For many homeowners, investing in home extensions, property renovations and other development projects is the ideal way to enjoy a better quality of life for many years to come. Others, however, commit to such projects because they know it will add a significant amount to the market value of a property that isn’t a ‘forever home'.
The builders at CJ Construction (Surrey) Ltd cover everything from reactive maintenance and full property refurbishments to loft conversions and summer houses. If you’re a homeowner in Cheam looking to increase the resale value of a property, we can help find the perfect solution for your needs and budget.
Below, we have looked at which of our services could make the ideal choice for you. Please note, this isn’t a comprehensive list. We have tried to cover as many needs, tastes and budgets as possible.
As such, we have focused on home extensions, property renovations and property refurbishments.
Numerous variables affect the overall value of your home. These include its location, original size, the extension design and what kind of new room(s) our builders create. The condition of your original house is also important. If you’ve neglected planned and reactive maintenance over the years, your new extension will have less impact.
However, statistics from industry research provide an insight into what you can expect. Nationwide published survey results that showed a new en suite double bedroom raised the market value of an average 3-bedroom house by up to 23%. Home extensions adding a standard double bedroom raised the value by as much as 12%, while an additional bathroom brought about an approximate 6% increase.
As with property renovations and property refurbishments, the key to maximising the value of your Cheam home is using experienced builders with a proven record for stunning extensions.
Much like home extensions, the amount of value added by renovating depends on certain initial factors. For example, if the property you buy is in a truly terrible condition (think issues like minimal reactive maintenance, a case of damp and subsidence), the potential returns may not appeal so much. The location will also provide a ceiling value on potential profits too.
However, research from the HomeOwners Alliance and the Federation of Master Builders shows how successful a relatively simple renovation can be. Key aspects include:
Creating an open plan kitchen and diner by removing an internal wall could add as much as £48,417 to an average London home
Building an outside playroom for kids or a garden room could add up to £35,611 to an average Surrey home
Laying a new driveway outside an average Surrey home could add as much as £13,354 to its market value
A conversion that turns a cupboard under the stairs into a downstairs toilet adds up to £26,708 to an average Surrey home
If your property renovations in Cheam also include our home extensions service, this could take the resale value to another level.
The home you plan to sell may already be in a great condition. It could already have an extension. You might have invested in a planned and reactive maintenance programme for years. In these cases, refurbishments by reputable builders provide fast, cost-effective results with an almost universal appeal. Refurbishing is also popular with Cheam-based landlords looking to increase rental yields.
Unlike property renovations, property refurbishments focus on the aesthetic touches rather than structural elements. According to Towergate Insurance, painting and decorating can increase a home’s value by an estimated 5%. Cleaned or upgraded flooring can add up to 3% with new garden decking increasing value by around 2%.
The final figure for your Cheam property’s resale value depends on the scale and scope of the refurbishments you want to carry out. When compared with home extensions and renovations, however, this is the most budget-friendly approach.