Many of us carry out extensive renovation works at home in the hope that they will give our property value a boost when it's time to sell, but not every project will add as much value as you might think, especially when you consider the cost of carrying it out.
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New research from MoveStreets, the property portal designed for the mobile generation, has shown that garden offices are the home improvement that will add the most value to your home, while loft conversions and solar panels will actually cost you money when you come to sell.
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On average, it will cost almost £9,000 to construct a garden office, but it will add 8.4 percent to the value of your home. That equates to £22,739 in the current market, meaning an overall value boost of £13,752 when you have accounted for the cost of the work.
Meanwhile, a garage conversion can also give your property value a significant boost. It may set you back as much as £14,500 to carry out, but could add £27,071 to your property value, leaving you £12,571 up.
A garden office could add £22k to the value of your home
A kitchen renovation is one of the most popular home improvement projects many people consider ahead of a move, and doing so could add almost £15,000 to the value of your home. However, with a cost of around £8,500 to complete, it won't leave you with as much profit as you may expect, at around £6,300.
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Other projects may not be worth the time and expense if they are being done solely with the aim to boost your property value. They include landscaping your garden, which may only be worth an extra £40, and fitting solar panels or having a loft conversion, which could actually set you back around £5,000 once the cost of the work is accounted for.
Adding solar panels may actually cost you money when you come to sell
Property experts have previously revealed the simple changes you can make at home that could add thousands to your house value, and it could be as easy as refreshing your paintwork or decluttering. Meanwhile, Phil Spencer said that giving your house a name could be a surprising way to give your house value a boost, and it will cost you nothing.
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