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5 ways to increase the value of your property
Don't waste your money on big projects that reap little benefit. Find out what you can do to your house that is sure to increase its value
It is the great British dream: buy your family home, tastefully decorate and furnish it, and when the time comes, sell it for a whopping profit and move to something bigger and better. Adding value to your house sounds straightforward enough, but it is often trickier than many of us realise and we often get it wrong.
According to the Royal Institute of Chartered Surveyors (RICS), for example, laying new carpets and wooden flooring has little impact on value, and hot tubs can even decrease the value, as parents may be concerned about safety issues. So what does work? We look at five things you can do to your home, big and small, which may help increase its value.
1. Build an extension
'Well-proportioned extensions, not necessarily of the loft, that are in keeping with the design and proportions of the original house tend to add most to value in my opinion,' says Jeremy Leaf, spokesperson for RICS.
'Homeowners should be aware however, that the value of their property will not necessarily be increased by more than the cost of the work unless it is carefully planned and does not create 'top-heavy' accommodation, i.e. too many bedrooms and not enough reception area. A carefully planned conservatory may represent the lowest cost and best value alternative.'
According to RICS, an extension such as a conservatory is likely to add five per cent to the value of your home.
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