As mortgage criteria becomes increasingly difficult to meet, more and more UK residents are opting to carry out home improvements to their existing property rather than upping sticks and moving house. There are many ways to expand, improve and add value to your home; some extensive and costly, others simple and on a tight budget. Rebekah Commane looks at some of the options
There are numerous ways in which you can find out the best avenue to take to improve your home, including at specially built facilities such as the National Self Build and Renovation Centre in Swindon, while exhibitions aimed at explaining all you need to know are being hosted around the country throughout the year.
Michael Holmes, TV presenter, experienced self-builder and renovator, and spokesperson for The Southern Homebuilding and Renovating Show, running on June 29 and 30 at Sandown Park, Surrey, explained to What Mortgage the basics behind building home extensions.
How and where to extend
The first step to take in deciding on how and where to extend, is to look at the existing lay-out of the home and determine the flat or dead space that has potential to take on a new function.
“Next is whether you want to expand into the loft space or cellar, which is cheaper than building an extension and usually won’t require planning permission,” Holmes advises. He says that the average cost for a loft or cellar conversion is £1,000 to £1,500 per square metre plus VAT.
“You can also move upwards into the roof and add another storey to the house or garage, which you may need planning permission to do, but all extensions are subject to regulations, as outlined at www.planningportal.gov.uk.”
Another concept suggested by Holmes is to design a stand-alone unit in the back garden, which may be limited to a single storey, no higher than the roof of the existing property and encompassing no more than half of the original garden area. Alternatively single storey extensions can be added to either side of the property, up to four metres in height with a pitched roof and up to half the width of the house. This sort of extension would cost roughly £1,250 to £1,300 per square metre.
More contemporary designs, such as those seen on the television show Grand Designs, would carry a heavier cost of £1,450 to £1,850 per square metre.
To ascertain how much value an extension could add to your property, Holmes recommends looking at similar projects in the area and assessing how much those properties are now worth. Subtract the cost of adding the extension to the potential value after it’s completed to determine how much the project could increase the value. Also consider the non-financial benefits that could be added to your quality of life with the addition of space.
The planning process
Planning permission applications should be presented to your local planning authority along with a site plan of the existing building and separate drawings of the planned extension. The planning process will take about eight weeks, with building regulations approval taking an additional two working days.
“Start off by finding an architect who can design your extension, then talk to planners and employ a surveyor,” advises Holmes. “Ensure that, when selecting a builder, you get references from family and friends and use a contract. Never pay in advance and you won’t go far wrong.”
When it comes to trends in home improvements Michael says that, while traditional conservatories and porches have declined in popularity, glass walls are becoming an integral part of extensions, as are open-plan kitchen/breakfast rooms and island or peninsula kitchens.
“Extending into the loft to create a master bedroom including an en-suite and dressing room is also becoming very popular in home improvement and expansion.”
Interestingly, separate dining rooms have become a thing of the past, while under floor heating is an increasing trend.
Financing
In terms of financing the project, Holmes suggests speaking to your existing lender first and foremost as you may be able to secure a mortgage top-up.
“This can be limited by income though, so alternatively you may be able to get a secured loan, which could be more expensive but with lower arrangement fees.”
Echoing the sentiments of self-build stalwart Kevin McCloud, who was interviewed in What Mortgage recently, Holmes is not sold by the government’s Green Deal scheme. “If you have no other way to go, the Green Deal could be an option for home improvement funding but if you do it privately it should be cheaper considering the repayment rates are quite high.
“When it comes to energy efficiency in home improvements a fabric first approach should be taken. Before thinking about spending on renewables it should be ascertained that the home is well-insulated and draught-free.”
Holmes has written a book entitled ‘Renovating for Profit’ in which he highlights everything you need to know in home renovations.
He will be available with advice at The Southern Homebuilding and Renovating Show in Surrey in June where visitors will be able to find the best products at the best prices, with over 200 specialist local and national companies.
One-on-one consultations with respected self-build renovation experts will also be available at the show.
In addition, The National Home Improvement Show will take place at the Olympia in London from September 27 to 29.
The National Self-Build and Renovation Centre in Swindon is open from Tuesdays to Sundays throughout the year. It offers details on all aspects of home improvements and start-ups with interactive scanners that enable you to have information and quotes sent to you or to have an expert call you. wm
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