Research by estate agent comparison site, GetAgent.co.uk, has revealed which summer additions add the most value to your home based on their appeal to homebuyers in relation to their cost to implement.
GetAgent looked at the cost of eight summer inspired home improvements, the cost of adding them to your home and the potential added value once the cost of the job is accounted for.
How to add the most value to your home with a summer inspired home improvement?
A patio area or decking costs just £2,235 on average to implement but is thought to add 4.3% to your home’s value. Based on the current average UK house price of £281,161, that’s an additional £12,090, meaning once the costs are covered, a patio or decking area adds almost £10,000 in value.
At £5,000, adding a balcony or terrace will cost you more than double that of a patio or decking area, but will also add around 5% to the value of your home. That’s £14,058 on the current average property value, or just over £9,000 once the cost of the work is accounted for.
A conservatory is also a safe bet when it comes to summer inspired added value (£6,620), as is a summer house (£6,058) or an outdoor garden bar (£5,310).
Landscaping your garden can also bring about a house price boost of over £5,000 once costs are covered.
The most cost effective addition is a BBQ or fire pit. Costing just £1,500 to implement, it’s the most affordable summer edition of the lot and while it adds just 1.2% in value, this equates to £3,374 or £1,874 once the cost of the work is covered.
However, there is one addition that is unlikely to cause a splash. The cost of adding a swimming pool is the highest of all summer property additions, coming in at a huge £35,000 on average. It also adds the most value at 7%, meaning a £19,681 boost to your property’s value. But once the cost of the work is accounted for, this actually means a loss of over £15,000.
Co-founder and CEO of GetAgent.co.uk, Colby Short, commented:
“A summer home improvement project can be a great way to add value to your home and when it comes to the features that are likely to add the most value, adding more outdoor space is the recurring theme.
Whether it’s an area for al fresco activities such as a patio, a balcony or a garden bar, or an extended internal space such as a conservatory or summer house, any addition that allows us to enjoy the longer, warmer days is sure to appeal to potential buyers if you do come to sell.
Of course, the dream for many is a private swimming pool but not only do they require a lot of space, they are incredibly expensive to implement and upkeep.
However, one very realistic addition is a fire or bbq pit and these can be added for a relatively low price, or even undertaken as a DIY project.”