EVER wondered what will and won’t add value to your property?
Brian Williams from Complete estate agents in Rugby believes he has all the answers.
He said: “I get asked by many clients, what would adding another bedroom or extending do to the value of their home?
“There is no simple answer to this question but research has been done in this area by the Nationwide.
“In many countries homes are easily valued on price per square metre so if you added a room you just work out the price.
“But in the UK the valuation on a property is based mainly on opinion, usually a buyer’s, taking into consideration things such as size, outlook, location, home improvements, neighbouring properties and also the greatest impact on the price- the actual demand for that style or location of property.
“As a very general rule ten per cent increase in floor space adds five per cent to a typical value of a home.
“Adding an extension or loft conversion can add possibly 23 per cent of a property value, creating an extra bedroom can add up to 12 per cent on a terraced home and around ten per cent on a larger property.”
Anyone interested in knowing the market price of their property can call Complete estate agents on (01788) 550800.
Brian said: “We have well over 55 years combined local knowledge.”