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Loft conversions at the top of most valuable projects

Homeowners have enjoyed double-digit house price growth this year, but those looking to sell up may still be wondering how they can further boost their home’s asking price.

New research* has revealed which projects are likely to add the most value. Whether you’re planning extensive renovations or finishing touches, it’s important to think about which projects to prioritise.

Value for money

A loft conversion might be a worthwhile project. This adds valuable space to a property and can boost a home’s value by as much as 20%. Based on an average property value of £255,000, this is an increase of almost £51,000. Once the work costs of around £33,000 are factored in, this could leave you more than £17,000 in profit.

Keep things simple

For a smaller project, a downstairs toilet can add 5% (or approximately £12,700) in value. With a cost of £3,000, that’s a profit of over £9,700. Similarly, a new kitchen could add £14,000 and leave you £6,000 in profit once costs of £8,000 have been factored in. Other projects that add value after work costs include an extensive lick of paint (almost £5,000), a new boiler or central heating (£2,463), a new roof (£2,393), a conservatory (£2,206), a new bathroom (£1,195) and double glazing (£1,389).

Be wary

There are, however, some projects that might leave homeowners out of pocket. For example, installing solar panels will set you back over £2,700, nearly £1,500 higher than the expected boost to value (£1,273). Figures for all improvements may vary widely according to the size, type and location of the property; estimates and valuations are advisable.

* GetAgent, 2021

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