If the primary reason you're planning to embark on a home improvement project this year is to eventually sell at a great price, then you'll want to know the best ways to add value to your home by adding, remodelling, or renovating one or perhaps multiple areas.
However, if the return on your investment is your main concern, not all home improvements are created equal. Some, while they may be very desirable to you, the current owner, may even do more harm than good to your property price.
Most of us have limited resources when it comes to funding a major home project, and typically the choice is between making a few cosmetic changes here and there, or go for one substantial improvement – usually an addition to the existing liveable space. Which one should you go for?
According to brand new research, you should definitely go for the latter renovation idea, and the one home improvement that will almost certainly make a dramatic difference to your home value is an attic – or loft – conversion.
The research into live Rightmove listings* revealed that adding a loft conversion to your home can add almost 20 per cent to its value (or even 25 per cent if you live in a big city where space is limited) – although expert opinion on whether it's always the best option for every house varies.
Does an attic or loft conversion add value to a house?
Attic conversion experts at Abbey Lofts point out that the maximum value add-on of 20-25 per cent will likely be achieved only if you create 'the perfect self-contained sleeping space' in your attic – that is, a bedroom with an ensuite. And this will only work in an area where larger, family homes 'are scarce'. If you already live somewhere where spacious, multi-bedroom homes are abundant, a loft conversion is unlikely to have the desired effect on your house price.
Louis Harding, Head of London Residential Agency at Strutt & Parker, advises to also be aware of the inevitable impact of a conversion on the amount of storage the home will have.
'You will have to consider how you incorporate additional storage space into your home to make up for the storage space you are losing,' he explains. If you are planning on living in your home for a good while longer, adding a loft conversion may simply not be practical enough.
However, having said all that, loft conversions are having a renaissance, not least because home owners are increasingly using theirs as home offices. Once something of a niche offering, a home office is now one of the most in-demand property features, with demand in London alone going up from eight to 27 per cent in 2020, according to Benham & Reeves.
Although converting your loft into a home office won't fetch you as much added value as an ensuite bedroom – 10 per cent as opposed to 20 – it is also likely to be at the cheaper end of the typical loft conversion cost, so can still be well worth the investment.
* Research conducted by Flooring Superstore
Best cast iron cookware: Cast iron pans, skillets, Dutch ovens and more for all your cooking needs
The best of the best to round out (or start) your cast iron cookware collection, from skillets to Dutch ovens
By Jaclyn Turner •
Bissell ICONpet cordless vacuum review
I love my pup just as much as every other dog owner, but when it comes to pet hair, I prefer to hide the evidence. The Bissell ICONpet Cordless Vacuum does the trick – and then some
By Courtney Irwin •
Hayley Williams' home in Nashville is a modern Mid-century masterpiece
The Paramore star is parting with one of her quirkily designed Tennessee homes
By Anna Cottrell •
Marie Kondo reveals her favorite room to organize – and her secret to staying motivated in challenging spaces
Even the queen of organization has her favorite spaces to clean – here she shares her secrets with H&G
By Marc Lupo •
Introducing ‘Bootilities’: The trend that prioritizes practicality without sacrificing style
What are bootilities and why do you need one in your home? This is what you need to know, according to the experts
By Megan Slack •
WIN a wood-burning stove worth £1,995 in our Contura competition
Get your home ready for colder months ahead with this fabulous competition prize from Contura and Period Living
By Melanie Griffiths •
8 of the best places to buy property in Europe – for your next vacation home
These are some of the best places to buy a second home in Europe, according to real estate experts
By Ruth Doherty •
WIN a VAX Total Cleaning System worth over £1,000 in Roost episode 12
Roost episode 12 is full of great advice, like what the best bed sheets are, how to plant succulents and you could WIN a VAX Total Cleaning System worth over £1000
By Jenny McFarlane •
Farrow & Ball’s 2022 color predictions are guaranteed to revive your interiors
Color curator Joa Studholme invites you to extol the virtues of a simple life with a whimsical forecast for the year ahead
By Megan Slack •
You should never paint your living room this color, according to a psychologist
Your choice of hue impacts your wellbeing – here's how to get it right, in the most sociable room of your home
By Megan Slack •