Makeover fever – but what will add value to a home?

Peak prop­erty makeover time ap­proaches. Sharon Dale con­sid­ers which home projects will pay off.

Yorkshire Post - Property - - PROPERTY NEWS -

SPRING HAS of­fi­cially sprung and Al­fred, Lord Tennyson’s poem Lock­sley Hall says “it is a time when “a young man’s fancy lightly turns to thoughts of love”. For home­own­ers, it’s a time when thoughts turn to prop­erty projects that have been put on the back burner un­til after the ver­nal equinox.

The prospect of tack­ling a side re­turn, loft ex­ten­sion or re­dec­o­rat­ing is not at all romantic or de­serv­ing of a poem but it could add value to your home and en­hance your well­be­ing.

This should add be­tween five and 15 per cent to the value of your home, but even if you just break even, it is worth it. You gain an ex­tra room and if you are jump­ing from two to three bed­rooms then your buyer mar­ket ex­pands con­sid­er­ably. Most loft con­ver­sions come un­der per­mit­ted de­vel­op­ment and don’t need plan­ning per­mis­sion but they do re­quire a build­ing reg­u­la­tions cer­tifi­cate. Ex­pect to pay be­tween £15,000 to £40,000 for a con­ver­sion.

A sin­gle-storey ex­ten­sion will add about 15 per cent to the value of your prop­erty and a two-storey ex­ten­sion can add up to 20 per cent. Un­til May 2019, sin­gle-storey ex­ten­sions up to eight me­tres for de­tached houses and six me­tres for other prop­er­ties come un­der per­mit­ted de­vel­op­ment. The cost starts at about £1,300 per sq. me­tre.

This is be­com­ing much more com­mon as peo­ple opt to stay put rather than move but they are ex­pen­sive. Ex­pect to pay at least £30,000 to £40,000 and get an uplift in value of about 15 per cent if it is done well. A good ar­chi­tect will be worth ev­ery penny on a project like this as max­imis­ing nat­u­ral light and space is key to mak­ing it a suc­cess.

This very much de­pends on what style and spec­i­fi­ca­tion you choose. If you create a space that can be used all year round and is not bak­ing hot in sum­mer and a cold, damp no-go area in win­ter, then ex­pect to add at least five per cent to the value of your home. For in­spi­ra­tion from the top end of the mar­ket, see York­shire-based Caulfield Com­pany.

These can cost al­most twice as much as a loft ex­ten­sion, ac­cord­ing to Home­build­ing and Ren­o­vat­ing

IN THE PIC­TURE: Show ex­pert Michael Holmes. They are pop­u­lar in Lon­don where prop­erty prices are high and where a re­turn of be­tween 10 and 15 per cent can be ex­pected. Else­where, care­ful anal­y­sis is needed. Michael says: “A good qual­ity, well-lit base­ment liv­ing space with ac­cess to the gar­den will be worth con­sid­er­ably more than a dark, con­verted cel­lar space with com­pro­mised head­room.” If you de­cide to go down do your home­work and hire a builder ex­pe­ri­enced in cel­lar con­ver­sions and check out his or her pre­vi­ous projects. If the work is done poorly then the build­ing’s struc­ture can be dam­aged. You may also end up with a musty cave that no-one wants to spend time in.

There is no doubt that this will make your home more en­joy­able and more saleable, es­pe­cially if your gar­den build­ing is in­su­lated and use­able all year round, with an elec­tric­ity sup­ply and ac­cess to wi-fi. Ex­pect to pay from £5,000 for this. A shed prom­ises many things. It can be a place to work, a play room, a hobby stu­dio and even a guest room. The trend for shep­herd’s huts shows that your shed doesn’t have to be enor­mous to be suc­cess­ful. Es­tate agents are di­vided on whether these gar­den build­ings add sig­nif­i­cant value to a prop­erty, though most agree that you may well get back what you paid for it and buy­ers will love it.

This is a space you prob­a­bly spend a lot of time in so it’s worth spend­ing on. If you get the de­sign right it will also make your home more at­trac­tive and could add an­other two to five per cent on to your prop­erty’s value. Be­spoke, hand­made kitchens are a good in­vest­ment. York­shire is blessed with some of the best kitchen mak­ers who spe­cialise in beau­ti­fully-made wood cab­i­nets. A hand­made, Shaker-style kitchen will last a life­time.

Cin­ema room. This could add two per cent to your ask­ing price es­pe­cially if you are sell­ing a fam­ily home. How­ever, it has to look the part, and trail­ing wires are a big no-no.

Cin­ema rooms, like this ex­am­ple from Fi­nite So­lu­tions, are at­trac­tive to buy­ers and can add to your home’s value.

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