How to boost property value: Homeowners can get ‘great reward’ with renovations

Move iQ: How to maximise your property’s value

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With the housing market continuing to boom, prospective sellers are looking for ways to boost the value of their homes before they put their homes on the market. When it comes to adding value, homeowners can sometimes take a cosmetic route or undergo a major renovation. Cosmetic changes can add a small amount of value but homeowners can add more to the price of their home by adding square footage.

Property development expert and interior designer Rudolph Diesel has shared his advice on adding value to a property.

Rudolph Diesel is the Managing director of Rudolph Diesel London, a property marketing and design house based in west London.

The interior expert, who is the principle interior designer for several property development firms in London, shared which renovations in particular, add value to a home.

Mr Diesel exclusively told that loft conversions yield a “great reward” for people.

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He said: “If you get a loft conversion, or if you have a loft space, it seems to yield a financially great reward for people.

“Loft conversions are still a hot favourite just because it’s the done thing.”

However, Mr Diesel said excavation work on a property, going into the lower ground floor, can add “quite a great deal to your property”.

Rudolph said he had worked on a property where the homeowner was building their own family home.

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The individual had a bungalow and decided to add a lower ground floor to the property rather than demolishing it and starting again.

He explained: “By the time the project had finished and they had lived there for a few years, they sold it and got significantly more than what they anticipated.

“That’s not only down to interior design but it’s that lower ground floor.

“I think people are very apprehensive about lower ground floors because it costs a lot of money and people have this vision of it being a dank and dark hole in the lower ground floor.

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“But it’s just not. Everything has moved on from those days where you had a cellar.

“You’ve got an entire ground floor plus garden space foot print that you’re adding below your home.

“It’s a force to be reckoned with, in that sense of adding value to your property.”

Rudolph said kitchens and bathrooms can also add value to a home but this depends on the style of the home and the type of property.

Digging a new basement can cost anywhere between £2,200 to £3,000 per square metre.

Constructing a basement or lower ground floor is more expensive than a typical extension.

However, those without space above ground may be able to consider excavation work instead.

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