How Much Value Does an Extension Add to Your Home?

The value added by an extension to your home will depend on several factors, including the size and quality of the extension, what type of room it is, the location of the property, the demand for extra space in the area and the specific needs and preferences of potential buyers. The value an extension adds can therefore vary significantly depending on its size and the number of rooms added. So, while it is challenging to provide an exact figure, it is important to note that a well-designed and well-executed extension will almost always add value to your home.

Extend my house or move home?

With changing planning permissions and the rise in stamp duty costs, home extensions have emerged as a highly appealing and cost-effective solution for homeowners seeking additional space. Rather than opting to move to a new property, many home owners are now favouring extending their house. These extensions provide a practical alternative to moving as they allows households to create the extra space they need without the hassle and costs of selling a home.

The attractiveness of home extensions lies in their ability to adapt to evolving household needs while also being more economical alternative to moving to a larger home. By expanding the existing property, homeowners can customise the extension to suit their specific requirements, whether it’s adding extra bedrooms, a larger kitchen, or a dedicated workspace. This flexibility ensures that the extension meets the unique needs of the household, enhancing their overall living experience.

Furthermore, the cost considerations associated with moving home, such as stamp duty, legal fees, and estate agent commissions, can be substantial. By choosing a home extension, homeowners can avoid these expenses and allocate their budget towards the actual construction and design of the extension. This financial advantage makes home extensions a more viable and attractive option, allowing homeowners to achieve their desired extra space while maximising their investment.

What types of extensions add value?

A house extension that adds living space on to your house, either by adding a new structure or converting a non-living space should add value.

These are a few types of house extension:

• Wrap around – this type of house extension adds both width and depth to a house. If you own a detached or semi-detached house, you might extend living space at the side and also build into the garden. One of the best ways to open up a dark and narrow galley kitchen is with a wrap-around extension. It also gives home owners the opportunity to rearrange a layout that doesn’t quite work for you.

• Double storey – An extension that involves building out and then adding an upstairs area above it, so an open-plan kitchen with a bedroom and bathroom above could raise the property value by as much as 12%. Double-storey extensions are a cost-effective option because they allow you to spread the more expensive parts of build costs like the roof and foundations over a larger area. This means the average cost per square meter (m²) is lower compared to other types of extensions. With a double-storey extension, you can expand your living space while keeping your construction costs in check giving you value for money when extending your house.

• Loft conversion – This is one of the most affordable ways to increase your living space. You don’t have to increase the footprint of your home so you are not losing outside space and you are less likely to need planning permission. According to the Federation of Master Builders, you can expect to add approximately 15% of the property’s current value, although it varies depending on size and work carried out. It could be more if you add an extra bathroom.

• Single storey rear extension – A single storey rear extension uses the space behind your house, so you’ll need a garden to extend into. To do the extension you remove a portion of the rear walls, add new foundations and outer walls for a bigger space. They are commonly used extend kitchens and general living space creating a large open plan living area. They add 5-8% to the value of your hold

• Basement – Converting an existing cellar into a room or excavating and underpinning to build a new basement offers significant additional to your property especially in an area where extra space is difficult to come by and costs a premium. You could see an increase in your property’s value by as much as 20%. 

• Conservatory– If you have a limited budget for your extension then a conservatory is a good option and can add between 5-7% to the value of your home. A conservatory can bring extra light into the home and small conservatories often don’t need planning permission and may be excluded from building regulations.

• Garage Conversion – converting a garage into a bedroom with ensuite bathroom could see you add 20% to the value to your home. If you convert it to a gym or playroom it can add around 10%.  You could also consider building an extra storey over the top of an existing single-storey structure, such as a garage (providing the existing foundations and structure are adequate enough).

• Off Street Parking – In prime city locations converting a front garden into a parking space can add significant value to your home. Even if you don’t drive you can rent out the space.

Does my extension need planning permission?

You don’t need planning permission for an extension if you build within your permitted development rights. However, you should always seek approval from your local planning authority before starting any building work and check with them that there are not any directives, restrictive covenants, designated land, and that the building isn’t listed as these could all alter the permitted development permission. Obviously if your extension is not within your permitted development rights then you will need to seek planning permission for your extension from your local council.

Calculator to help

The office for national statistics ONS produced a calculator to help you find out what extra floor space could be worth in your area. It uses an average value for a house across the local authority areas.  It was produced in 2017, be aware that since then the construction and build costs have increased substantially so always consult builders to get accurate costs and then check against the increase in value an extra bedroom gets you in your area for example.

Don’t want to extend, need to sell?

If you find yourself in a situation where you can’t extend your home, planning permission hasn’t been granted, extending just costs too much and or you just need to sell your house now, there is an alternative solution available. Consider contacting Gaffsy, a reputable cash house buyer.

Gaffsy specialises in providing a hassle-free and efficient selling process for homeowners who want to sell their house and sell flat fast without the complexities of the traditional market. There are no introductory fees, no estate agent charges and no solicitor fees, Gaffsy covers all your selling costs so the cash offer we provide is the amount you receive for your property upon completion of sale.

As a cash house buyer, Gaffsy can offer you a straightforward quick house sale, allowing you to avoid the time-consuming processes often associated with selling a home through traditional channels. They understand the urgency of your situation and are prepared to make a fair no obligation cash offer for your property, providing you with a convenient and efficient way to sell. Gaffsy can be contacted via email or phone, rest assured one of the team will respond to your enquiry immediately.  

By working with Gaffsy, you can eliminate the need for costly repairs, as we buy any house in any condition. Our expertise in the industry and commitment to transparency ensure that you receive a fair and competitive offer for your home.

When circumstances necessitate a quick sale and you don’t want to go through the lengthy process of selling your property through an estate agent, Gaffsy can offer a viable solution. Contact us today for a free cash offer to explore how their cash house buying services can provide you with a convenient and efficient way to sell your home.