Home improvements that have ‘significant impact’ on your property price – how to add £15k

Property: Phil Spencer discusses the current market for 2021

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With Britons having spent more time in their homes than ever in the last year, many have turned to home improvements like sprucing up the garden or adding a lick of paint to walls. Many have also looked into moving home, but what improvement could add the most value onto your home

According to an analysis by Shawbrook Bank, the number of people searching for “home renovations” online hit a new high.

The home improvement loan provider has shared three home changes with Express.co.uk that could add a huge 16 percent value onto your property. 

A well-designed kitchen is just one room in the home that can attract buyers and potentially increase the value of the home.

According to the experts at Shawbrook Bank, a kitchen extension to create a large kitchen diner could add a huge £11,514 to a property’s value.

For homeowners who don’t want to go through building work, a newly renovated kitchen could still add £10,649.

The next room in the home which could add a huge £13,000 to the value is converting a loft space.

Converting a loft space is a great way to create more space as it can be turned into an extra bedroom or office space. 

It is also a cheaper way of making the home bigger, without having to move altogether. 

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The experts explained that if you’re not able to build an extension, converting lost space could be much cheaper and a lot more straightforward.

Homebuyers say a loft conversion is worth £12,951, equating to around 5 percent of the average UK house price.

Further research from Nationwide Building Society found that adding a double bedroom and a bathroom in the loft could add more than 20 percent value to a home.

The home improvement which could add the most value to your home is building an annex.

Having more space is becoming increasingly popular for homebuyers, whether it be for a separate office or a home gym.

According to Shawbrook Bank, adding an annex to a property could increase the property value by £15,000.

A recent survey found that an annex is the most valued home improvement, equating to 5 percent of the average UK house price.

However, this could be more if the annex is bigger or even self-contained.

Sally Conway, Head of Consumer Communications said: “Whatever your budget, making small or large improvements to your home can have a significant impact on the value of your property.

“Whether you’re looking to add appeal for potential buyers, or you want to give your home an upgrade to enjoy yourself, investing in your home could be one of the best decisions you make.

“We’ve seen a rise in demand for home improvement loans in the last month, with Brits clearly tiring of spending so much time at home and many eager to take on a new challenge.

“From kitchen revamps to full on extensions, now could be the perfect time to give your home a facelift, ready to welcome friends and family back as soon as restrictions lift.”

The home improvement loan provider company also found some improvements that aren’t always worth doing if you’re looking to add value to your property.

This included garden accessories, open plan living and garage renovations.

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