Latest figures from Midlands estate and lettings agent Barrows and Forrester indicates that garden offices are an excellent investments in terms of adding value to your property.
They analysed figures for 15 common renovation projects. In terms of adding value, garage conversions came top (£13,750 cost but adding 10% to home value, based on the current UK average house price of £294,329), with garden offices in second spot - for this they reckoned a price tag £9,500 which then adds 7.5% to the average house price, making an actual value total of £12,575.
Interestingly, their research suggests that a property extension adds the most value, around 15%, but with the average cost estimated at £40,000 that means only £4,149 in actual added value.
“Home renovations aren’t always about adding market value to a property before selling, they’re often about adding to the enjoyment of living in our home," said Managing Director of Barrows and Forrester, James Forrester. "There is, therefore, no right or wrong project to get stuck into.
"But, if you are specifically looking to maximise your potential payday from an imminent sale, it’s really important to do plenty of research before committing. The worst thing you can do is embark on a major project on a whim without thorough research or planning and chances are, it will leave you out of pocket."
Image courtesy Garden Spaces
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