Own a property and looking to boost its value?
As a homeowner – who isn’t?
The question is: what can you do to increase the value of your property when you’re on a budget?
Now, you may have been considering home extensions. They’re often touted as a well-known method of increasing property value.
However, We all know that home extensions can be pricey and, let’s face it, they take absolute ages.
The truth is that extending or renovating your property is probably the most surefire way to add to its market value.
In fact, According to a Nationwide report, a house extension could add 20% to the value of your property.
Now, you might be wondering:
How do I get started?
Can I get a house extension on a budget?
And which extension will lead to the best return?
Well, you’re in the right place! Here is our rundown of the house extension ideas that can help add the most value to your home.
1. Add kitchen extensions
The kitchen is commonly referred to as ‘the heart of the home’.
If you’re on a budget and can pick just one home extension idea to go with, consider extending your kitchen.
According to figures released by the Royal Institution of Chartered Surveyors, a brand new or well-designed kitchen can add as much as 4% to your property’s value.
Don’t have the budget for a total kitchen overhaul and extension?
Even just making small changes such as getting new worktop surfaces, unique tiles, or quirky doors and handles can make a huge difference.
Kitchens can start to look dated very quickly, so even a few small changes can refresh a kitchen without a huge investment from your side.
And if you do decide to get your kitchen extended or renovated, opt for installations and appliances that have a more classic look.
This will avoid the need for another update any time soon.
2. Add more storage space
Extra storage in a home can be a real selling point.
A lack of storage can put buyers off and decrease your home’s value.
If you’re wondering how to extend your house cheaply, creating additional storage space would be a great place to start.
This is highly valued by potential buyers, as it can be hard to find in most UK homes.
And it just takes a bit of unsorted clutter to make any place look cramped.
So, how do you get this done?
Make use of any spare space to build shelves or create cupboards.
There could be dead space in some nooks and corners or under the stairs etc.
If you want to discover where you can find extra space, a measured layout of your house can reveal spots you didn’t even know existed.
3. Add a new bathroom
A new bathroom is the investment that could add significant value to your home, as much as 5%.
Neutral shades and classic styles are recommended, and try and build a bathroom with plenty of natural light streaming in.
If you’re not able to build a bathroom extension with many windows, consider getting spotlights put in.
If a whole new bathroom isn’t possible, then consider adding a shower room into one of your existing bathrooms. This is a fairly cheap house extension idea, which potential buyers’ value quite a bit as it makes things so much more convenient for larger households.
4. A conservatory
Here’s the deal, Lots of natural light is a huge selling point for any home.
When you’re considering extensions, anything that adds more windows and bring in streams of light is a bonus.
Enter conservatories, a classic rear extension idea.
They’re much loved in the UK, and according to the RICS, a modern conservatory could increase the value of your home by 5%.
Yes, glass conservatories are the more expensive option when compared to polycarbonate conservatories, but they can provide more of a value boost in the long term.
In fact, conservatory extensions can deter buyers if they’re constructed of cheap materials that have a more dated look.
Keep in mind though, that a large garden/outdoor space is also highly valued by buyers.
(probably because it is such a rarity, especially for city dwellers)
When getting your conservatory built, try to ensure that any remaining outdoor space isn’t left looking too cramped.
Ideally, A conservatory which blends indoor and outdoors spaces well, for instance with the use of glass sliding doors, works to add extra room without minimising your outdoor space too much.
5. A loft extension/conversion
If you’re looking for small house extensions ideas, in a house that doesn’t have much outdoor space – think upwards.
You might be wondering:
Isn’t renovating your loft a conversion, not an extension?
Well, if you think about it, most lofts are left unusable.
So technically, this is extending upon the available space you have in your home. And, it creates a room that you didn’t previously have access to.
What could you use your newly converted loft for?
Well, it’s great for extra living space.
You could use it for a home office, a kitchenette and dining area, or a children’s play area.
The possibilities are endless.
You’re looking at a significant boost here.
In fact, research by the Nationwide Building Society shows that extending your living space into your loft could increase the value of your property by a whopping 20%.
It’s a bit of a no-brainer, really.
Want to know the best part?
If you don’t make any huge changes to the exterior of your roof, you don’t even need planning permission for a loft conversion.
Which makes it a great house extension idea if you’re looking to add value to your home quickly prior to selling.
Don’t forget though, that room will be needed for a new staircase, which will take up existing space.
6. An extra bedroom
Understandably, there is a lot of value placed on the number of bedrooms that a property has.
Creating an additional bedroom in your house can therefore offer considerable bang for your buck. According to the Nationwide Building Society, it can add 10% to the value of your home.
If you simply don’t have the space to extend to a new bedroom, you could do this through a loft conversion, or even by repositioning your existing floor plan.
Extra bedrooms can also be created by removing and adding walls in existing rooms, which is more cost-effective than a full-blown extension.
7. Prior to making any huge extension decisions, speak to a local estate agent that has been working in the area for a while
So much of your property’s market price will depend on the area it is located in.
When you’re considering different house extension ideas, have a discussion with a local agent who will be able to offer some valuable (no pun intended) insight into what sells in your area.
8. If you’re on a budget, start off with a single-storey extension
A two storey extension can cost as much as 50% more than a single storey one. Popular single storey extension options include a living room or dining room rear extension into the garden.
Obviously, this does minimise your outdoor space, but you can create a seamless blend between the interior and exterior by installing bifold doors that don’t take up much space and bring in lots of natural light.
9. Make your extension eco-friendly
The more energy efficient your home is, the more money it will save you in the long run in bills. According to the Energy Saving Trust, it could be a saving of more than £250 a year on energy costs.
It also adds value to your property as more and more buyers search for an energy efficient home, with an aim to be both environmentally and wallet friendly.
- Make sure any windows are well insulated and opt for solar panel heating if you can.
- Make sure any radiators have a thermostat and programmer, so heating can be adjusted accordingly.
- Choose an eco-friendly paint, made of more natural ingredients.
- Opt for LED lighting.
Remember, in the long term, all these choices will be better for your budget!
10. A more open plan layout
Building a conservatory or knocking down walls to create an open plan living area can result in more room for dining in and entertaining.
It is difficult to estimate how much value this will add, but it could create a more attractive and less cramped looking space.
11. Before getting your extensions done, think about what more could be done with your existing space
Sure, extensions are great for adding value.
But when you’re trying to decide how to extend your house cheaply, consider what you can do with your existing rooms first.
For instance, you could add great value by drawing up a floorplan of your existing property layout and seeing how you could improve it.
You may find that you could make some changes which bring additional usage and the feeling of more space within.
By removing (or even adding) walls, you may achieve the same effect as a house extension.
In fact, It offers a great alternative if you’re trying to do a house extension on a budget.
Got some unnecessary hall or corridor space?
Think of making better use of it by knocking down some walls and combining it with existing living rooms to create a multifunctional space.
A house can seem larger when there are fewer but bigger rooms.
12. Don’t forget the outdoor spaces
When you think of an extension, you may often focus primarily on the interior of the house.
But, here’s the thing, you could also add value by extending your garden or balcony space.
More outdoor space can go a long way in making your property more appealing to buyers.
Think about the following though, if you are planning to extend your garden:
You don’t want the outdoor space to be public – think about adding fences or trees.
How could the outdoor area be used?
Could it be a balcony garden?
Or a seating area with a picnic table?
Stage it before you set up any viewings.
Could you add aluminium sliding doors to provide easy access to outdoors, and bring more natural light in?
13. Create outdoor seating areas
If you are lucky enough to have some outdoor space with your property, make use of it by furnishing and creating some covered areas for those inevitable rainy days. Structures such as pergolas can be built without planning permission if they are up to 4m.
It doesn’t have to just be gardens, make use of any balcony space by getting some seating in.
By seeing these areas in use, potential buyers will be able to visualise how they could be used.
And let’s face it, any bit of extra living space doesn’t hurt.
Now, if you don’t have much outdoor space at all, consider adding a decking area extension. This can make a great area for entertaining as well as enjoying a balmy summer’s eve. And if you’re feeling confident, you can even DIY it.
Live in a flat? Look into installing a balcony. According to research by estate agents Marsh & Parsons, a balcony or roof top extension could add as much as 12% to your property’s value.
14. Add a shed
Like a conservatory, a shed that is well designed can add more value to your home’s property than it costs to build. The exact value it can add has not yet been estimated, but according to 82% property professionals, it is the most likely garden feature to boost your home’s value.
Remember, sheds are not just for storing all your clutter. Get an insulated shed and it can be used as an extra living space, home office, or even a guest bedroom.
Investment-wise, you’re not looking at much here. In fact, an average sized shed can cost as little as £600 and take just a couple of days to build.
15. Buy some adjoining land
For any properties that don’t currently have space to fit an extension, you can consider investing into adjoining land to expand your house.
Don’t forget to get the necessary planning consent though.
To extend your outdoor space, you could create a garden or more space for parking by buying any adjoining land.
16. Create some more off-street parking
Whether it’s alongside or in front of your house, additional parking can add significant value to your property, with Virgin Money estimating that adding a driveway could add £19,000 to the value of an average UK home.
For many potential buyers, a low maintenance drive with well-designed parking has a lot more appeal than a front garden that requires upkeep and doesn’t get much use at all.
If you live on an unclassified road, you won’t even need planning permission for it.
However, you do need to check that you have the right of way for crossing over land you don’t own.
Check your ownership using the HM Land Registry site (for a small fee per search).
To finish off, here are a couple more tips to help you keep your house extension on budget:
Be your own house extension project manager.
By hiring someone to manage your extension project, you’ll be adding around 10% to the total cost.
Save some of this money by doing the necessary management and coordination work yourself.
Sure, it’ll be time consuming.
But the savings can make it worth it.
Find out whether you need any planning permission at www.planningportal.gov.uk.
And you may find that your extension could be designed to fit with your development rights, saving you the time on the planning application as well as the £172 planning fee.