Updated: Jul 5
There are many positive points to adding an addition to your home. Apart from the obvious increase in space, it could increase your home value, which is the goal when moving up the property ladder. On average, adding an addition will add around 5-8% to the value of your house, with Nationwide finding an extension can add up to 23% to the value of your property!
Adding an addition to your home might involve building an addition, converting your attic or garage, or adding an addition to your existing living space. Additions can range from adding a few more square feet to the living room to multi-room, double-storey additions. Some alternations will not need planning permission, while others will need planning permission and the help of an architect and builder. As many more of us are now working part-time from home, you may wish to add an addition to your living space to set up a home office or add more space for a growing family.
The basic cost of an addition is $1,100 to $1,400 per square metre. According to Zoopla, creating an additional room in the loft increases the sale price of the typical home the most, followed by carrying out a garage conversion.
When it comes to just how much additions will increase the value, this depends on the size and quality of the addition. Realtors often consider the number of bedrooms and bathrooms when quoting value, and often floor area is also used. Therefore, it could be adding a significant amount to your home valuation. Therefore, there are many reasons for carrying out an addition within your home, so it is definitely something to consider!