ISSUE 9/07

Need to increase the value of your home?

Need to boost the value of your home? There are several ways to do so, especially if you want to make your property more attractive before you put it on the market.

The most dramatic way is through an extension, especially if it provides an extra bedroom and possibly a bathroom as well as living space. Louisa Fletcher of propertypriceadvice.com says: "A loft conversion can cost between £15,000 and £30,000 but add up to £180,000 to the value of a house. The same goes for a rear or side extension, which will cost up to £50,000 per room but add much more to the value.”

Other improvements which add value include turning a front garden into car parking. One property consultancy claims that in areas with poor on-street parking, or where residents' permits are scarce; this improvement could add 10% to 20% to a home's asking price.

Lower cost improvements include installing improved flooring. "For the average priced property laminate flooring for the bathroom is fine, but in the luxury market, wood floors in sitting areas and stone in the bathroom are expected" says London estate agent Ed Mead.

More obvious improvements include basic redecoration and replacing highly individualistic fixtures and fittings with alternatives that are universally acceptable. Some owners even go to the length of getting outline planning permission for converting outbuildings into guest bedrooms in order to demonstrate the potential of a property to would-be buyers.

The advice from the professionals is clear – don’t try to do any work to boost a home’s value on the cheap.

"Experienced buyers will not be fooled by cosmetic changes" warns Sarah Van der Noot, a buying agent and presenter of BBC's Would You Buy A House With A Stranger? "If they want to increase the value, sellers will need to do the work properly - or not do it at all."

Article by Graham Norwood