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How to increase the value of your property
2007-11-09
Research from Halifax gives us the lowdown on the best ways to extend

IF YOU are looking to increase the value of your home significantly, your best option is to build an extension. Halifax says that a substantial extension can add more to a home’s value than any other home improvement.

How to increase the value of your property
2007-11-09
Research from Halifax gives us the lowdown on the best ways to extend.

IF YOU are looking to increase the value of your home significantly, your best option is to build an extension. Halifax says that a substantial extension can add more to a home’s value than any other home improvement. Creating an extra room should be the objective, although extending a room such as the kitchen may change the use of other rooms, thus having the same effect.

However, Halifax ranks a loft conversion as offering the best value for money because it has the most potential to recoup your outlay through the value it adds. A new kitchen is the second-best for value for money; redecorating is third because of the minimal cost of materials. Building a substantial extension is ranked fourth because it requires the largest financial outlay, despite its potential for the highest return.

Halifax distinguishes between conversions and conservatories on one hand and extensions on the other. A loft conversion is good, particularly if it is a bedroom. A garage conversion, if connected to the house and properly heated and insulated, can offer similar financial benefits to a loft conversion. Conservatories are tricky to get right. They are comparatively cheap to construct and therefore their perceived value is low. However, if the conservatory becomes a primary room of the house, such as a dining room, it can add more. Ideally it should connect two rooms (for example, the back sitting room and an existing kitchen extension).

Financial gains aside, there are other benefits to more space. Creativity, clarity of mind and quality of sleep are all enhanced by organised, well-balanced spaces.....

KASIA MACIEJOWSKA
The Times

Research from Halifax gives us the lowdown on the best ways to extend

IF YOU are looking to increase the value of your home significantly, your best option is to build an extension. Halifax says that a substantial extension can add more to a home’s value than any other home improvement. Creating an extra room should be the objective, although extending a room such as the kitchen may change the use of other rooms, thus having the same effect.

However, Halifax ranks a loft conversion as offering the best value for money because it has the most potential to recoup your outlay through the value it adds. A new kitchen is the second-best for value for money; redecorating is third because of the minimal cost of materials. Building a substantial extension is ranked fourth because it requires the largest financial outlay, despite its potential for the highest return.

Halifax distinguishes between conversions and conservatories on one hand and extensions on the other. A loft conversion is good, particularly if it is a bedroom. A garage conversion, if connected to the house and properly heated and insulated, can offer similar financial benefits to a loft conversion. Conservatories are tricky to get right. They are comparatively cheap to construct and therefore their perceived value is low. However, if the conservatory becomes a primary room of the house, such as a dining room, it can add more. Ideally it should connect two rooms (for example, the back sitting room and an existing kitchen extension).

Financial gains aside, there are other benefits to more space. Creativity, clarity of mind and quality of sleep are all enhanced by organised, well-balanced spaces.....

KASIA MACIEJOWSKA

The Times