From James Lockett

Research by MoveStreets, the property portal designed for the mobile generation, has shown that garden offices, garage conversions and kitchen renovations are money well spent when it comes to adding value to your home, while loft conversions and solar panels will actually cost you money when you come to sell. 

The research shows that: –

• The best way to add value to your home is with a garden office. On average it will cost you almost £9,000 to complete, but it will add 8.4% to the value of your home. That’s £22,739 in the current market, meaning an overall value boost of £13,752 once the cost of the work is accounted for. 

• A garage conversion is also a smart addition to your home, costing £14,500 but adding £27,071, leaving £12,571 in added value. 

• Updating your kitchen could add just shy of £15,000 to the value of your home and will cost around £8,500 to do, leaving a profit of over £6,300.

• Other projects that add value once the cost is accounted for include adding a conservatory (£6,000), redecorating your home (£5,500), renewing your boiler (£2,600), upgrading your bathroom (£2,000), replacing your windows for double glazing (£1,500) and replacing your roof (£892). 

• Landscaping your garden does add some value, but once the cost of the work is accounted for this added value sits at just £40. 

• However, those considering fitting solar panels or a loft conversion may want to think again. Doing so will actually cost you around £5,000 once the cost of the work is accounted for, so it’s probably not worthwhile if you’re thinking about selling in the near future. 

You can read the full release below but for any further info please get in touch with:

James Lockett

M: 07584 248960

T: 0207 856 0185

E: [email protected]

ProperPR

The home improvements that will add the most value when you come to sell

Research by MoveStreets, the property portal designed for the mobile generation, has shown that garden offices, garage conversions and kitchen renovations are money well spent when it comes to adding value to your home, while loft conversions and solar panels will actually cost you money when you come to sell. 

The property market is off to its best start in 17 years and there’s arguably never been a better time to sell your home as stock levels remain low, buyers continue to flood the market and house prices continue to climb.

But when it comes to maximising the value of your home in current market conditions, not every renovation project will add as much value as you think, particularly when you consider the cost of carrying it out. 

MoveStreets looked at 12 common property projects, how much value they add to your home based on current market values and what’s left once you account for the cost of the work involved. 

The research shows that the best way to add value to your home is with a garden office. On average it will cost you almost £9,000 to complete, but it will add 8.4% to the value of your home. That’s £22,739 in the current market, meaning an overall value boost of £13,752 once the cost of the work is accounted for. 

A garage conversion is also a smart addition to your home, costing £14,500 but adding £27,071, leaving £12,571 in added value. 

Updating your kitchen could add just shy of £15,000 to the value of your home and will cost around £8,500 to do, leaving a profit of over £6,300.

Other projects that add value once the cost is accounted for include adding a conservatory (£6,000), redecorating your home (£5,500), renewing your boiler (£2,600), upgrading your bathroom (£2,000), replacing your windows for double glazing (£1,500) and replacing your roof (£892). 

Landscaping your garden does add some value, but once the cost of the work is accounted for this added value sits at just £40. 

However, those considering fitting solar panels or a loft conversion may want to think again. Doing so will actually cost you around £5,000 once the cost of the work is accounted for, so it’s probably not worthwhile if you’re thinking about selling in the near future. 

Want to find out how much your home is currently worth? MoveStreets has just launched its instant valuation tool, working closely with great local estate agents to provide an accurate market valuation that takes your property’s unique features into account.

Check it out and see what your home is worth in a matter of minutes at https://landing.movestreets.com/valuations/  

Data tables Average property values sourced from the UK House Price IndexAdded value % of each project sourced from HiscoxCost of each project sourced from Household Quotes, My Job Quote, Checkatradeand Homehow.

END

Notes:

• MoveStreets is the property portal for the mobile generation, providing a quick way to search for the perfect home by allowing buyers and tenants to swipe right on homes that appeal to them 
• MoveStreet was co-founded by Adam Kamani, CEO of the Kamani Property Group and KM Capital as well as a co-founder of PrettyLittleThing, and sold to Boohoo.com
• MoveStreet has already had 50,000 downloads of its app in just 12 months
• MoveStreet currently lists 40,000 properties across over 400 agency branches