Do you live in East London or the surrounding areas? Are you looking for easy ways to add value to your home? Then check out our guide put together by our expert Chartered Surveyor East London team, below.
Add Bathrooms
Looking to add around 5% to the value of your home? Our Chartered Surveyor East London team suggest adding an extra bathroom or ensuite is the way to go. Indeed, bathrooms are one of the features that potential buyers evaluate most when looking around a property, so it pays to make sure yours are on point. Contemporary buyers expect homes with more than one bathroom now too, whether that’s an ensuite for the master bedroom, or a downstairs bathroom for added convenience.
Consider a Conversion
Conversions are another great way of adding usable space and value to a property. The great thing about conversions is that they utilize space that is already there, which means they can be significantly cheaper and less time-consuming than building an extension. There are a variety of different types of conversions to consider, which you can read about below.
Basement Conversion
According to East London chartered surveyors, a basement conversion can add significant value to your home, averaging from around 10-20%. There are also plenty of benefits to choosing a basement conversion including if you so choose using an AirBnB rental space, an office, or a home gym. Some people go as far as to make their basement conversions into their home spas complete with hot tubs and saunas!
It is worth noting, however, that there can be some substantial costs associated with basement conversions including installation of ventilation, concrete flooring, plumbing, draining, and electrics. This means it’s crucial to carefully weigh up the costs of a basement conversion against the potential increase in home value before you begin.
Garage Conversion
Another type of conversion that can add value to your home that you may wish to consider is a garage conversion. Again this type of conversion tends to be cheaper than a from-scratch extension because the shell of the building is already there.
One of the best things about garage conversions is that you can tailor their use specifically for what your family most need, say charter surveyors in East London. Many people choose to add utility rooms to keep their homes free of the clutter of wet and drying laundry.
The value of a garage conversion will depend on several factors including whether you still have off-road parking. However, if this is the case you can expect an up to 20% increase in the value of your home.
Loft Conversion
The last type of conversion you may wish to consider is a loft conversion. Probably the most popular choice for those that have a loft or attic, such a conversion can raise the value of your property up to 25% in the right areas (High value, city properties usually). This is because by choosing to create an additional bedroom in the space you can transform your home from a 2 bed to a 3 bed or a 3 bed to a 4 bed, which can considerably increase the price you can ask for it.
However, some considerations must be made before you go ahead with a loft conversion. First of all, you will need to consult an expert for fire safety, as there are specific rules that must be adhered to. Additionally, you will need to check whether your loft contains a ‘party wall’ – that is a wall or structure that you and your neighbours share. If this is the case then you will need to formally let them know about your intentions before you begin any work.
Unfortunately, identifying whether something counts as a party wall can be a confusing and frustrating process. One way to simplify and speed this process up is to find a chartered surveyor East London to help you. They can identify whether a wall is classed as a party wall or not, and so help you free yourself of red tape and move forward with your project.
An Open-Plan Redesign
Open-plan living is one of the biggest modern home trends right now, and you can utilise this to add 10-12% to the value of your home. Open-plan living is all about knocking through walls, to create spacious light areas in your home. Adding an extension is also a wonderful way of achieving an open-plan home, and many people choose to add extra space to their kitchens and living areas to facilitate this.
If you’re open plan redesign does include building an extension, it will mean sacrificing some of your outdoor space, or garden. However, many people find that the value boost such as redesign provides, is well worth it.
