What value will your home increase by?
It varies from property to property, but an extra bedroom is said to instantly increase the value of your home by 15%. So if your home is worth £200,000 then the value of your house could be boosted by a huge £30,000.
How much will it cost to add an extra bedroom to your home?
The cost of adding an extra bedroom to your home can vary due to the size of the project and the type of conversion or extension you will be adding to your home. Creating an extra bedroom can cost anywhere between £15,000 and £45,000.
Different ways to add a bedroom will incur varying costs, some add more floor space to your home and others will convert the space that you already have.
Loft Conversion
A loft conversion is an extremely popular way of adding an extra bedroom to your home without having to extend the property. Converting your loft into an extra bedroom could potentially add 15% value to your property, especially if it has an en-suite bathroom.
The most straightforward and budget-friendly way to convert your loft is to turn it into a double bedroom and add a roof light. It could push your budget up to £40k if you decide to add dormer windows and an en-suite, but this in turn could increase the value of your property.
Garage Conversion
Converting a garage into a bedroom is one of the cheapest ways to add an extra bedroom to your property, and can cost around £6300 in total.
If you have an integral garage, the cost of the conversion could be relatively cheap and be undertaken by yourself if you are an experienced DIYer. If you don’t fancy the challenge, enlist the help of a builder to do the work, where it may take as little as two week to complete.
If the garage is detached, or there is structural work that needs to be done, it could bump up the cost of the project and take longer to complete.
Partition Wall
If you have large bedrooms, it may be possible to simply put up a stud wall to partition the room into two. Doing this will create privacy, whilst also being the quickest and cost effective way to create an extra bedroom.
Extension
If converting your existing space into an extra bedroom is not a viable option, why not look into expanding the floorspace of your home by adding an extension to the property.
If you also crave extra living space, you could have a double-storey extension priced up and create more downstairs space and an extra bedroom on the first floor.
However, as of 2022, the cost for an extension is roughly £1,350-£1,750/m² but it can vary for many reasons depending on the quality and type of fittings.
What Are Your Other Options?
If none of the options are suitable for you and you are looking for extra space, moving home may be a better option. With the changes in Stamp Duty recently announced, a larger home may be more affordable now. Why not chat with our friendly and experienced team on 028 9065 3333 or take a look at the properties currently available on our website.