The UK property market is one of the most popular investments in the world, with all nature of properties being available in one way or another. Buying a property of any sort, particularly in towns and cities across the UK can prove very lucrative and this is why despite changeable markets and a volatile investment environment, global investors are generally flocking to invest in UK property, in comparison to many other countries.
What many property owners and developers find though, is that investing cleverly into their property or portfolio of properties has the potential to increase the value by potentially vast amounts (source: HWDW). Popular improvements include loft conversions, upgraded plumbing and electrics and double glazing, all of which serve to benefit the occupants as well as the property’s value.
Loft Conversions
Increasingly, more property and homeowners than ever are undertaking loft-related improvements to their properties and for good reason. Loft conversions in the UK can add as much as 25%, sometimes more to the value of a property. by increasing the amount of liveable space and number of rooms in the property in question, there is more to the property which makes it that bit more desirable to any potential buyers.
How much a loft conversion actually increases the property’s value however, will be determined by various factors including:
- The type of conversion (terraced, dormer, mansard)
- The are and location of the property
- The planning permission laws in the neighbourhood
- How much space and how many rooms the conversion adds to the property
- The value of houses and properties in the area
Plumbing and Electrics
The plumbing and electrics in a properly are fundamental to the running, safety and everyday costs of the house or flat in question. A very desirable feature, newly upgraded plumbing and electrical systems mean that future occupants need not worry about having to replace these systems which may otherwise prove very expensive.
Also, by having upgraded electrics in particular, the property will be much more energy efficient which is both better for the environment and the occupants who will see their energy and heating bills come down, yet another desirable feature of any property.
When it comes to the plumbing, by upgrading and improving the necessary components including the boiler, radiators and central heating, sinks, taps and more, the property may well find itself being more water efficient. Improved water and plumbing systems also often mean the property is less at risk of things like boiler breakdowns and flooding, not related to the weather.