When it comes to making home improvements, however, there are certain renovations which can add more value than others.
And in the current times – with more of us working from home – it will come as no surprise that having more space really matters.
In fact, according to analysis by Flooring Superstore, homeowners keen to boost their property’s value should look to invest in improvements which add to the overall footprint of the property. This includes building extensions, converting lofts and creating a designated ‘working from home’ space.
Not only that but garden offices which can also be used for gyms or games rooms have also become popular since the lockdowns.
And the move to more outdoor entertaining has meant the other ‘home’ improvement which is worth spending time and money is creating a well-maintained garden. According to the analysis this can add as much as 12.5% to the value.
New bathrooms and kitchens have always had a major influence on the value of a home, and this has not changed according to the research.
However there are some improvements which are no longer piquing buyers’ interest; wet rooms are a prime example.
Whilst the trend for these and shower-only bathrooms have led many people to remove their baths – prospective buyers can be put off by this.
Paul Gibbens, a property expert, said homeowners should instead focus on landscaping outdoor space, creating extensions where possible, and making the house cosy as more people spend time at home.
He added: “Home offices are becoming more and more popular, if the current situation continues and people are told to work from home more often it could increase the value of your home if designed correctly.
“Games rooms, indoor gyms, and even small cinema areas may also work well as many people tend to spend more time at home.”
The average potential percentage increase per home improvement (Source: Flooring Superstore)
| RANK | HOME IMPROVEMENT | POTENTIAL IMPACT ON PROPERTY VALUE | ESTIMATED PERCENTAGE INCREASE |
| 1 | Loft conversions / extension | Significantly adds value | +17.5% |
| 2 | Well-maintained garden | Significantly adds value | +12.5% |
| =3 | New bathroom | Significantly adds value | +10% |
| =3 | New kitchen | Significantly adds value | +10% |
| =3 | Driveways | Significantly adds value | +10% |
| 6 | New windows and doors | Adds value | +8.8% |
| =7 | Restoring original features | Adds value | +7.5% |
| =7 | Open plan living | Adds value | +7.5% |
| 9 | Designated WFH space | Adds value | +7.25% |
| 10 | Underfloor heating | Adds value | +5% |
| 11 | Real wood floors | Adds value | +4.5% |
| =12 | Artificial grass in garden | Adds value | +3.5% |
| =12 | Balcony | Adds value | +3.5% |
| =12 | Real grass in garden | Adds value | +3.5% |
| =15 | Approved planning permission | Adds value | +2.5% |
| =15 | Smart home wiring | Adds value | +2.5% |
| 17 | Bath in bathroom (not just shower) | Adds value | +2% |
| =18 | Working fireplace | Neither adds nor damages | 0% |
| =18 | Outstanding planning permission | Neither adds nor damages / Potentially damage value | 0% |
| =18 | Solar panels | Neither adds nor damages / Potentially damage value | 0% |
