Which renovations will add the most value to your home?
PUBLISHED: 12:00 11 October 2017 | UPDATED: 12:06 11 October 2017
Turning your garage into an additional room can increase your property’s value by up to 20 per cent, new research has revealed.
According to Towergate Insurance, a garage conversion would add more than £26,012 to the value of the average UK property, rising to £80,857 in London.
In some areas, the cost of renovations may outweigh any increase in asking price they’re likely to create, however.
In order to assess the impact of home renovation on a property’s value, Towergate Insurance has created an interactive tool designed to show home owners if the upheaval is likely to be worth it.
It also shows which renovations will add the most value based on your budget and the current value of your home.
Simply enter the current value of your home, select your budget and the tool will calculate the average cost of works for anything from decorating to decking, the estimated increase in your home’s value and the likely profit after the work has been paid for.