Four Ways Planning Permission Adds Value to Your Home

In this two-minute read, we look at a question we often get asked at Knightsbridge Estate Agentsย around the question of whether being granted planning permission adds value to a property?

The quick answer to this is nearly always a yes.

Here are four ways being granted planning permission can add value to your property.

ย Lofty ambitions โ€“ Adding an extra bedroom

A loft conversion that adds an extra bedroom, especially with an ensuite bathroom, can be reasonably expected to add up to 15% to your propertyโ€™s value.

In some cases, loft conversions might not need permission due to something called Permitted Development. But ALWAYS check with a local architect first. Donโ€™t rely on a quick Google search, ask an expert.

Possible value added: Between 10% and 15%

 

ย Create space by converting a garage

A garage has so much more potential than what it was initially built for. Converting it is a great way to add more living space to your home.

ย Possible value added: Between 7% and 15%

 

ย Side or rear extension

Extending to the side or rear of your existing home can often be done without planning permission. But again, itโ€™s always wise to check with an architect and your local authority before you start anything.

This kind of extension creates a host of possibilities to add more square feet to your home, automatically adding value.

Possible value added: Between 10% and 20%

 

ย The big one โ€“ Converting a house to flats

Feeling ambitious? This grander type of design is one for people looking to maximise a propertyโ€™s value.

Being granted planning permission to split a property into separate living accommodations is a brilliant way to maximise value.

This gives you the option of converting it yourself and renting the flats out or selling the property with the granted permissions to a property developer.

ย Possible value added: Between 15% (conservative) and 40% (ambitious)

If you know youโ€™re going to sell the property at some point in the short term (12โ€“18 months), itโ€™s possible that simply having the permission granted will add value to your home.

This is regardless of whether youโ€™ve had the work done or not.

ย 

Selling potential

Selling a property that has been granted permission for improvements often attracts a broader pool of potential buyers.

And by creating this extra interest, you fuel demand which usually leads to more offers and a higher sales price.

And remember, itโ€™s wise to contact a local architect to see how feasible your ideas are. We can recommend someone to you.

ย If you want an expert opinion on what kind of value gaining planning permission could add to your property, give us a call today.

 

 

 

 

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