Does a renovation increase a properties value
A frequently asked question we receive is does a renovation increase a properties value? The short answer is yes.
The way people live has changed and people want functionality and efficiency as much as they want more space. Often adding an extension doesn’t fix the properties main issue which is that the current layout doesn’t fit a modern lifestyle.
People want the balance of private spaces like living rooms, functional spaces such as utility rooms and social spaces in the form of a kitchen diner. Utility rooms and offices were the most common additions to a property in 2024 since people have been seeking to divide their home life into work and relaxation.
Renovations increase a properties value because any potential buyer is aware that the property has been well maintained, it is also likely to have a fresh building control compliance certificate as well as meet modern living standards.
How to maximise investment
The best way to maximise investment in a renovation project is to ensure that costs are kept under control. Of course different areas of the country yield different cost to value ratios. London is by far the best place to renovate a property from an investment perspective because it is far more likely to be a secure investment.
Keeping costs under control is not an easy part of the process and often people make the mistake of simply trying to save money everywhere. In reality it is actually best to save in certain areas whilst ensuring there is an investment in features and wow factor. Features like slimline glazing and built in wardrobes are expensive but add significant value to a property. These features make a property more appealing and make a potential buyer far more likely to compete for the purchase which is likely to increase the eventual price paid.
If you are considering a side return extension please don’t hesitate to get in touch on 02082260305 or email us at info@abbeyextensions.com. We are a Multi Award Winning Chartered Construction practice with experience in luxury projects across London and the surrounding areas.
