| Add Value To Your Development |
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Which alterations will add value - or at least sale ability - to your property development, and just how far should you go? By Sam Bains
When it comes to property development, research is all important. Before you begin any work on the house you've bought, and ideally before you've even bought it, do lots of background work to find out the following. What's selling well in the area? Three bedroomed houses? Homes with garages? Houses with loft conversions? What are they selling for - and
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what's the difference in value between the most beautifully developed and the house you're interested in? What market will you be aiming at and what are these people's needs? What do local estate agents advise?
Once you've got all the answers and feel satisfied that you are developing your property sensibly, talk to the planning department to check your plans would be approved, set a realistic budget, including extra money for any unforeseen (but inevitable) jobs and a schedule. Then, do your utmost to stick to these.
Exterior Makeovers
First impressions always count. 'Any estate agent will tell you how many people don’t even bother going in to view a house that they dislike on arrival,' says Hugo Tugman founder of Architect Your Home.
So start by improving the curb appeal. 'Opt for a consistent window design, a well-proportioned entrance and a strong roofline. These will give buyers the impression of a house that feels complete and is a sound investment,'.Then change casement windows for sliding sash windows, replace concrete wall tiles with hand-made terracotta and build a porch to give the house self-importance,' he adds.
If your house is really ugly, there are companies that will completely transform your house's exterior. Get ideas at Back To Front Exterior Design.
For More Information
If the loft space of your property is undeveloped it's almost certainly worth converting it. Why? If you've got the budget, it will add value, an extra bedroom and potentially an extra bathroom - all without impacting on the space downstairs or outside. |
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Convert the Loft
The loft space can be as much as 30% of the total floor area of a property and can be turned into a living space by adding windows and stairs. As little as £17,000 could produce a new 6m x 5m attic room with two Velux windows, says Royal Institution of Chartered Surveyors (RICS).
Not all lofts are suitable for conversion. They need to be 2.4m high to allow for steel beams, a suspended floor and a ridge beam which all take space from the room. Georgian, Victorian and
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Edwardian houses loft conversions tend to be simple: big roof spaces easily lend themselves to airy living spaces. With modern homes it’s not so easy because of load-supporting beams which hold the roof up. But it can be done. Contact specialists such as www.trussloft.co.uk for information.
A number of specialist loft companies, including www.loftmasters.co.uk offer a package. They design the extension, draw up the plans and build the loft extension. So this means builder, plasterers, plumbers, electricians and architects are all in place. If you don’t use a loft company you need to make sure the builder you choose has experience of loft extensions. Ask friends and family for recommendations, or visit the Federation of Master Builders’ website which has a database of vetted builders.
You will generally have to upgrade the fire resistance of existing ceiling and doors. You should get your money back by adding a loft conversion and you could add around 10% of the value of your property with the right conversion. Use Econoloft’s calculator to see how much a loft could potentially bump up your property’s value.
Kitchens are seen as the hub of the home, so enlarging to create a multi-functional room will add value. A simple rule of thumb suggests that a good kitchen extension can add between 12% to 18% of the value of a small house. |
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