Fatima Bukhari
Writer & Researcher
From swimming pools to conservatories - and everything else in between, summer additions no doubt add much value to your home. But what we all want to know is - how much? Research has revealed which of these summer editions add the most value to your home, based on their appeal to homebuyers in relation to their cost to install.
GetAgent's analysis of the cost of eight summer inspired home improvements revealed interesting results. This analysis looks at the cost of adding these improvements to your home and the potential added value once the job is completed.
The average cost for a patio area or decking is £2,235, and will likely add 4.3% to your home's value. The average UK house price currently is £281,161, so with the increase, it would be an additional £12,090 added to your property value. After the initial outlay, you could be looking at a £10,000 profit.
Adding a balcony or terrace will cost slightly more than adding a patio or decking area, at a whopping £5000. This will add 5% to the value of your home - which is £14,058 on the present average property value. However, as the cost of a balcony or terrace is higher, your profit margins will be lower, with just £9000 being added to the house price.
Other summer additions you can make to your home that will add value are a conservatory (£6,620), a summer house (£6,058) and an outdoor garden bar (£5,310). Landscaping your garden can also increase house prices by over £50,000 once the cost of work is accounted for.
Whilst, these prices for summer additions may not be affordable for the average seller - a more cost effective alternative can be to add a built-in BBQ or fire pit. Adding 1.2% in value, equating to £3,347 or £1,874 once the costs are covered. This may be worth looking into if you are wanting to increase your home's value on a budget.
Here is one addition that is likely to cause a splash. The highest property addition - a swimming pool, coming in at an eye-watering cost of £35,000 on average. Which adds the highest value of 7%, equating to £19,681 to boost your property's value. But, once the costs are covered, there could be a large loss of around £15,000.
A summer home improvement project can be a great way to add value to your home and when it comes to the features that are likely to add the most value, adding more outdoor space is the recurring theme.
Whether it's an area for al fresco activities such as a patio, a balcony or a garden bar, or an extended internal space such as a conservatory or summer house, any addition that allows us to enjoy the longer, warmer days is sure to appeal to potential buyers if you do come to sell.
Of course, the dream for many is a private swimming pool but not only do they require a lot of space, but they are also incredibly expensive to implement and upkeep.
However, one very realistic addition is a fire or bbq pit and these can be added for a relatively low price, or even undertaken as a DIY project."
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