The renovation that can increase the value of your home by almost 25%
How renovations can help increase your home’s value
- Extensions or loft conversions can increase a home's value by up to 24 per cent, according to analysis by Nationwide Building Society.
- An extra bedroom can add 13 per cent to a property's value, while an additional bathroom may add 4 per cent, and a 10 per cent increase in floor area could boost value by 5 per cent.
- Kitchen and bathroom renovations were the most popular improvements among homeowners in the past five years, with an average spend of £52,000, rising to £97,000 for those aged 25 to 34.
- Around a third of homeowners who renovated made green improvements, with over half of these adding solar panels, and younger homeowners showing the most interest in such upgrades.
- While making a property look nicer was the primary reason for renovating, 35 per cent aimed to boost its value, though factors like location and market trends also influence the final outcome.