The Top Ten Ways To Improve Your Home’s Value: Ranked
We all love making home improvements, but do any of us know which major changes can add the most value to your home? The team at Paladin Radiators have taken a look at just how much you could add in terms of value to your home if you made ten common improvements.
Based on the average UK house price of £280,000, the team have taken a look at the most common ways homeowners make improvements and just how much value it might add to a house.
Sales Manager at Paladin Radiators, Jon Walker said: “There’s lots of ways to add value to your home, but there’s often not a lot of transparency when it comes to which method adds the most and how. This ranking we’ve found really shows what people’s options are.
“Interestingly, the most successful methods are to create a basement conversion or to add off-street parking to your home. However, these are all based on average cost, so the level at which homeowners want to achieve are important to consider.
“Based on our research, adding a garden office might be the least profitable addition to a home, however it’s important to remember that the value added from not having to commute and the peace of mind you get from an addition like this.”
| Improvement | Cost (Median) | Percentage added (Median) | Value added | Profit |
|---|---|---|---|---|
| Cellar or Basement Conversion | £20,000 | 25% | £70,000 | £50,000 |
| Off-street Parking | £8,500 | 17% | £47,600 | £42,100 |
| Garage Conversion to Room | £6,000 | 15% | £42,000 | £36,000 |
| Loft Conversions | £22,000 | 15% | £42,000 | £20,000 |
| Redecorating or Renovating | £1,800 | 7.5% | £21,000 | £19,200 |
| A New Kitchen | £10,500 | 10% | £28,000 | £17,500 |
| Open Plan Living Space | £2,500 | 5% | £14,000 | £11,500 |
| A New Bathroom | £5,000 | 5% | £14,000 | £9,000 |
| New Windows or Bifold Doors | £20,000 | 10% | £28,000 | £8,000 |
| Replacing Radiators | £8,400 | 3.5% | £10,000 | £1,600 |
According to Barbour ABI’s Chief Economist, Tom Hall, the pandemic saw a huge shift in ways of working for many people and this is reflected in the extraordinary growth in domestic planning applications in 2021.
He said: “There were reports of unprecedented levels of house moves as many sought the space and tranquility of the country, but the data in our Home Improvement Report also reveals the extent to which many people chose to remain in, but enhance, their family homes. Loft conversions, extensions, garden buildings, home offices and even garden landscaping planning applications surged in 2021.”
Methodology:
We searched for the most common ways that homeowners made improvements as listed, then researched the average cost in the UK.
Based on an average house price in the UK of £280,000, we then worked out the percentage increase in home value and subtracted costs to give a definitive result.
Links to research: (Averages and additional research included, but sources for starting points)
“I want to say thanks and how fantastic the radiators look along with the cast quality and the excellent painting and polishing finish. I now can’t wait to get them installed! Many thanks again for all your help and assistance.”
“Thank you for all your help, we will definitely recommend Paladin to anyone we know who is looking for cast iron radiators and will get in touch when we’re needing radiators for our ground floor.”