The summer improvements that could add value to your house
The latest research from Yopa has revealed which summer-inspired home improvements could add the most value to your property once the cost of carrying out the work itself has been taken into account, with a summer house potentially boosting the value of the average UK home by almost £8,000.
Yopa analysed a range of popular home improvements suited to warmer summer weather, looking at the estimated value each feature could add to a property, before applying this to the current average UK house price of £271,295 and deducting the estimated cost of carrying out each improvement to reveal the potential real value added.
Most worthwhile summer home improvements
The research shows that a basic timber summer house ranks as the most potentially profitable summer home improvement.
A summer house is estimated to add around 4% to the value of a property, equating to £10,852 based on the current average UK house price. With an estimated installation cost of £3,000, this leaves homeowners with a potential real increase in property value of £7,852.
Bi-fold doors rank second. They are estimated to add 5% to the value of a home, equivalent to £13,565 on the average UK property. With an estimated cost of £6,000, this leaves a potential £7,565 increase in value once the cost of installation has been accounted for.
A landscaped garden completes the top three. Landscaping is estimated to add 4.5%, or £12,208, to the average UK property value. With an estimated cost of £5,400, homeowners could be left with a real increase in value of £6,808.
Patio or decking areas also rank highly, with an estimated £6,466 in added value once the cost of the work has been accounted for, while installing air conditioning could provide a potential £4,882 boost.
An outdoor garden bar could add £3,060 once the estimated cost of installation is deducted, followed by a conservatory at £2,634.
At the more modest end of the table, a basic BBQ island or fire pit area could still provide an estimated £1,756 in additional value after costs, while a mid-range hot tub could return £1,389.
Swimming pools could cost more than they add
However, one popular summer feature could actually leave homeowners out of pocket from a property value perspective.
A swimming pool in good condition is estimated to add 7% to a property’s value, the highest perceived increase of any feature analysed and equivalent to £18,991 on the average UK home.
However, with even a small swimming pool estimated to cost around £40,000 to install, homeowners could be left £21,009 worse off when comparing the cost of the work with the potential value added.
Of course, this doesn’t necessarily mean a swimming pool is a poor investment for every homeowner, particularly with hotter summer temperatures making one increasingly appealing from a lifestyle perspective.
Verona Frankish, CEO of Yopa, commented:
“Home improvements are always relative to your personal circumstances and the value you place on them won’t necessarily be purely financial.
If you’ve just purchased your forever home and plan to raise a family there, for example, a swimming pool might be worth every penny when you consider the future summers and memories that could be spent cooling down in the garden, regardless of whether you recover the full cost when you eventually come to sell.
However, for those improving with an eye on the future saleability and value of their home, it’s important to consider not only the perceived value a new feature might add, but also what it will cost to implement in the first place.
The most expensive improvement won’t necessarily provide the strongest return and, as our research shows, relatively straightforward additions such as a summer house, bi-fold doors or a well-landscaped garden can potentially provide a far better balance between improving your enjoyment of your home today and boosting its value when you eventually come to sell.”
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