Posted 20th June

Revealed: how much new kitchens and bathrooms can add to a home’s value

20th June 2019 - 15:34pm
kitchen, bathroom, money matters, sellhousefast, survey, renovation, extension, value, property, home, homeowner, kbb, kbbdaily

A new survey by housing agent has uncovered how much new kitchens and bathrooms – as well as renovations – can bolster a property’s value by as the trend of ‘don’t move, improve’ looks likely to stay during economic uncertainty.

According to Hiscox, the number of homeowners choosing to improve their current properties rather than move has grown by 12% over the past five years, equating to more than 4 million UK households.

While a kitchen renovation can add £12,442 in value to a property, adding an extension to the loft and kitchen can boost a house’s value by £23,754. A new bathroom can add £12,895 to the value, while a new bedroom can bolster the value by £25,338.

“Homeowners making the decision to stay put and add, improve and renovate their homes instead of moving, is becoming the new trend for those looking to adapt their property to meet their ever-changing needs and evolving lifestyles,” said managing director Robby Du Toit.

“It is logical that many view home renovations as a more economical solution and given the uncertainty of the market due to factors such as Brexit, it certainly seems more beneficial to add value to existing dwellings.”

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