Does an extension add value to your house?

If you’re wondering “Does an extension add value to your house?”, you’re certainly not alone. Many homeowners want to know if extending their properties will increase their worth. The answer is yes, building an extension is likely to boost your home’s value. This could be by as much as 23% depending on the type of extension. Read on to find out more. 

Will extending my home increase its value?

Adding an extension will nearly always increase your home’s value. This is because buyers are increasingly looking for properties that offer more space. Homes have become smaller over the years, with research showing they’ve reduced in size by around 20% since the 1980s. This tends to give larger, more spacious homes the edge in the property market. Extending your kitchen, converting your loft or adding a home office can make your property particularly desirable to local buyers. Keep reading to learn how does an extension add value to your house. 

How much value can an extension add?

Many people want to know exactly how much value an extension will add to their homes. However, it’s not always easy to say since it depends on a number of factors ranging from the type of extension carried out and the standard and quality of the building work and the finish. If the work is done to a high standard using top-quality materials, this will naturally add more value to the property than substandard work. 

Having said this, research by Nationwide gives some insight into this, revealing that adding a bedroom and an en-suite to a three-bed house can increase its value by 23%. A kitchen extension can add significant value too, often achieving an increase of between 15% and 20%. Loft conversions are another profitable type of extension, adding around 15% to a property’s worth. 

How much does an extension cost? 

As you can see, an extension can add significant value to your home. However, you’ll also need to consider how much it will cost to build it. If it costs much more to construct than it will add in value, it may not be the best investment. Of course, the cost of the building work will vary depending on the type of extension and its complexity. An extension that needs to be built on uneven ground or requires unusual building materials to ensure it integrates with the rest of your home or surrounding properties, may cost more.

Extending a kitchen or living room will usually require a single-storey extension. This usually costs between £1,500-£1,750/m², plus the VAT for the labour and the materials. Converting your loft is likely to cost a lot more, between £15,000 and £60,0000 depending on the type of roof and its condition. Although, a loft conversion can also be one of the most profitable types of extension, adding significant value to your home. Whilst extending your home doesn’t come cheap, it can still be a cost-effective investment.

Should I extend my home? 

Whether or not you should extend your home will depend on a number of factors. From a financial perspective, it can be a very good idea since adding an extension is likely to increase your home’s value. This means you’ll be able to demand a higher figure if you choose to sell up. Although building an extension can cost a lot, you’re likely to see a significant return on investment. 

Keep in mind that this is only likely to be the case if the work is carried out by a competent workforce. You need to consider your options carefully when hiring a company to build an extension in Leeds. You’ll need to ensure they have the skills, knowledge and expertise needed to carry out the building work to an exceptional standard. Hiring inexperienced builders isn’t a good idea, even if they’re cheap. You may find that problems arise in the construction over time which can be costly to put right. 

Loft and Extension on home in LeedsYou’ll also need to consider your circumstances when deciding whether or not to extend your home. If you require more space because your family is growing, you’ve suddenly found yourself working from home or you need more room to enjoy hobbies and pastimes, adding an extension can be a good idea. Whilst moving to a bigger house is an option, it’s unlikely to be very appealing if you’re settled where you are and you don’t have the hassle and expense of relocating.

House extensions in Leeds 

Now you know that the answer to the question “Does an extension add value to your house?” is yes, you may be looking to hire our services. At AKB Loft Conversions, we specialise in property extensions in Leeds. Our team have been building all types of extensions for many years, giving us a huge amount of experience along with a fantastic reputation throughout the area. 

Although we’ve made a name for ourselves by converting lofts into beautiful living spaces, we can also build kitchen extensions, garage conversions and orangeries. We’ll work with you closely when planning and constructing your new extension, making sure it reflects your needs and vision perfectly. What’s more is that with some of the most competitive prices in the area, you can rest assured that you won’t pay over the odds for your new extension. At AKB, we’re dedicated to providing a real value-for-money service to our customers.

Contact us

For extensions in Leeds, get in touch with AKB Lofts today. You can reach us by calling 0113 436 0357 or by sending us a message via our website. We’ll get back to you right away to discuss your requirements with you and provide you with a quote for our services.