Property value and home extensions go hand in hand. Homeowners and property developers alike are constantly seeking ways to increase the value of their properties. One approach that has consistently proven its worth is adding a well-planned home extension. In this blog post, we’ll delve into the benefits and intricacies of home extensions, helping you comprehend their potential to enhance your property’s value.
Considerations to make
When contemplating a home extension, several crucial considerations need to be made to ensure a successful project. Let’s explore these key factors:
- Types of home extensions: Home extensions come in various forms, from single-storey additions to multi-storey expansions. Understanding which type suits your property and needs is the first step in enhancing its worth.
- Designing your extension: The design phase is critical to a successful home extension project. It’s here that you can maximise space and functionality, ensuring that the new addition seamlessly blends with your existing property.
- Market trends in property value: Keeping an eye on market trends can help you make informed decisions. Understanding how extensions align with current property value trends can influence your investment choices.
- Budgeting for success: Effective budgeting is key to a stress-free extension project. Understanding the costs involved and allocating resources wisely will contribute to a successful outcome.
- Choosing the right contractors: Selecting experienced and reputable contractors is paramount. Their expertise will determine the quality of your extension and its impact on your property’s value.
- Legal and regulatory considerations: Navigating the legal and regulatory aspects of home extensions is crucial. Compliance with local building codes and permits is essential to avoid complications down the line. You can find information on Shropshire’s building codes on the Shropshire Council’s website.
Benefits and ROI of extensions
One of the most compelling reasons to invest in a home extension is the impressive return on investment (ROI). According to data from Spring 2020, the average ROI for an extension in the UK was an impressive 71%. This translates to an average profit of £14,000 generated by building an extension. These figures highlight the financial value that extensions can bring to your property.
Adding value for resale
Whether you plan to stay or sell, a well-executed home extension can significantly increase your property’s resale value. It’s an investment that pays off in both the short and long term.
As you consider the value of a home extension, we invite you to explore OWD Group’s services. With our expertise and dedication to excellence, we can assist you in transforming your property. Feel free to get in touch with us for a free quote and take the first step towards realising the full potential of your home. Visit our contact page for more details.
For more information and inspiration, please visit our website, where you can explore our portfolio and discover how we’ve helped homeowners and property developers alike. Your property’s worth is within reach – let OWD Group help you unlock it.