When it comes to the cost of house extensions London customers soon discover that the type of extension, the house, the location of the property all affects the overall costing they can expect. Thanks to our home extensions London experience, we can provide some statistics that give a good indication of what you can expect when it comes to adding value with a house extension at your London property.
When you look at the banking industry research on the value of improvements to an average three-bedroom house found that an extension creating a double bedroom and en-suite can add up to 23% to the value of your property. An extra bathroom could add up to 6% and an additional double bedroom can add 12%. With this in mind, kitchen extensions, loft extensions, and all home extensions London homeowners do can be worth the initial outlay cost.
In a survey or 1000 home-improvers and found that an average extension cost was £19,750. The average return on investment for an extension was 71% and the average amount of profit generated by an extension was £14,000, making home extensions in London a good idea as you can recoup almost three quarters of the cost when you consider what it adds to your property value for resale.
When it comes to the value of house extensions London property owners should remember that these overall statistics are averages and can vary considerably from project to project, be it kitchen extensions, loft extensions, or other house extensions London property owners want. For an accurate evaluation of how much value your extension could add you should consult a professional and find out the current market value of your property, as well as its potential value once the changes have been made. We’ve written another article that you might find helpful on the cost of house extensions London wide.
