If you’re interested in selling your home, you’re probably wondering how to boost its value, with house prices across Britain increasing at the slowest rate since late 2012*. But with the number of renovation options available, at a range of different costs, home improvements can be a bit of minefield.
That’s why we’ve teamed up with a panel of our builders, interior decorators, plumbers, gardeners, home staging experts, estate agents and property surveyors to outline the best renovations/additions that help homeowners secure the highest possible asking price for their home, along with how much each improvement costs on average.
Through analysing cost data from our home improvement experts and average valuations from our property surveyors and estate agents, Bark.com has revealed that members of the public could add £130,900 by spending just £70,200 on the below renovations:
- Ensuite bathroom – costs £2,000, adds £5,000 to your home on average
- Open fireplace – costs £1,500, adds £3,000 to your home on average
- Garage – costs £13,000, adds £25,000 to your home on average
- Modern fitted kitchen – costs £5,000, adds £10,000 to your home on average
- Loft conversion – costs £20,000, adds £43,000 to your home on average
- Conservatory – costs £11,000, adds £15,000 to your home on average
- Bedroom extension – costs £10,000, adds £19,000 to your home on average
- Underfloor heating – costs £4,000, adds £6,000 to your home on average
- Fitted wardrobes – costs £3,000, adds £4,000 to your home on average
- Jacuzzi bath – costs £700, adds £900 to your home on average
According to the experts, the most valuable addition is an ensuite bathroom, costing on average £2,000, yet increasing the value of a property by £5,000. If a homeowner was willing to do extensive building work, a loft conversion yields the highest return on average.
Kai Feller, co-founder of Bark.com, said:
“Selling a house can be a complicated process, especially when it comes to trying to please potential buyers. However, there are several steps homeowners can take to add as much value to a property as possible.
“We’ve been monitoring the demand of our home improvement service providers and decided to do some research into the effect these services have on house prices. Some of these changes are small, such as adding an ensuite or a fitted wardrobe, but research has shown that they really do make a huge difference to potential buyers.”