Improving? Make sure you do the maths
Category : Simple Design Services
The Times Friday 28th October 2016 had an interesting article ….
Not all renovations add value to your home ..
The article mentions that of course there are lifestyle gains to be made from loft conversions, side and rear extensions etc., but the trick is to spend the right amount on the project to also make it viable and increase the property value.
How much should you spend on renovations, compared to the property value?…
Well, the suggestion is that the maximum spend to retain value when sold would be 5% for a loft conversion or single storey rear extension and 9% for a side extension.
At present you may make use of permitted development, which means that you don’t have to go through the full planning process, which might end next year.
If you would like some professional advice, please contact Simple Design Services Ltd.