Adding extra space to your home is beneficial from both a living and
financial viewpoint. It is always helpful to have more storage space in your
home, as well as have enough living space if your family expands. From a
financial perspective, adding extra space to your home drives up the value and
can get you a better return on your investment when it comes to selling it on.
Although it may appear that no more expansion is possible in your home,
there are always ways to add extra space through conversion and excavation.
This is a long and possibly expensive process, but in the long term can add
value to your home and create a more enjoyable living space for you and your
family. Let’s look at some ways you can add extra space to your home.
Convert an Attic
Attic space is great for storing items you wouldn’t use every day, but
most of these objects will never likely be used again, which means the large
space being taken up could be put to much greater use. Consider getting rid of
the non-essential items in your attic and converting the space into something
much more useful, such as an extra bedroom. Another plus is that attics are
close to a living floor below them, and therefore can tap into the rest of the
houses’ utilities such as electrical and plumbing.
You’ll have to find new storage for the items you remove, but it’s
likely you’ll end up disposing of many of the objects that end up in an attic,
as these are very seldom used in the first place. The value you’ll be adding to
your home greatly overshadows the space you’ll be losing. Remember that attics
are not initially build for constant use and living, so one of the most
important tasks will be reinforcing its structural points, joints, and
flooring.
Under regulations that came into effect in 2008, one of the biggest
bonuses of a conservatory is that it is a permitted
development, meaning you no longer have to submit and attain an
application for planning permission. This makes a conservatory a highly
valuable for expanding space within your property; not only does it add a
bright and comfortable space within your home to relax in, but it is also
thought that a conservatory can add anywhere between 7 and 11 percent extra
value to your home.
There’s a few important aspects to factor in when deciding whether to
add a conservatory. Foremost, keep in mind how much of your garden space you
are willing to part with. You’ll want to keep a balance between the two spaces,
as home buyers will also base the value on the home on how garden space there
is. Many buyers may also see an actual liveable space more favourably than a
conservatory, so keep in mind how many bedrooms you already have when deciding
whether to add a conservatory.
Excavate under
your home
Once you’ve moved upwards and outwards, the only place left to go is
downwards and create a basement underneath your home. This is most likely going
to be the most expensive and difficult out of all these choices, but with its
relative rarity it is likely to add considerable value to your home. Basements
make excellent investments for a wide range of home buyers, especially buy to
let investors who may wish to use the space in a more profitable sense, as well
as private home owners who could crucially use the extra space.
If you thinking of creating a basement space, you’ll want to consider
looking into hiring specialist equipment. For a domestic project, a mini
plant hire company should be able to let you the appropriate
machinery, as well as professionals capable of operating the plant equipment
inclusive. Alongside this, you’ll want to ensure the work acquires the
necessary planning permission before it goes ahead. If done correctly, a
basement can add much greater value to your home.
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