There are various types of home improvement that can add value to your home and the one that is likely to be the most cost effective is the construction of an extension. Extensions come in all shapes and sizes but one thing that they do share is the capacity to add greater space within a property, which, in turn, makes that it is a more valuable asset in the property market.
Recent studies have shown that the owners of residential properties can achieve tangible, significant increases in the value of their properties by adding an extension. The figures in the study suggest that extending an average three bedroom property has the potential to enhance its its value by around twenty three per cent, as long as the extension adds at least thirty square metres of extra floor area and a further double bedroom with a bathroom en suite.
An Extension Can Add Real Value to Your Home
Naturally, the cost of constructing the extension has to be factored into the figures but the percentage increase in value is so significant that it outweighs the construction costs substantially.
The increase in value is also proportionate to the size of the extension. Thus, although a double storey extension will cost more to construct than a single storey, the increase in value is correspondingly greater.
There are also various different types of extension that will all, to a greater or lesser extent, add value to a property.
Whether single or double storey, the conventional extension will, if constructed properly, blend in with the external appearance of the property and will, so far as is possible, look and feel as if it were built at the same time as the property itself. This type of extension is the most expensive but is also the type that is likely to add the greatest value.
A popular form of extension is to create a new bedroom in the loft space. Because this does not involve the addition of a construction to the property, relying on its existing framework to house the extension, it is a relatively inexpensive way of providing another bedroom if there is an addition to the family or as the children get bigger.
Another popular kind of extension, which takes advantage of the existing framework of the property, is a garage conversion. Garage conversions can be extremely versatile and can even be the basis for a double-storey extension, with the garage being converted to the ground floor. As the garage will be at ground level, it makes connecting to the mains water and drainage systems straightforward, opening up the possibility of creating an additional bathroom or using it to extend a small kitchen.
Another popular means of extending a property is by way of the addition of a conservatory. Although this does involve adding another construction, conservatories are far cheaper to build than more solid extensions. There is a range of choices available, from the smaller, greenhouse style conservatory to the more substantial structure that can be used as a regular room in the house. A conservatory is a relatively cheap way of extending a house.
If you need to add space to your house or simply want to implement a home improvement that will add to its value, the construction of an extension is a tried and tested way of achieving both of these goals.
Article written by Billy Phillips, former attorney, now writing for blogs and websites in the construction and real estate industries, for Torquay and South Devon Builders whose website can be found at www.thebuilderssw.com
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