When it comes to house extensions and conversions, property owners tend to fall into one of two categories. Those looking to stay in their home for years to come and benefit from the results first-hand; and those investing in property improvements with an eye on selling at a profit in the near future. On this page, we focus on the latter. If you’re searching for building contractors in Tonbridge with a proven record for creating stunning loft conversions, garage conversions and home extensions, The Loft Company (Construction) Ltd can help.
With FMB membership, as well as over 20 years of combined trade experience, our company delivers attic conversions and much more on time, within budget and to the very highest of standards.
Below, we have looked at how our house extensions, as well as loft and garage conversions, can help to increase the resale value of your property in the Tonbridge area.
Along with house extensions, converting a loft or attic space remains one of the most popular and effective ways to increase the living space at an existing property. No two attic conversions are the same, so there’s no universal figure for your increased value. Factors like location, property age and type as well as the quality of the work completed by your building contractors all have an impact.
The type of room that loft conversions become also has a significant effect on how much your home’s resale value rises.
A study performed by Nationwide found that, on average, attic conversions which added a new bedroom and en suite bathroom increased the value of a home by 21%. If you’re considering investing in one of our loft conversions to maximise the market value of a property in Tonbridge, this represents the most lucrative approach.
When compared with house extensions and attic conversions, having building contractors repurpose your garage represents the most cost-effective way to create new habitable space. What’s more, garage conversions are far less prone to the planning complications that sometimes arise with larger construction projects.
According to research, only 22% of vehicle owners park their car in a garage – and this number is only shrinking. What’s more, approximately 4 million garages have undergone conversion in the last 20 years alone.
On average, garage conversions add around 10% to resale value. But the same variables that apply to loft conversions will also influence the final figure for your Tonbridge home. Once again, an additional bedroom makes for the most profitable choice, with an extra bathroom following close behind.
House Extensions | How Much Increase in Value?
When considering options for a property addition to increase the market value of a home, you must research the ceiling price in your area first. This is the maximum amount prospective buyers will pay for a property in a specific location, regardless of the work your building contractors have carried out.
This knowledge can help you focus on what home extensions best suit your needs. For example, in some cases, a single-storey addition might represent a better investment than a double-storey structure.
Much like attic conversions and garage conversions, house extensions which create a new en suite bedroom produce the largest rise in market value. On average, however, when not exceeding the ceiling price, a double-storey extension has the potential to add as much as 11% to your Tonbridge home’s resale value.