Even with the rise of shoebox homes and tiny living fads, a recent study indicated that nearly 38% of Britons would prefer a larger home with additional rooms, which is why we’ve decided to take a closer look at the advantages of building a residential extension.
Return on Investment
Even though domestic extensions tend to be more expensive than most other improvement projects, it’s important to note that they consistently deliver the highest ROI:
- On average, building a conservatory will add between £18,000 to £22,000 to your property’s market value and provide an ROI of more than 60%.
- Increasing the size of your living area, kitchen, or master suite can bump up your home’s listing price by anywhere from 15% to 25% and these projects correspond with a median ROI of about 71%.
- Converting your garage or loft is easier to facilitate than most extensions and these transformations can boost any home’s resale value by more than £15,000.
After the project is completed, your new appraisal price will maintain its full value for multiple decades, which means that you won’t have to immediately sell your property to realise your ROI.
A Wide Range of Options
If you hire some trusted builders in Harrogate, you’ll be able to select from a vast array of personalised undertakings depending on your financial situation and architectural desires:
- Single-storey extensions and bump-outs
- Multi-level builds
- Garage, cellar, and loft conversions
- Orangeries, sunrooms, and conservatories
- Kitchen revamps
- Bathroom additions and refurbishments
Simply by scheduling a consultation and requesting a project estimate, you’ll be able to take the first steps towards a frugal property investment. Be sure to book a site visit with a trustworthy team of construction experts sooner rather than later.