It’s a dream of every property investor to see an increase in value of his or her property. Ideally, land rates rises with time and for your property to increase its value it may take several years taking other factors into consideration. In addition to adding space to your home, house extension is one of the ideal method of increasing the value of your home for future sale. In fact, according to Guardian, house extension can add up to 20% the total value of your property. If you are planning to extend your house, here are 5 suggestions:
Having a conservatory in your home could be one of the ways to improve lighting and add more sunshine in your home. With a conservatory, you will be able to experience what is happening outside at the comfort of your home.
One advantage of adding a conservatory in your home is its exemption from development approval. Hence, you need less paperwork and money to fully add a conservatory in your home. It is therefore affordable to most home owners.
2. Loft conversion
You can also be able to convert your loft to get extra space in case you need an extra bed room, a second living room or even a games room. In a loft, you will use less money and labor because all you need to do is internal conversion.
Additionally, you won’t need any development approval from relevant authorities making the whole loft conversion process faster. Since the conversion process can be somehow complicated, you can hire a reputable professional company to do the work.
3. Granny Flat
As a home owner you can add a granny flat to have an extra source of income. To make this extension a success, you need to have a large area of land adjacent to your house enough for the granny flat, materials necessary and labor. If you won’t do it yourself, you will have to hire a professional and hence you should allocate the project a budget.
Prior to staring the project, you should inquire from a professional or a friend who have done the extension about the materials needed, total area needed and maybe approximate labor costs. This information will help you draft an approximate budget that will help you determine whether you can go ahead. After completion, the granny flat can be rented out weekly, monthly or yearly basis and hence it’s a source of income.
4. Add a second floor
Although this house extension could be costly, it could be one of the ways to add value to your house. With a second floor, you will be having more space and if it’s excess you can easily rent some rooms to get income.
However, if you are to add a second floor, you need to have a planner, have a budget and inquire permission from relevant authorities in your area because the soil in your area may not permit storied buildings. Also, you will have to cope with other inconveniences such as lack of a roof for a period of time.
5. Extend outwards
If you are planning to add an extra space in your home, you can extend outwards rather than upwards because it’s cheaper. Ideally, if you extend outwards, you can add a room or several while still utilizing the land space available maximally.
However, if you intend to extend outwards, you need to consider the topography of your land because it could be a determining factor. To have a stable and secure building, a flat piece of land is preferred to evenly support the added weight.
House extensions is a great way to add value to your home but you should take your time before you embark on any project. The total cost of an extension may vary depending with your location, the type of materials you use, the company you hire to do your extension, the type of extension you are planning to do etc. Therefore, you should not haste to start a house extension project without carefully doing your homework.
May 20, 2017