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How a Conservatory Affects the Value of Your Home

30 September 2013

Much of the current property news focuses on first-time buyers and the problems they face trying to get onto the property ladder. In stark contrast, very little is heard about homeowners who wish to move further up that ladder, even though they also face many difficulties.

The slow property market and lack of supply has led to an upsurge of people staying put and looking to improve and extend their existing homes.

As a result, property owners have borrowed a page from the property developers’ handbook, and are seeking to improve, modify and extend their homes to further the value of their investment, often with the addition of a conservatory.

Buying a property is already difficult enough as it is, given the many factors that can lead to either a decrease or an increase in value, so it pays to be careful, as the type of property purchased directly influences the scope for improvement or extension.

When planning future improvements, think about whether the property concerned is suitable for the work you have in mind. For example, the construction of a conservatory not only requires space, but it also has to blend in with the rest of the property and not cause the garden area to become too truncated and cramped.

The most efficient and effective way to increase the value of a property can often be found by buying in an up-and-coming area. A little research should be able to uncover the clues that indicate it is so. Signs to look out for include such things as the sight of streets becoming popular with new buyers who improve the outward appearance of their homes. This can lead to an increase in the value of property not only in those streets, but also in that area, as people decide the location is now a favourable place to live.

It’s important to remember that improvements to a property aren’t a guarantee of an increase in value, even if a conservatory is added, because different buyers value different aspects differently. Buyers have to be offered what they want. As an example, a conservatory may be a dream for one person, but be seen as an unsightly blister by another.

Before undertaking any improvement work, consult the local estate agents and find out how much a property would be worth if, for example, a conservatory were to be added. It’s often the smaller, cheaper improvements that garner the best return, while larger, more expensive work, such as a loft or basement conversion, fails to attract the size of premium that justifies all the effort and expense involved.

The bottom line is that the return on any home improvement will depend on the type of property and its location. It should also be remembered that very few improvements are completed within the proposed budget, with the majority costing more than originally anticipated. Builders have been known to reveal an over-optimistic nature when it comes to giving quotes, so it’s best to allocate finances accordingly.

Although conservatories may have lost some of their appeal over the past few years, they still retain a certain cachet. However, installing one isn’t cheap, so it’s probably best to have it built for personal pleasure rather than for the increase in value it may or may not bring to your property.