How Much Does A Renovation Add To A Home’s Value

London’s home improvement is rising, with local councils saying that they had an increase in planning permission request of 29%. This number has increased in the past 2 years as households came to terms with the global pandemic and working from home, adjusting their lifestyles. Apart from the changing circumstances, there are significant challenges with moving house.

The Problem With Moving Out

  1. The untold hardship/turmoil of moving your family to a new location
  2. It causes untold stress and, in some cases, depression as it may take a while for you to adjust
  3. Premium space in the UK is very high
  4. It is costly

Choosing to create the space you need without moving comes with significant emotional and financial benefits. You can choose to convert your attic, get your home extended, transform your basement, or refurbish your home. Renovating your home is an economical way of adding style and changing your home into the space you have always wanted. Another value-add is the rise in your property’s value.

Why are more people improving their homes?

More and more households in the UK prefer to improve their homes for various reasons, either converting their lofts, extending their homes, remodelling kitchen and bathrooms, but the most common reasons are

  • changes in personal circumstances
  • trendy and fashionable designs
  • the cost of moving out is high
  • the high price of new properties

Benefits of home improvement

  1. Brings your home into the 21st century
  2. Ability to express yourself
  3. Energy-efficient home improvements which drive down electric bills
  4. Superior home with better technologies and appliances

Here, we have put together the actual value add of a home improvement project. Bear in mind that this information is to act as a guide and not as an authority.

Home extension:
Value add – 11% – 24%

There are 4 common types of extension in the UK; side return extension, wrap-around extension, single-storey extension, multi-storey extension.

Loft conversion:
Value add – 10.8% – 21%

There are 5 types of conversions; mansard, dormer, hip to gable, velux, and gambrel.

Other value-boosting renovations,

Kitchen improvement increases your property’s value by 5.5%.

An Extension with kitchen and diner – 10.8%

New roof – 3.1%

Basement – 6.7%

Central heating system – 1.9%