Adding an extension could increase the value of your home

With the current state of the market, home owners are losing confidence and as a consequence want to make the most of their current home.

According to a recent survey conducted amongst NAEA members, 92% agreed that adding an extension can potentially increase the value of a property.

However, when asked to choose between a list of possible ways to increase the value of a home, 41% of agents believed that the best approach is to build an extension, followed by a kitchen which received a response of 17%. Members thought that the least effective method was by upgrading the exterior of a home (4%) and creating a conservatory or glass extension (4%).

Peter Bolton King, Chief Executive of The National Association of Estate Agents (NAEA), the residential sales arm of the National Federation of Property Professionals (NFOPP), comments: "In the current market it is understandable that home sellers are keen to try anything to increase the value of their home. For this reason, a well planned and built extension, that creates an additional open living space, could potentially increase the value of a property. However, you must bear in mind that the average price of properties in the local area will dictate the maximum price your property can achieve. It is worth researching the local area first and familiarising yourself with what types of properties sell best."