can add around up 5% value this could increase to as much as 20% with an extension. Yes, whilst a ground floor extension is not the most effective way to add square meterage to your home in-comparison to a loft conversion, kitchens are often a huge factor in a properties appeal. In fact, it is estimated that a modern kitchen with ample space and a polished finish can add 5% to the overall value when selling.

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House Conversion

Loft conversions are in-general the best way to add bedrooms to a property. When with the intention to sell and considering carrying out this level of work, it’s worth noting a balance is needed between creating the number of bedrooms and liveable space. In general, estimates suggest you can increase value by up to 20% with a loft conversion.

The ELB team are always happy to talk project feasibility and the best way to maximise your loft space, such as accounting for a growing work from home force looking for potential home office space. It has been estimated that as of post pandemic, as working from home became the new normal for many, that a home office can increase a property’s value by up to 10%.

When speaking with London estate agents they recommend including additional bathrooms, a rarity on older properties but with the potential to add value in a modern market. An en-suite could add more than £15,000 on the value of the average London home, this is easily achievable when adding an l-shaped dormer which can also create the addition two bedrooms. Extending and reconfiguring the ground floor to include a second family bathroom can add as much as £20,000 to your home and cater to those with accessibility needs that are not often met in homes.

Reconfiguration

Older homes seen in many boroughs of London can benefit massively from an reconfiguration in layout. With a skilled designer, that much-desired modern open-plan living style, could be adding up to £50,000 to your property. Carrying out these building work also offers you the opportunity to address any issues with the property such as limited light by adding additional windows and sought-after features like crittal or bifold doors and skylights.

If you are thinking of extending to add space and value to your property, contact the ELB team today on 020 3811 325 or alternatively email us at info@elbconstruction.co.uk. We would be delighted to hear from you and discuss your project in further detail and offer our free expert advice