Did you know that…
• Renovating your garage into an additional room can increase your property value by up to 20%
• For the average house price in the UK, this could mean a £26,012 value net increase.
Home renovations are often the first go-to method when needing a quick solution to sell your home as they can increase the value of your home dramatically, whether that be through adding a garage, an additional outdoor garden space, a conservatory, a new kitchen, bathroom or a fresh interior design through painting and decorating.
With house prices in the UK in a constant fluctuation, particularly regionally, and a new year fast approaching, now is the time to think about which home renovation, in particular, may be the best investment and most profitable solution. And, to help you calculate exactly that Towergate Insurance has produced a useful Home Renovation tool.
For example, the tool shows, if the average house price in London is £481,537, and your budget spends more than £15,000, then adding a garage could potentially add an estimated profit of £80,857.
To work out the effects of home renovation on your property value just follow the following steps:
• Visit the home renovation calculator here https://www.towergateinsurance.co.uk/home-and-property-insurance/most-profitable-home-renovations
• Enter your current home value
• Select your budget
• View your results