An unexpected result of the recovering economy is that instead of buying a new house, many homeowners are deciding to stay put and extend their existing property.
And that, says professional carpenter Perry Barton, makes sound economic sense, because the addition of an extra bedroom or bathroom can add 10% or more to the value of a house.
Quoting the latest statistics from Nationwide, Perry told members of the Wealden Business Group that extending rather than moving also saves one-off removal costs of at least £4,000, plus the monthly outlay to service an increased mortgage.
Multiple bathrooms are becoming more popular – many new properties are being built with three or more – so installing an extra bathroom to your existing property can add around 10% to its value.
Perry said that the cost of a loft conversion could be as little as £20,000, an extension £15,900 and converting a garage £5,000.
For further information, please contact Perry Barton on 07720 061056 or 01233 733858 or email [email protected]