Hot on the heels of the Government's announcement of its intention to relax planning restrictions in the New Year Nationwide
have issued research which indicates that adding an extension or a loft conversion to a home could increase its value by almost a quarter.
Nationwide’s House Price Index Special Report looked at the value of improvements made to an average three-bedroom house and found that creating an extra bathroom could add 6% to the value, adding another double bedroom can push up the value by 12%, building an extension or loft-conversion to create a double bedroom and en-suite bathroom could add 23% to the value and that increasing floor space by 10% can add 5% to the average value.
Of course extending or improving a property is never a guarantee that it will achieve a higher selling price when the time comes to move on and its important that you take into account what's happening in your neighbourhood before carrying out any work so as not to over improve your property. If you'd like to find what price similarly improved properties have been selling for in Wolverhampton and South Staffordshire then call one of expert agents now on 01902 577775.