In our role as a time-served, locally trusted building contractor, Specialist Design & Build provides a wide range of bespoke home development services. From house extensions to loft conversions, and from bathroom installation to kitchen installation services, our team covers every aspect to improve the lives of clients without the hassles associated with moving. Despite the more well-known advantages that come with such work, most notably an increase in living space, functionality and aesthetic appeal, our finished results also benefit homeowners in other ways.
Below, we have explored some of the additional advantages that come with the services we provide as a building contractor in the Solihull area, and why they will always be a wise property investment.
Quite simply, any development that adds square-footage to a property will increase its value. Putting an exact figure on this increase, however, remains somewhat tricky as several factors influence just how much property values rise by. These include the type of house extensions, the style of the house itself and the location of the property.
According to research by Nationwide, it’s clear that house extensions that create an additional double bedroom with en-suite facilities have the most positive impact. An average three-bedroom home with these additions saw an increase in value of approximately 23%.
What’s more, the average return on investments for all types of house extensions undertaken by a reputable building contractor was 71%, with an average profit generated from works being £14,000.
Before looking at the financial benefits to this investment, it should also be noted that loft conversions add square-footage to a property but, unlike house extensions, they don’t eat into any garden space when doing so. For people in Solihull with small gardens to start with, this represents a significant advantage.
Once again, Nationwide’s research discovered that loft conversions had the potential to add as much as 20% to the value of a home. Again, as with house extensions, this figure varies depending on location, how home owners use their loft conversions and, most importantly of all, how much additional space they create.
In our role as a building contractor, we consistently undertake new kitchen installation services in Solihull and throughout the surrounding areas. Put simply, kitchens sell homes. As the heart of domestic properties, a well-designed kitchen complete with technology for optimal functionality and undoubted aesthetics (although this can be subjective!) will always appeal to prospective buyers.
A survey conducted by Spicerhaart revealed that a new kitchen installation has the potential to add between 5% and 15% to the value of a home. The final figure that our Solihull clients can expect depends on various factors including the cost of the work and the overall value of the home when work commences.
When it comes to maximising the financial value of kitchen installations, homeowners need to strike a balance between under developing and overdeveloping. With Specialist Design & Build as your building contractor, we use our considerable experience to ensure kitchen installations with the perfect balance.
Much like kitchen installations, the value of bathroom installations often comes down to a matter of taste. In this case, for homeowners in Solihull carrying out a new bathroom installation with an eye on a future sale, it remains sensible to use neutral colours and plain features with a focus on functionality rather than a bold design statement. This way, prospective buyers see more of a clean slate with great development potential.
Generally speaking, however, a new bathroom installation has the potential to return as much as 48% of the original investment in profit. For most homeowners, this brings about an increase in property value to the 5% to 15% mark again, much like kitchen installations, and with all the same conditions.