House Extension in city

Are you interested in extending your home to create more living space? If yes, then you’d probably want to know how much value it can add to your property in order to compare the building costs to the potential value gain. Well, as long as you know what you’re doing, your house doesn’t necessarily have to be a money pit. So what are your options when talking about home extensions and what’s the associated value to be gained?

• Bathroom Extensions

Although you should have it in mind that bathroom extensions isn’t usually that cheap, but once done, it can increase the value of a standard UK house within the range of £12,000 to £15,000. Meanwhile the finishing cost of a bathroom can range from £2,500 to £7,000.

• Single or Double Storey Extensions

Single storey extensions are always huge when it comes to increasing the value of your home - giving about 4 to 7 percent increase. If it goes that far, then literally nothing beats a full spectrum, double storey extension which can give up to 11 percent increase in the value of a property - equalling about a whooping £33,000 for a standard home in the UK.

• Conservatory Extension

With conservatories becoming more and more popular in the UK due to the weather conditions, several buyers are now including it’s availability as part of the criteria for purchasing a house. Wonder why? This is simply because everyone wants to enjoy their garden all throughout the year. As a result of this high demand, adding this type of extension to your house can go a long way to increase it’s value. However, it’s very important to incorporate high quality materials during construction. With glass conservatories offering, on the average, up to £5,000 increase in value, the cheaper PVC alternative offers much less value and can also deter potential buyers.

It depends on the size and type of extension. Small porches or flat roof extensions are very reasonably priced. More substantial two storey extensions can be expensive. In general, the price is roughly proportional to the amount of space you add to your home.

Well the reality is, sometimes, neighbours just don’t get along. With several individuals living in close proximity, it’s little surprise they tend to get on one another’s nerves from time to time. However, there’s a difference between having a tiff and being able to transform your house the way you want without having to obtain your neighbour’s approval.

The short and simple answer to this question is, not necessarily. However, you must first educate yourself by thinking about your extension and how it affects the houses around you. We’d strongly recommend you talk proposals through with your neighbour so as to avoid possible conflicts later. There are a number of reasons why your neighbour can protest to your new home extension plans. Let’s take a look!

• In the event whereby your new extension is blocking their view or providing an unwanted shade on their property. Here, they have a legitimate reason to protest as no one would want their once sunny garden suddenly covered or plummet into shade.
• In the event where it leads to a loss of privacy. For instance, if your new extension possesses a window which overlooks the neighbour’s property in any way. This is likely to be taken as an invasion of privacy and that has a little to no chance of being a welcomed idea.
• If it’s a major project and going to take a lot of weeks before completion. The noise generated, especially when your neighbours are enjoying your summer holidays or weekends, can make their gardens not as relaxing as it used to be.

Do you want to beautify and increase the value of your home? If yes, a refurb and house extension is definitely a great option to consider. Depending on your home extension project, the value that’ll be added to your home’s resale value varies. However, the cost of completing a house extension project can be huge, so you just might want to consider your financing options. Fortunately, there are various options through which your house extension project can be funded with each having its own pros and cons. Your specific circumstances will determine the one that’s going to work best for you, so let’s take a look at some of the best options to help you fund your project.

• Home Remortgaging

The process whereby a mortgage is transferred from one provider to the other is known as remortgaging. This is usually done to generate funds for a project by entering a more lengthy repayment term commitment when switching. If you want to raise your funds in a quick manner, this process works best.

• Savings

This is a good reason to cultivate a good saving habits. If you’ve been able to save up some mega bucks then you’d probably won’t have to borrow money to finance your house extension.

• Unsecured Loans

If you do not buy into the idea of borrowing more against your property, you may just be able to apply for an unsecured loan especially if you have a good credit record. A secured loan makes use of collaterals like a car or house to serve as a cover for the lender, meanwhile an unsecured loan is based mainly on the credit managing history of the borrower.

• Credit Card

There are some great benefits that comes with financing your small or medium scale extension project with your credit card. Not only does it offer some real lifeline if problems arise during the project, but you can also avoid paying excessive interest on the investment by ensuring your deal has a 0% introductory rate.