4.3.20

Increasing Your Floor Space In Improve The Value Of Your Home

Collaboration

It would be nice to think that your home will always grow in value. Unfortunately, there are many reasons that your property may fall into negative equity and be worth less than you had paid for it. This can be a problem when it comes to selling your home and moving on when you want to use the value in your home as a way of buying a bigger or better-situated property. However, when your current home is not worth enough, this can cause big problems for your plans.

While there are factors in the value of your property that you cannot influence, such as its proximity to local amenities or main roads, it is, however, possible for you to change aspects of your home in order to increase the value.

These will include the aesthetics of the property as well as the layout. Before undertaking any major works, you should consider the cost of carrying this out against the potential increase in property value. You need to ensure that the work that you have done will push your home to achieve a profit when it is sold. 

Build An Extension
Additional floor space is something that generally adds a sizeable increase in value. One way of doing this is by having an extension built onto your home. This will give you extra rooms. You will need to hire Residential Architects to help plan the built, as well as applying for planning permission and engaging a contractor to carry the workout. 

Extensions can take time to get approved, and there is always a chance that the plans will get rejected. Planners will usually look at the proximity of your proposed extension to neighbouring properties and question whether it will have an effect on other homes. Extensions are generally the most costly way of increasing the square footage of your property.

Make Your Rooms Bigger
Smaller homes can be quite off-putting to potential buyers. They can feel claustrophobic. There are ways around this. If you have rooms that can be knocked into one to create bigger spaces, such as a living room and reception room, or a kitchen and a living room it will be possible for you to create an open plan living room. This can create a much more appealing space for potential buyers. 

Use Existing Unused Space
You may already have unused floor space on your property that can be utilised in a way that adds real value. Think about basements and attics. If you have either of these things that are not converted for use, you could have them made into additional living spaces. Building up into your attic means looking at your home fully and seeing where staircases, windows and the room space can be, as you have to remember that parts of the attic will be unusable due to the tilt of the roof.

If you have an adjoining garage on your property, this too could be converted into another room by blocking off the garage door and having windows fitted. Think about the best type of room that would serve that space well. For example, an attic conversion could be an additional bedroom, or office space, while a garage or basement could be made into a kitchen and dining room.

8 comments:

  1. As always, a very clear post with helpful suggestions.Thank you.

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  2. I'd love an extension - I'd make it my office - right next to my garden - perfect x

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  3. This comment has been removed by the author.

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  4. Jacob Barnard18:49

    Very Interesting Article :)

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  5. We are looking to downsize at the moment, and one things that puts us off certain houses is the open plan kitchen/living room. We cook a lot and we want the kitchen separate to contain the smell of the food!

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  6. Makes great sense - thanks

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