Property: ‘Most valuable addition’ homeowners can add to their home this year

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Property: ‘Most valuable addition’ homeowners can add to their home this year

Many people have moved house in the last two years, in search for more indoor and outdoor space. This means homeowners may be looking to add their

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Many people have moved house in the last two years, in search for more indoor and outdoor space. This means homeowners may be looking to add their own touch to a home, whether that be a lick of paint or an extension. Speaking to Express.co.uk, one expert shared what Britons can add to their home in order to add value to it.

David Hannah, principal consultant at Cornerstone Tax, explained: “The concept of what adds value has shifted dramatically during the pandemic space.

“Gardens, garages and home offices have become the most demanded attributes in a home.”

Research by Foxtons suggested that a garden can add up to 20 percent to the value of a property.

This could be even higher in areas like London where space comes at a premium.

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While turning a bedroom into an office would add value to a home, it could be the most “valuable” addition for the homeowner.

However, turning a summerhouse into an office or building an outside building could increase the property price.

Marc von Grundherr, Director of Benham and Reeves, commented: “Demand for home office spaces has understandably boomed since we entered lockdown but with many of us reluctant to return to the office, this trend could become a more permanent fixture within the housing market.

“The good news is they can be fairly affordable to get off the ground and even adding one in the form of an extension is likely to make a good investment.

“Not only will it add value in the current work from home climate, but if you’re smart and make it a versatile space, it can easily double up as an additional bedroom or otherwise for those who aren’t interested in a home office.

“It’s these additional features that can help your property stand out from the crowd.”

Those looking to move this year may have to pay a higher price for their dream property.

It comes as the increased demand for homes and the lack of property on the market is driving house prices up.

The expert added: “There is still a supply side problem…the pace of new construction which, once the global supply chain sorts itself out, should resolve itself together with a fall in the cost of building materials as production and shipping return to normal.

“This will have major impacts on the UK housing market, predominantly it will help reduce the impact of material cost inflation on new belts leading to slightly better new home sale prices.”



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