Most people make improvements to their homes to make them more comfortable. Of course, this is understandable, and a very good reason to make changes.
New kitchens and bathrooms add value to a home
However, did you realise that some improvements can add value to your home? Yes, I guess you did. After all, you would have to have been in a coma for years not to have read at least one article that explained that updating your bathroom or kitchen adds value to your home.
Extensions also add value to properties
If you live in an area that has a high house prices, often adding an extension will add value to your property. In some, places you can add tens of thousands to the price of your house. However, the format of the extension is important. Some add more value than others do. For example, conservatories tend not to make properties much more valuable, whereas adding an office or extending the kitchen usually will.
In some areas adding a new bedroom is the best way to make sure that the extension you build maximises how much value you add to your home. If you live in an areas where two bedroom homes are the norm there will be very strong demand for three bedroom properties. In that situation, adding an additional bedroom will make your home much more saleable. However, if you already have three or four bedrooms adding another may actually have the opposite effect, and make your home harder to sell should you want to.
Loft extensions add value to most homes
If you do not have enough space to build onto your property going up can be an option. In many homes you can easily turn the loft space into accommodation.
It is easy to add another bedroom, a playroom or office space in the loft. Many people opt to turn this space into a new master bedroom with an en-suite bathroom.
Costs vary, but usually it works out cheaper per square meter than building an extension does. However, there are a lot of building regulations to consider, and in many homes the fact that there is not enough landing space means that a safe staircase cannot be built.
Calculating the costs
Clearly building an extension or having a loft extension done is not cheap. Therefore, you need to take the time to sit down and work out whether it is worth your while getting this sort of work done.
You need to work out how much the extension will cost first. Then have a chat with a couple of local estate agents to find out how much value can be added to your home. Most are happy to advise you provided you do not take up much of their time. Local builders will also be able to help. You can double check their valuation estimates by comparing the prices of different size properties in your area.
Of course, if you just need the extra space, provided you can afford to do the building work and get the permissions there really is no reason not to go ahead and get the work done. You will create a nicer home, that your family can enjoy.