There are lots of ways you can add value to your home. Whether you’re planning on selling your property or leaving it to family one day, boosting your property value is likely something you’re considering. There are a whole host of ways to increase the value of your home, from upgrading the garden, repainting the exterior, adding an extension, replacing the windows, and lots more. But can increasing the number of bedrooms actually add value to your property?
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There are lots of advantages to adding extra bedrooms to your home. For many people who need more space, extending their home is much less drastic than uprooting their families and moving into a larger property. This is particularly attractive when the housing market is so competitive and the cost of living has gone up. But perhaps the most important advantage of increasing the number of bedrooms in your home is that it can add big pennies to your property’s sale value.
How much of an increase?`
While there is no doubt that adding extra bedrooms to your property will help increase its value, there is no clear answer as to how much. There are a lot of factors to take into account, such as the type of conversion undertaken, how large the additional bedrooms are, how many of them are added, and where your property is situated.
Some sources say that just one additional bedroom can increase the price of your property by around 15-20%, while others suggest that an extra sleeping area can double the value of your home. The latter seems to be more likely if you live within a major city, such as London, where the property market is hugely competitive.
Types of bedrooms
There is no one-size-fits-all when it comes to creating a new bedroom within your home – there are several options depending on the available space you have, your budget, and your personal needs. Additional bedrooms can be added to a home at a relatively low cost if you’re merely redecorating an existing room into a sleeping space. Such a project is likely to cause minimal disruption and will often merely involve a change in furniture and décor.
You might consider converting a loft, attic, garage, or basement into a bedroom. This will likely be a larger project than transforming an existing room, but could still be comparatively cheaper and lower impact than building an entire bedroom extension.
Building an extension to create an additional bedroom is something to think about if you require more space in your property and also gives you the freedom to create a more bespoke design that caters to your individual needs. For instance, if your additional bedroom is intended for an elderly relative, you can work with an architect to make sure that it’s tailored for disabled use with specialist features such as wide doorways and ease of access. You might want to make your extension more than one storey, which will add even more value to your property.
Depending on which type of bedroom project you plan to undertake, it’s a good idea to check in with your home insurance provider to make sure your new bedroom is covered in your policy. Now might be a good time to shop around to find the best quote for homeowners insurance to personalize a policy to suit your needs.
Another detail you should account for is planning permission. While most low-scale home improvements, such as transforming an existing room into a bedroom are unlikely to require permission from your planning authority, it doesn’t do any harm just to double check.
Whether you decide to extend your property with a purpose-built bedroom, transform an existing space, or convert a loft or attic, you can add even more value to your property by adding an en-suite bathroom to accompany the new sleeping area.
Cost efficiency
While adding another bedroom to your property usually results in an increase in its sale value, you have to consider whether it is actually cost-effective in the first place. Many bedroom conversions are relatively cheap to carry out, especially if you’re planning on merely transforming an existing space, such as an extra utility or dining room. These types of renovations generally only involve a redecoration job and should therefore come with significantly lower costs than, for instance, an entirely new extension.
While converting an existing space certainly sounds like another low-impact option, it’s important to remember that the condition and location of the room will significantly affect the overall cost and disruption. There will still be added costs if you want to ensure that your new conversion is suitable to be used as a bedroom. Does the space have adequate insulation? Will it need new wiring and plug points fitted? Does it have suitable access? Will it benefit from built-in storage space? These are just some of the considerations you should take into account when planning your budget and determining whether such a project is cost-effective.
If you’re looking to add space to your property by creating additional bedrooms, then an extension is a good idea. If your outdoor area is on the smaller side, then a two-story extension might be the most cost-effective option as it will maximize your space and boost your property’s value, without losing out on precious garden space.
Regardless of how you create your additional bedrooms, it’s wise to be careful when choosing your building materials. Whilst you want to get the most of your money, equally, you don’t want to cut corners. Poorly-fitted installations, faulty wiring, and cheap materials that don’t last long are all likely to cost you more money in the long term and could ultimately be detrimental to the price of your home.
Conclusion
Adding bedrooms to your home is a very effective way to increase the value of your property. There are lots of ways to add new bedrooms to your home, from low-cost and low-impact redecorations of existing rooms, to loft or garage conversions, to large-scale extension works. Therefore, there is an option to add extra bedroom space to your home regardless of your individual circumstances or budget.
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