When homeowners think about a project that could add £50,000 to the value of their property their first thought is usually something like a loft conversion or an extension. While these building projects are great and usually do the job, they can take anywhere from six weeks to six months to complete.
If you’re looking for a faster turnaround, then there are lots you can do to give your house value a significant boost, according to research from the Home Owners Alliance (HOA) and the Federation of Master Builders (FMB).
Your best bets for a quick buck
Knocking down an internal wall to make an open plan kitchen and diner
In London, this quick-fix can cost less than £3,500 but can add almost the full £50,000 to your asking price. The best bit is that it can take less than a week to complete so you get a great return on a relatively small investment with the minimum of disruption.
Create a garden room
Building a garden room can cost less than £7,000 but add anything up to £35,000 if you’re in the south-east. Most garden rooms, depending on their size and construction, take from two to eight days to put up and involve little disruption.
Turning a little cupboard into a second littlest room
If you have an under-stairs cupboard you can convert it into a downstairs toilet, complete with a diminutive corner sink and even a bookshelf for under £3,000 but this could add as much as £26,000 to your selling price.
Adding an en-suite to the master bedroom
If your main bedroom is big enough then turning part of it into an en-suite can bring your value up by £15,000 for a mere £5,000 spend. It’s ten nights of sleeping downstairs on an airbed, but how else can you earn a grand a night?
It’ll cost you just over £2,000 to add a driveway to your front garden but you’ll get an extra £13,500 when it comes to selling and putting decking and lights in your back garden will mean an extra £9,000 for a £4,000 spend.
Your mileage may vary, though
Some areas of the country like the north of England and inner London won’t see much of a return from the decking, but some parts of London will see more than £50,000 for the open-plan kitchen.
If you’re in Manchester with no plans to sell and you really fancy some new decking, then go for it because you’ll be enhancing your life. If you’re planning to move in the next few years, however, then you’d be better off spending the money on a downstairs bathroom or a driveway, even if you’re happy with what you already have.