Adding Value to Your Home Through Renovation: A UK Perspective

There's a frequently asked question that pops up among homeowners in the UK: does renovating a house add value? The short answer is yes, it can. However, the extent of the value increase often depends on the type of renovation undertaken. In this blog, we delve into which renovations can significantly boost the value of your property.

1. Extensions

Adding square footage to your home almost always equates to an increase in value. This could mean a conservatory, a loft conversion, or a full-scale extension. According to data from the Office of National Statistics, a well-executed extension in the UK can add up to 23% to a home's value.

2. Kitchen Renovations

The kitchen is often said to be the heart of the home, and for good reason. An updated, functional kitchen can enhance your property's appeal. A kitchen remodel could see an increase in value of up to 10%.

3. Bathroom Upgrades

Bathrooms are another high-value area of focus for renovations. Upgrading old fixtures, re-tiling, or adding an en-suite can significantly boost your property's appeal and value, potentially by up to 5%.

4. Energy Efficiency Improvements

In our increasingly environmentally conscious world, energy efficiency has become a major selling point for homes. Installing insulation, upgrading to double-glazed windows, or adding solar panels can increase your home's energy rating and, in turn, its value.

5. Garden Landscaping

Don't neglect your outdoor space when considering renovations. In the UK, a well-maintained garden can increase a property’s value by up to 20%, according to The Telegraph. This can be especially true in urban areas where outdoor space is at a premium.

6. Basic Home Maintenance

Sometimes, the less glamorous renovations can have the most significant impact. Fixing structural issues, replacing an ageing roof, updating the central heating system, or replacing windows can all increase your home's value. Buyers are often willing to pay a premium for a house where no immediate work is required.

7. Adding or Improving Parking Space

In crowded urban areas or where on-street parking is restricted, off-street parking can add significant value. Building a driveway or improving an existing one could add up to 10% to the value of your home.

Before starting any renovation project, it's worth getting a professional valuation of your home and an estimate of what the increased value might be post-renovation. Remember that the goal should be to increase the value of your home in line with similar properties in your area - 'over-developing' may not yield the return on investment you might expect.

Renovating with an eye towards adding value is a smart investment strategy. Just remember to consider your lifestyle needs, budget, and the current market trends. If you need any help with your home renovation project, the team at Arkonnect is always ready to assist!