Why consider spending money on your property?
- It should add to the capital value.
- It should increase your rental income.
- Unlike purchasing another property does not involve stamp duty etc.
So how do you know you are splashing out all that cash on the right projects? The National Association of Estate Agents (NAEA) asked professionals what they believed were the top modifications to add significant value.
- Around 50 per cent said an extra bedroom - followed by an upgraded kitchen, extra bathroom and conservatory.
- An extra bedroom - loft conversion adds on average 11% to the value of a home.
- Add an extension giving a more spacious kitchen or living space adds 11% to the value.
- Add an extra bathroom can add 5% to the value or £15,000 to the average house.
- Adding a conservatory can add 5% to the value.
Not only do these works add capital value they add income. An additional bedroom can bring in up to an extra £6,000 a year. Adding a conservatory to a student property can enable the use of a living room as a bedroom again adding up to £6,000 rent a year.
How we can help you?
We can advise what will work with your property. We have amassed experience on all sorts of Cambridge properties.
We can advise on affect on rent.
We can advise you on the best alterations which will appeal to a subsequent buyer ensuring you are well prepared when you eventually decide to sell the property.
We can instruct an architect, arrange party wall ant notices to be served, arrange quotes and oversee all the work.
Why not get in touch with Jeremy
Jeremy Liming MARLA
Jeremy has been involved in property since his early 20's. He has been working in the Cambridge property scene for over 15 years. He has a considerable experience and knows the rental scene really well, knowing what tenants are looking for. With a background in building he knows how to make the most of a property. He would love to chat through your ideas on investing in Cambridge.