When it comes to improving your home, and adding value, you have plenty of options. If all you are focused on is increasing the return on your investment, your main priority is finances and value. However, if you also want to enjoy your home for a few years, you need to consider transforming your home in a way that helps you maximise your utilisation of it.
For many households, adding a conservatory is the natural choice for improving their home. If you are fortunate enough to have the space available to make this change, adding a conservatory allows you to create a space that is perfect for socialising, relaxing and spending time with loved ones.
However, it appears as though conservatories are not amongst the leading options considered by homeowners looking to improve their home. NAEA Propertymark states that since 2013, around £40 billion has been spent on home improvements in the UK.
The most popular choices for homeowners include redecorating, installing new flooring and having their garden landscaped. These are all fantastic choices which add value and can make a home more hospitable.
What changes do you wish to make at home?
However, the same study found only 11% of homeowners making improvements at their property opted for a conservatory. The average level of spending on a conservatory is around £4,300. If all you are looking for is a space to enjoy pleasant weather and relax a while, this money is well spent.
However, if you are looking to add value when making home improvements, a conservatory isn’t the best option. A study in 2017, by Towergate Insurance, suggests adding a conservatory increases property value by 5%. A return of this magnitude has been stated by several estate agents, although one study revealed that a high-quality conservatory in an expensive area could add as much as 12% value.
Are you looking for the highest return on investment when adding value to your house?
By comparison, a loft conversion is said to add around 15% value. Of course, not all homeowners have loft space to convert, and some people don’t want to make this sort of change. If you are solely focused on adding value, there will be many reasons why adding a conservatory shouldn’t be your first choice.
However, if you are looking to improve your quality of life and you need a new space at home, a conservatory might be ideal. By enhancing your standard of living, and adding a modest value to your home, many people will feel content with this choice.
Some quick tips to consider before adding a conservatory to your home:
· Review all your extension options
· Check if you require planning permission
· Arrange quotes from at least three professionals
· Ask friends, family members or colleagues for recommendations
· Consider what offers the best value for money, not necessarily the lowest cost
· Opt for a style that matches your property
· Enquire about the heat-retention qualities of your chosen conservatory
In line with Government guidelines, our Royston branch has reopened and is again staffed with sales and lettings personnel. If you have any queries or need advice on property sales and lettings then please call 01763 245121 or email email@example.com.