Wednesday, April 7, 2010

Adding Value to Your Property - Part 1


Rising property prices and the premium being placed on space, makes extensions a wise investment. However, extending a property is a major project and shouldn't be undertaken lightly. Call in professionals to get the job done properly as there are important planning restrictions and regulations, which need to be followed. Ask friends to recommend reputable builders and an architect. If an extension is botched, it could end up devaluing a property rather than adding value.

An extension should match the architectural style of the existing house. Extra bathrooms and large kitchens are usually good investments in family-sized homes and a garage in a busy, urban area will also add value. A good extension could add thousands to the price of a property.

The room that usually benefits the most from enlarging is the kitchen. Adding a kitchen diner creates the farmhouse kitchen most people want and gives extra space. The old dining room can become an office, playroom, or somewhere to set out a model railway. Better still, build above the kitchen extension to add an extra bedroom at the same time.Victorian or 1930s houses are ideal for loft conversions because of their high roof pitches. Prices will vary depending on how many bedrooms are added and whether an en-suite is required. A loft room will require less planning and building requirements than a bedroom. So do the research and speak to chartered surveyors and architects!

If there isn't a reason to expand, why not get a further advance on a mortgage and give the house a dream makeover. A new kitchen, bathroom and carpets will revive the passion in the property and increase its value at the same time.

Joseph Talbot, ABR®, ASA, SRES®, AGA, SRS®
Peak Lifestyle Realty Ltd., Brokerage

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