Benefits of Property Extension
Many homeowners are fussing about the great convenience and cost-saving that they have enjoyed by extending their properties. But is home extension really an effective way to boost the value of your property? Is it really that beneficial for homeowners? To clear your doubts, let us lay the facts on the table.
Last 2006, when the property market in the U.K. was still relatively alive and kicking, a report from the National Building Society showed that an additional bedroom would increase the value of a house by about 6 percent, while a bathroom add about 5 percent. A loft conversion, however, was noted to be the most profitable addition, capable of adding over 20 percent value to the equity of an average-sized property. This additional value is measured according to every square foot added to the property, as well as based on the property's location. This means that the more strategic your property's location is and the wider the extension you have done on it, the better the return you can expect when you need to put your home in the market.
Hence, before you think about selling your house just simply because you think it is too small to provide your space needs, stop and think about your other option. A home extension is a great to alternative to moving home because the cost of new properties these days is skyrocketing. By converting a loft or by building a conservatory or an extension to your existing home, you can bypass the effort, time and numerous expenses associated with moving.