For most of us, our homes are the highest value asset we will ever own and form a huge part of our future decision making processes. From starting a family, supporting children through education, growing your financial security, through to retirement, we will often consider our homes as a financial investment for later in life and use it to help us achieve our goals. This could be by remortgaging, securing a loan against it, downsizing to release equity, or renting rooms out for income etc. Whatever your motivation is, we are all keen to add and maximise the value of our homes. Moving home is costly and stressful, incomes are being squeezed, but thankfully there are plenty of ways to add value and desirability to your home without costing a fortune. We asked Robin Tozer of Rendells, an experienced property agent based in the South Hams, Devon for his recommendations and what buyers are looking for these days. From adding a summerhouse or home office to converting a loft space, we have explored 5 great ways to help increase value in your home as recommended by a property agent. 

1. LOFT CONVERSION 

Loft conversions are nothing new but they are not as common as they used to be, and yet, still such a great way to extend and add value. Obviously, due to a number of factors such as roof truss construction and access to the space, loft conversions are not possible for every home. However, much of the UK’s housing stock is from the Victorian era through to 1930’s semi-detached homes and very often, thanks to the way the roofs are supported in these types of building, a loft conversion is a simple process. Converting the loft of a house is considered to be permitted development and so does not require planning permission subject to certain limits and conditions. If your intended conversion complies with the permitted development criteria then this really eases the process. You can read more information regarding loft conversions at the following Planning portal link. The big question is how much value does it add? In answer to this, Robin said “As an average rule of thumb, an extra bedroom and bathroom should add somewhere between £80,000 - £100,000 to your properties resale value. Loft conversions make a house feel considerably bigger and as they are at the top of the house and quieter, can be an appealing sanctuary as a master suite.” With loft conversions starting from approximately £40,000 depending on the size and complexity, there is clearly a good margin of value to be made. 

2. GARAGE EXTENSION 

If your house has an existing garage, then extending into it could be a quick win. “Many of the houses we see with a garage rarely ever use them to store cars, they are just general dumping grounds. If you create an extra ground floor room such as a games room for kids or as a bedroom, ideally with a shower room, you will not only add value but widen the appeal of the house.” If your house is of the traditional layout with bedrooms upstairs etc, then adding ground floor sleeping accommodation is ideal for giving teenagers their own space or accessible accommodation for elderly relatives. Starting from as little as £10,000 to convert an integrated garage, this is a relatively inexpensive and simple way to add a lot of extra space and functionality to your home increasing both its appeal and capital value. 

3. CREATE A SOCIAL DINING & LIVING SPACE 

Making a social dining and living space can add value and appeal to a home. Open plan areas, kitchen/diners are ever popular and create a more flexible space for when you have a house full. Knocking living rooms, kitchen and dining rooms into one another can really make a relatively small feeling home appear much more spacious and lighter. “Combining a dining area with kitchen space is always a winner for family size homes. Giving a kitchen dining area direct flow on the same level to a decking or outside terrace helps bring the outside in and really opens the space up. This is especially good in the summer months and is highly sought in the current market. Two things to keep in mind though if making areas open plan, ideally try and make sure it is not the only area you have and keep a separate reception room or snug. This means there is somewhere to go for TV watching or homework if it’s a family home. Secondly, keep a close eye on budget and don’t get carried away!” 

4. OUTSIDE SPACE 

If you cannot adapt or extend your property inside then consider looking at what space you have in the garden. A summerhouse or cabin in your garden with an electricity supply adds a lot of desirability and is a relatively economic and quick way to gain additional space. The benefit of a summerhouse or log cabin is that they offer really flexible space giving you and potential buyers of your home the ability to work from home or a quiet place for hobbies. Generally, summerhouses and garden offices come under permitted development rights and so do not require planning permission subject to certain conditions. Whenever we show potential purchasers around a property, if the garden has a good quality garden building it is always commented on as a positive and definitely increases desirability.

5. LARGE GARDEN ROOM OR ANNEXE 

Making a self-contained fully serviced annexe or studio connected to services will add a lot of value to your property. In addition to an uplift in overall value at sale, this type of space can give you the chance to earn money from rental income, airbnb accommodation or to run your business from. You will almost certainly require planning permission and building regulations approval for this type of building, especially if you intend to rent it out or use it for business premises. It is important to contact your local planning office before embarking on this type of project and you can find lots of information on the Planning Portal website here: Can you build an annexe in your garden? - Outbuildings - Planning Portal Adding a full garden annexe into your garden will not come cheap but it certainly will add realisable value when you come to sell your home. In the meantime, it will create a lot of additional space for you to use without having the upheaval and expense of moving house. Out of the five options detailed above, the one that will likely add the most value to your home is option 5. Being a detached building, connected to services and self-sufficient from the main property offers the most flexibility. It will also likely cost the most and you will lose garden area which may detract from your overall plot. So this really needs careful thinking about.

The big question is how much value does it add? As we mentioned in option 1 being the Loft Conversion, an extra bedroom and bathroom should add somewhere between £80,000 - £100,000. If you have a separate annexe with separate entrance and garden area, giving the greatest flexibility from: air bnb to a home for grandma, the value added will be significantly higher than this. 

Certain projects are quick and easy and will add instant interior appeal while others may be larger extensions that will give you kerb appeal or help your house sell for the right price on the property market. While you may be tempted to do large scale project don’t forget the smaller things can also add value too.