Ten of the best ways to add value to your home
- 1. Convert your cellar Potential Value Added: Up to 30% ...
- 2. Split a house into flats Potential Value Added: 30% ...
- 3. Convert your garage to living space Potential Value Added: 15% ...
- 4. Extend the kitchen with a side-return extension ...
- 5. Loft conversion to add a bedroom ...
- 6. Increase living space with a conservatory ...
- 7. Apply for planning permission ...
- 8. Kerb and garden appeal ...
Should I convert my basement to add value?
Convert your basement If you want extra space but your home won’t go wider, longer or higher, and you can’t face the upheaval of moving, look down: converting your basement could be the best way to add space and value to your property. First, work out how you’ll use the space, as this will affect how it’s designed and built.
Could a garage conversion add value to your home?
If your garage has become a dumping ground for clutter, it’s time to rethink the space. You could simply clear it out or, if you want to add space and value to your home, a garage conversion could be the answer. It’ll give you extra room that’s tailored to your needs and could also increase your property’s value by up to 10 per cent.
Why choose new concept 180 for basement conversion?
At New Concept 180, we have assisted many clients in the basement conversion process. We’ve seen just about every type of situation, so we know we can assist you with yours. The advantage we have over competitors is that we’re a design-build company with all the experts we need to complete your project on time, on budget and to your specifications.
Is cellar worth converting?
Is a Cellar Conversion Cost Worth It? Absolutely – the average cost of cellar a conversion will be more than offset in the value that's added to your home. Studies carried out by the Nationwide Building Society have found that homes could benefit from a revenue boost of between 15% and 20%.
How much value does a basement remodel add?
The appraised value of finished basement space is generally 50% to 60% of the value of the main level square footage. To maximize the cost/value ratio, the market experts recommend keeping the basement budget below 10% of the existing home's value. Staying between 5-10% is a good plan.
Do basements add value to a home?
In the United States, on average, finishing a basement will give you a return of 70 to 75% of your investment. For example, if you spent $1,000 on improvements, it would increase the value of the property by about $700. If you spent $10,000 on improvements, it would increase the value of the property by about $7,000.
Do basements add value to a home UK?
How much value does a finished basement add? Finishing a basement adds living space and increases the value of a property significantly. It's possible to add up to 20 - 30% of value to a property with a basement in the United Kingdom.
Does adding a bedroom in the basement add value?
Because basement bedrooms are not accounted for in the gross living area space, they are valued separately as an additional line item on an appraisal. As such, you can expect the value of a basement bedroom to be in the range of 50%-70% of the value of a traditional above ground bedroom.
Is a finished basement considered living space?
While a finished basement is considered living space where your property value is concerned, it's only in rare instances that this living space is counted towards the square footage. Even if your basement is not an exception to the rule, a finished basement is an asset to your property value.
Does bathroom in basement add value?
Adding a bathroom to your basement makes it livable space, which increases the overall market value of your home. A bathroom in your basement can also be a huge selling point for buyers if you are ever looking to sell. When a basement is unfinished with no bathroom, buyers look at the basement as wasted space.
What adds value to a home?
8 ways to increase the value of your homeClean and declutter. ... Add usable square footage. ... Make your home more energy-efficient. ... Spruce it up with fresh paint. ... Work on your curb appeal. ... Upgrade your exterior doors. ... Give your kitchen an updated look. ... Stage your home.
Should I finish my basement before selling?
Although finishing your basement may not add to the legally livable space (and square footage) of your home, finishing your basement will still add to your home's market value and appraisal value—ultimately, helping you sell for much more.
How much does a cellar conversion cost UK?
Conversion of an existing cellar: £750 – £1,400 per square metre. Lowering the floor level and underpinning an existing cellar: £1,500 – £2,000 per square metre. Digging a new basement space and underpinning: £2,000 – £3,000 per square metre.
How long does a cellar conversion take?
Converting a simple single-room cellar using a waterproof membrane cavity system (more on this later) can take just two or three weeks, including digging out the sump and fitting the pumping system. However, converting and extending the cellar, including lowering the flooring, can take several months.
Does cellar conversion require planning permission?
If you are converting an existing basement or cellar into living space, without any exterior alterations, you are most likely not require planning permission. However If the basement is going to be used as a separate unit of residential accommodation it will require full Planning Permission.
Does a finished basement add value to appraisal?
In terms of home value, finished basements aren't as valuable as main-floor living space and above-grade bedrooms (“above-grade” refers to a room that's located higher than ground level — that could mean on a main floor or upstairs, just not in a basement).
Does adding a bathroom in basement increase home value?
Adding a bathroom to your basement makes it livable space, which increases the overall market value of your home. A bathroom in your basement can also be a huge selling point for buyers if you are ever looking to sell. When a basement is unfinished with no bathroom, buyers look at the basement as wasted space.
Is a basement included in square footage?
Does a basement count toward overall square footage? As a general rule of thumb, listing agents and appraisers don't count a finished basement toward the overall square footage, especially if the basement is completely below grade—a term that means below ground level.
Should I finish my basement before selling?
Although finishing your basement may not add to the legally livable space (and square footage) of your home, finishing your basement will still add to your home's market value and appraisal value—ultimately, helping you sell for much more.
What is the best way to add space to a house?
If you want extra space but your home won’t go wider, longer or higher, and you can’t face the upheaval of moving, look down: converting your basement could be the best way to add space and value to your property.
Is it better to move or alter your home?
With rising house prices, many of us have chosen to alter our current homes instead of moving. However, not all changes are for the best: when it comes to home improvements, bigger is better in terms of added value. We reveal which alterations will make the biggest impact on your daily life and your property’s value.
Can an extension be used to transform a room?
An extension isn’t the only way to transform your living space. You can also make big changes by creating removing inside walls to create a fresh, open-plan space.
Is a garage conversion a big job?
Then it’s time to focus on practicalities. A garage conversion needn’t be a big job, but it’s one that can trip you up if you don’t get the basics right, such as checking whether you need planning permission.
What do you need to know about basement conversion?
Everything you Need to Know About Basement Conversion for Your Home. Converting your basement into usable living space is gaining popularity, as is excavating under the home to create a basement for any number of uses. Homeowners are faced with decisions when it comes to a home improvement project. Some build up. Others build out.
Why is a basement renovation based on walls and foundations?
This is due mostly to the fact that water is the enemy of just about any basement project. The foundation serves multiple services – it secures the basement and everything above it.
What are the pros and cons of a basement remodel?
One of the biggest cons of a basement remodel includes the cost, especially if it involves moving earth, installing waterproofing and doing extensive foundation work. Even if you’re renovating an existing basement, you still have to contend with ventilation and plumbing, which adds time and money to the project.
Is a basement conversion a big project?
There is no doubt that a basement conversion is a big project; probably one of the largest a homeowner will face aside from a whole home renovation. Consider the following information to help you make your decision about whether or not to pursue a basement conversion .
Do basement conversions add value to your property?
Yes! Because you’re increasing the amount of livable space in your home, you will increase your home’s resale value. Keep in mind that if you go all out and spend a lot of money on your conversion, it will impact your return on investment.
