House extensions are one of the most convenient, accessible and affordable ways to grow the space you have at home, but something they are also famed for doing is increasing the value of your property, too. While of course not every extension will add the same value to a house as it would to another, there are still key correlations that can be made between extending your home and boosting the value of your property. The key to doing so is just understanding how it would work for you.
As a good place to start, it’s worth noting that there are a few different ways to try and calculate this information. You can think about your location, the number of floors your extending, the facilities you’re adding, and the number of bedrooms you’ll create, but even without all of that factored in, the great thing about a topic like this is that there is good, hard evidence behind it all too.
Average House Extension Values
Looking at the National Office of Statistics, we can see that back in 2017, the average house extension spanning 25m2 actually added a staggering £59,075 of property value (across the whole of England and Wales), giving some serious insight into the potential these magnificent additions have to offer.
As many of us know, house prices vary massively depending on where you’re located in the UK. That’s why using an average is so useful, but even after this, there are multiple options available on the website for the National Office of Statistics, allowing you to select your region or even your postcode and find out what might have been the case back in 2017.
Of course, prices for properties and for building work have both increased since then, so this figure may be slightly dated, but it does help to make a clearer picture of what is possible with the right architecture.
Try it out for yourself and see how it all works
Factors Influencing How Much Value your Extension will Add to Your Property
Now, while an extension will pretty much always help to increase the value of your property, that isn’t to say it’s that simple. There are numerous different factors that will affect just how much value an extension can add to your property.
Location/Property ceiling Price
One of the primary considerations behind how much value an extension can give to your property is the location of the property itself. Ceiling prices are often a great indicator of what the maximum value of a property in your area might be.
If you are already near this ceiling price in what you paid for the house or what it is worth now, chances are that although an extension might change your quality of life dramatically and give your future selling power a big increase, the immediate property value increase might not be as strong as it could be elsewhere.
This changes on a case-by-case basis, but it is something that is worth thinking about from the get-go.
Size & Number of floors
Extensions come in all kinds of shapes and sizes. They might be single storey, double storey, bedrooms, bathrooms, kitchens, private studios and anything in between. That’s what makes them such a powerfully versatile addition to a property, after all. But it is also something that affects the property value.
The amount of livable space that you are adding to the property is therefore one of the most fundamental value drivers. More livable space generally means more property value, and as such, the bigger the extension might be, the more you should see your house being worth.
When you add another floor to this, that increases tenfold (especially since most upper floor extensions involve bedrooms and bathrooms, which we’ll come onto). The really great thing about these two-floor extensions is that they’re not double the price, either. They still have just one foundation and one roof, meaning that for a proportionally smaller cost, you have even more property value added.
Features Added(bonus for kitchen, bedroom, bathroom)
Generally speaking, the biggest increases to a property value come from the number of bedrooms and the amount of bathroom space that is in the property. This is then closely followed by kitchen space, and finally living space.
The jackpot here is of course a double-storey house extension that adds both a kitchen and a bedroom with an ensuite bathroom, but any variation of an extension should still help to bolster your property value.
