Lofts and extensions add most value

[brian]

Interesting report from the BBC about loft conversions and extensions adding the most value to a home:

http://news.bbc.co.uk/1/hi/business/5020404.stm

A loft conversion or having an extension built are two of the most effective ways to boost the value of a property, a survey has suggested.

On average, an extension adds 12% and a loft conversion 10.9% to a property's value, the Nationwide Building Society survey found.

Adding a garage or extra bedroom boosts value by 8% and 5% respectively.

But the group added that regardless of work done to a property, location was key to its price on the open market.

[Jayne]

We thought of a loft conversion, but unless you do the work yourself they are very expensive, not really worth doing if you have to pay someone else, so we didn't bother.

Jayne

[brian]

Certainly they can be disruptive - I really wanted to put an extension on our old house, but there was trouble with ownership which meant I couldn't even modernise and decorate it while living there, and once we'd moved out it was too far away to do anything but look for the quick sale. Ouch.

[John]

It doesn't surprise me, and any major work that involves adding to the properties space will add significant value. Whether a loft conversion, conservatory or garage, the added space will make it an appealing proposition for a larger family than could previously occupy.

Extensions are great if you have a modern house, but many can look a little misplaced, particularly on older buildings due to the change in brickwork. Conservatories aren't quite as naturally flowing as an extension, but are far more disruptive and add an extra something, which is particularly effective if you have a large, well-kept garden.

[brian]

Good points, and welcome to PW, John.

[John]

Thanks Brian, some excellent discussion here already, so I'm looking forward to sticking around

[sweet_mayhem]

hey, thanks for this thread--for those suggestions, too. i'm really learning a lot just by reading your comments guys.

[vicki2]

I like loft conversions if they don't change the exterior of the building outside of a couple of discreet windows. Conservatories are a whole different thing though. How many really bad ones do we see? Alot!!!! They're just stuck on!

[brian]

We've got loftspace and room for a conservatory - but key issues for me is whether the cost of developing them would justify the investment.

Also - do we really need either.

[dan.gerous]

A loft conversion seems a great way to make extra space, unfortunately most people seem to do them with total disregard to how the house will look when putting in awful dormers etc.

What is it with the roof cladding effect for the walls that is commonly used, yet looks hideous?

Great site by the way, I have been enjoying reading my way through the various posts.

Dan