Lifestyle
The projects that add the most value to your home when selling – and the ones that don’t
Research by the estate agent comparison site, GetAgent.co.uk, has revealed which household renovations will add the most value to your home once you’ve accounted for the cost of the job itself.
The housing market looks set to keep sizzling this summer, as the latest Nationwide house price index revealed yet another month of double-digit house price growth last week.
But if you’re looking to boost the asking price of your home even further, it’s important to know which projects will add value in the eyes of a potential buyer. However, it’s also important to think about the cost of a project and if it will actually add value once the dust has settled.
GetAgent analysed 11 common renovation projects, the value they add and the cost of the job to reveal which will actually boost the price you achieve for your home.
What to avoid
In terms of the most valued added, landscaping your garden may add an average of £3,565 to your home but with the average cost of the job coming in at £5,000, it could also leave you £1,435 out of pocket.
Solar panels are the only other renovation that could cost you money on a sale, with the average fitting cost totalling £2,727 but adding just £1,273 in value.
What’s worth it?
The best way to add value to your home is with a loft conversion. Effectively adding an additional level to your home, this additional space could boost your property’s value by 20%. That’s an increase of nearly £51,000 and while the work will set you back just over £33,000 on average, you’re still left with more than £17,000 in added value.
A downstairs toilet is thought to add 5% in value, that’s £12,731, while costing just £3,000 on average – a profit of £9,731.
Similarly, a new kitchen could add £14,000 to the value of your home, requiring an average budget of £8,000 and adding £6,000 once the cost of the work has been accounted for.
(Image: Wikimedia / NuProjects.co)
A simple but extensive lick of paint is the third best way to add value to your home. On average it will set you back just £2,900 but could add as much as £7,893, a £4,993 boost to the value of your home.
Other projects that will add value once the cost of the work is accounted for include a new boiler or central heating (£2,463), a new roof (£2,393), a conservatory (£2,206), a revamped bathroom (£1,195) and double glazing (£1,389).
Founder and CEO of GetAgent.co.uk, Colby Short, commented: “All too often we plough money into our homes without considering whether it will add real value in the eyes of a buyer, as well as the cost of the job in relation to the potential return.
“The best plan of attack is to focus on what appeals to a buyer and this is always going to be more space, particularly in the post-pandemic property market. A loft conversion, extension, conservatory or additional toilet will all help increase the appeal of your home and potentially the price you will achieve when selling.
“Providing further solid foundations such as a new boiler, roof or windows is also a safe bet as they will save a potential buyer the hassle of organising the work themselves.
“Of course, it’s important to have a clear plan and budget when carrying out renovations to your home. The value added will differ from one property to the next and so there’s no guarantee you will see a return on your investment just because you’ve ploughed a sizable amount of money into renovations.”
If you want to know how much a particular renovation could add to the value of your home, GetAgent has a handy online tool that can help you plan.
Table shows the value added by each renovation project, the increase in £, the average cost of each job and the value added once this has been accounted for.
Home area % value added Potential increase £ Average costs to renovate Added value minus cost Loft conversion 20% £50,925 £33,444 £17,481 Adding a downstairs toilet 5% £12,731 £3,000 £9,731 Kitchen renovation 5.5% £14,004 £8,000 £6,004 Full basic re-decoration (bedrooms and living room) 3.1% £7,893 £2,900 £4,993 New Boiler and/or central heating 1.9% £4,838 £2,375 £2,463 Roof renovation 3.1% £7,893 £5,500 £2,393 Adding a conservatory 6.0% £15,277 £13,071 £2,206 Bathroom renovation 2.6% £6,620 £4,625 £1,995 adding double glazing 3.0% £7,639 £6,250 £1,389 Garden landscaping/renovation 1.4% £3,565 £5,000 -£1,435 Fitting solar panels 0.5% £1,273 £4,000 -£2,727
Qatar Airways’ return to Cardiff Airport should be “upmost priority” say Welsh Tories
Minister says ‘ambitious’ building safety programme will make residents feel ‘safe and secure in their homes’
New pipe provides safe crossing for otters under busy Kidwelly road
Eight arrested as illegal rave is halted near Llandovery
‘Few exemptions’ to Welsh Government’s 20mph rules in Swansea say council
Off-plan sales launch at racecourse set to be odds-on favourite with buyers say builder
Inhaler project is breath of fresh air for patients and the planet
Two missing cats found following Morriston gas explosion
Police dive team and coastguard resume search for missing Pembroke Dock man
A new Swansea creative network and a reimagined Creative Bubble are on Swansea Conference agenda
Fight on Neath train left so much blood in carriage it had to be taken out of service to be cleaned
Swansea University named happiest university in Wales – and third happiest in the UK, according to AI analysis
Motor industry entrepreneurs promise city jobs boost in Swansea office expansion
Port Talbot shop assistant says her ‘dreams have come true’ as she becomes high-end jewellery designer
Two hospitalised after Horton garage fire
Operators of Swansea’s proposed skyline leisure destination are asking the public to share their views
Roan Crocker: The Swansea boy taking amateur Mixed Martial Arts by storm
Loughor 15-year-old is finalist in Miss Teen Great Britain competition
Six fire crews called to Gower barn fire
Eurovision star Sam Ryder to play Swansea’s Singleton Park
-
Swansea6 days agoSwansea University named happiest university in Wales – and third happiest in the UK, according to AI analysis
-
Business6 days agoMotor industry entrepreneurs promise city jobs boost in Swansea office expansion
-
Gower6 days agoTwo hospitalised after Horton garage fire
-
Morriston5 days agoCouncil worker Keith praised for bravery after Morriston explosion rescue
-
Swansea3 days agoWelsh Government announces £4m investment in Swansea Skyline development
-
Swansea1 day agoNew location announced for Swansea’s Krazy Races soapbox derby
-
Environment6 days agoCampaigners’ Kilvey Hill ecology concerns addressed say Skyline developers
-
Gorseinon1 day agoGorseinon man handed 10-year extended sentence for a string of sexual offences