Home improvements are big business. According to a 2020 renovation nation report, UK residents have spent £55 billion on renovations to revamp their property. Although a major chunk of the population is struggling with their finances, having to spend the entire day cooped up at home, has inspired 65% of homeowners to do some renovating.
When asked what are their reasons for investing in their home during the lockdown, about 27% stated they did it to boost the value of the home. A conservatory is one of the go-to choices for many. Since it extends your currently available space and creates impressive surroundings, it’s no wonder why so many homeowners want it in their homes. The question is how much value will a conservatory add? We decided to take a closer look at conservatories. Including whether they make a good investment.
The Actual Monetary Value of a Conservatory
Splashing out some extra cash on housing improvements, not only creates a comfy living space but can also add value for potential buyers. Of course, the value of each improvement will vary. On average, a single improvement could add a 10% boost. That’s roughly £30,000 value on average. Whereas homeowners who invest in conservatories come on the top of the list, with a potential to deliver a 108% return on their investment. That means, adding a new conservatory can more than double the return of a new bathroom.
What Makes a Conservatory Worth the Costs?
A couple of years back, conservatories were best meant just to store plants. Now, people are loving the extra space and the cost-effective extension that gives them a nice place to rest. With it, they can design a stylish space. Like a dining room with a small garden that makes it more desirable. A conservatory is also easier on the wallet than a typical extension, meaning you can save on costs and still make the extra space look stunning.