We often become inspired after watching architectural television shows that show the transformation of homes across the country — but the price of such conversions can be high. After all, data from the Office for National Statistics has predicted that those in the UK collectively spend almost £30 billion on home improvements annually. That works out at £43 million each week.
Kitting out your kitchen
Host of two of the UK’s most popular television shows, Phil Spencer, commented: “If you are only going to improve one room, make it the kitchen. This has now become the showpiece area of the home. We don’t just cook in it, we do homework in it, we watch television in it and hold dinner parties there.”
Make sure that you’re aware of the price for both kitchen conversions and any changes you plan to make around the home. There’s not going to be much value added to a house that’s valued at £170,000 if it’s fitted with a £25,000 kitchen.
With the possibility of adding around 4.6% onto the value of your home, it’s important to ensure that you’re making the right decisions. The Royal Institution of Chartered Surveyors (RICS) echoes this statement, acknowledging that a new kitchen will make a property more appealing and can add up to four per cent to its overall value.
Bathrooms, whether this is the creation of a second or installation of an en-suite can add an extra 5% to the value of your home according to research compiled by the Nationwide Building Society.
However, homeowners must keep it simple. Phil Spencer points out: “You don’t need to do a lot with the room, it’s all about the features that you put in, such as a set of new taps, a heated chrome towel rail, a big new shower head, a power shower, and a glass screen or glass door instead of a shower curtain.”
Re-designing your loft
There are some homes that are already perfect when it comes to converting a loft space — usually if they were built before 1975 or have a headroom of 2.3 metres. The Nationwide Building Society estimates that a loft conversion may be able to add up to 21 per cent onto the overall value of a home, while Nationwide indicates that adding a double bedroom to your property — to which the loft can be transformed into this suitable space — can add over 10 per cent to the property’s value.
With many regulations surrounding the conversion of a loft, you must ensure that you seek expert advice when making decisions.
Repurposing your garage
10% can be added to the value of the home if you add a double bedroom. If a loft conversion doesn’t work for your property, or you are looking for another room to convert, consider transforming a garage.
90% of garages in the UK aren’t occupied by cars, and Phil Spencer states that this In general, the British media personality and television presenter says that the value added can be calculated by multiplying the square footage gained by local price per square foot.
Building a conservatory
“Conservatories will add value to a home, but they need to be made with quality materials and provide a lot of light in order for the value to be significant” commented Mark Hayward, from the National Association of Estate Agents (NAEA).
Make sure that you stay away from uPVC when it comes to the conservatory and stick with glass. A high-quality conservatory can add as much as five per cent to the home’s overall value, according to property valuation providers Yopa, though Phil Spencer is confident that 11 per cent will be added to the value if the conservatory is part of a full-blown extension.
Changing up your garden
Remember that adding a conservatory to your home can take up a lot of garden space and you want to try and avoid this. This is because a property’s outdoor space can also add substantial value.
It’s important to make sure that your garden remains accessible for all of your family. For this, consider fitting glass doors which open out into the garden and install high-quality outdoor lighting throughout the garden.
Have you ever considered decking? Phil Spencer has found that this can add up to 2% to home’s overall worth.
This article was researched by DM Design, who offer a bespoke bathroom service.