HOW TO ADD VALUE TO YOUR HOME

From room refits to major builds and outdoor updates, these projects are fail-safe ways to boost your home’s asking price

- Andrea Dean

The most successful improvements are those that not only maximise space and light - making your home more functional, attractive and comfortable for your family - but that also boost its value. According to Rated People, adding value is one of the top three reasons why people want to make changes to their properties, though certain upgrades affect the price far more than others. Whether you're thinking of putting your home on the market soon or planning for the long term, these are the projects to consider.

BUILD AN EXTENSION

A recent report by Nationwide revealed that a 10% increase in floor space typically increases a property's value by 5%, and that an extension can boost it by up to 25%. Depending on the complexity of the job, you should expect to pay from around £45,000 for a single-storey rear extension and from around £75,000 for a double-story addition. For the best returns on your investment, the new space should be usable for example an open-plan kitchen/diner or a family room. But before you jump in, it's worth doing some research on the ceiling price that is, the maximum a buyer would be prepared to pay for your house (look at house prices in your area). If this is less than the cost of the work and the current value combined, you might want to rethink your plans.

2 EXPAND INTO THE LOFT