Taunton and South Somerset Living Dec 2022 - Jan 2023

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only a relatively small outlay of around £1,500-£2,500 you could add around £26,000 to your home’s value, according to our research. 5. Make way for an en suite Another way to add extra bathroom space is to carve some space out of your master bedroom to create an ensuite. The job should take around 11 days but could add £14,525 to the value of the average London home. 6. Create a parking space We love green front gardens but if parking is at a premium in your neighbourhood, then paving over part of your front garden to create space for off road parking could significantly boost your home’s value. A parking space can add as much as 13% to the value of your home according to Direct Line. You’ll need to check with your local council to see if you need planning permission to do this. Usually, if your home isn’t on an A or B road you won’t need permission, but you will have to comply with your local authority’s regulations on dropping the kerb. 7. Spruce up your back garden Gardens are often overlooked when property projects are concerned but ploughing some money into your green space can be rewarding. Our analysis found that adding decking and lighting to your back garden can really boost the asking price when a property goes on the market. 8. Decorate If you are planning to put your property on the market make sure you give it a fresh lick of paint first. Don’t understand the importance of kerb appeal by updating the exterior of your home. Getting professionals in could set you back around £1,000, but it could add £5,000 to your home’s value, according to property expert Phil Spencer. 9. Convert your loft Homeowners looking to add floor space could significantly add value to their home. 10. Get planning permission If you are preparing to sell your home and can’t afford a big project to boost the value, you could consider just getting the planning permission. Buyers are prepared to pay quite a premium to avoid the paperwork involved in an extension and to know red tape won’t stand in the way of their plans and allowing them to start works the minute they pick up the keys. Submitting a basic planning application costs up to £400 but could add as much as 10% to the value of your home, according to insurance firm Hamilton Fraser. Get help submitting an application from a local planning consultant. And finally, before you start, ask the experts Improving your home to make it more enjoyable is a benefit for you and your family today. Opting for a project that will also give you a big financial boost when you sell only adds to the benefits. However, if your primary aim is to add value to your home then you should consult an expert first to make sure you’ll get a return on your investment. Invite a few estate agents to value your property and ask them what they think will add the most value. The best local agents will be able to tell you what refurbishment projects other homes on your road have benefited from and how much value those projects added. www.hoa.org.uk www.minervamagazines.co.uk | 23
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Taunton and South Somerset Living Dec 2022 - Jan 2023

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