How much value could these home improvements add?
When it comes to selling a home, it can be tempting for vendors to go ‘all out' to make their house stand out.
But not every home improvement will add value.
New research from a popular property portal has revealed the top three home improvements which could add significantly more value to an asking price, than the cost incurred to do the work.*
Garden offices take the top spot
Not surprisingly, the surge in post-pandemic remote workers has placed a garden office in the top spot when it comes to adding value.
Research shows the average garden office costs almost £9,000 to install and will typically add 8.4% to the value of a home. Based on an average UK house price, a garden office could potentially add nearly £23,000 to the asking price, leaving a healthy profit just shy of £14,000.
Good news for garage conversions
A garage conversion follows in second place when looking at the most profitable improvements.
A standard garage conversion would set you back approximately £14,500. The research suggests that with the potential to add just over £27,000 to the asking price of an average home, converting your garage could provide an easy £12,500 profit when you sell.
A new kitchen is the third most profitable project
In recent years, our kitchens have transformed from a place to prepare a meal, to somewhere we host, socialise and come together as a family. Research has shown that updating a tired kitchen before you sell your home is the third most profitable thing you could do. On average, the cost of a new kitchen comes in at £8,500, with the potential to add nearly £15,000 to the value of a typical UK home.
Contact our team today for more expert advice on increasing the value of your home.
Ready to sell? Book your valuation here.
*Property Reporter
This article was originally published by BriefYourMarket and is reproduced here with their permission.
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