As the family grows or there is an increase in the members of your home from friends to relations, one can manage extra space with much acceptance. Amid the high value of properties in the market, thinking of buying larger property is a big challenge for many, of course. However, with the extension of a double-story one can easily enhance their home, and add more space as well as more value to their property. Below we will see how a house extension can add more value to your lovely home.
All the facts and statistics
One can identify different factors that can assist and add to the value of your property as you choose to construct a double-story extension. The value-adding also depends on other several factors apart from extension like where the property is located, what kind of extension you want to opt for, the condition of the house, etc. Yet, as per recent statistics, one can have an idea of their expectations in relation to value improvement by adding an extension to your home.
As per the recent data provided by Nationwide, by adding an extension to one’s home which creates space for a bedroom and an en-suite, one can expect up to a 23% increase in the value.
While, with an extra bathroom, a further increase of up to 6% can also be expected.
Another survey by Zopa, claims that by investing in adding an extension, one can expect an average return of 71%.
Factors that can build better value
By adding an extension, one can certainly expect an addition to one’s property, however, there is more to it than simply said. Factors like build value versus gain value quality of the construction, what is the ceiling price in the location, challenges faced in building, financial cost incurred, etc.
The managing director of a popular online platform for properties UK, Property Checklists.co.uk, Kate Faulkner believes that the value added by your home’s extension is directly proportionate to the rise & fall of the market.
Why add a double-story extension?
Adding an extension to your home can have multi-benefits. These are not only helpful in adding more value to your home but also enhance its appeal. Some essential benefits include:-
- You can retain the size of your land
- You get a large & bigger home
- You can enjoy more space with your family & friends
- You can design your home with more space as per your specific choice
- You don’t have to sacrifice your backyard
To conclude, one can certainly invest in building an extension to their home by taking care of some factors associated as given above. Also, without worrying about the cost since the end result is more likely to generate better profits than before.