Will an Extension Add Value to My House?
Considering a home extension? The below calculator uses the latest data from the Office of National Statistics, looking at property prices per square metre in England and Wales, and will show you how much an extension could add to your home. Perhaps you want to extend your kitchen or bathroom or add an extra bedroom? Let us know where you live and the size of extension you’re looking to add and we’ll help you work out how much an extension could add to the value of your home.
Once you’ve estimated how much value your extension will add to your house, read our guide to funding home improvements.
It’s important to remember that the value an extension could add to your home will vary depending on a number of factors from the quality of construction, to the type of room (e.g. whether it’s a kitchen extension or adding an extra bedroom) and the exact location of your property. This calculator provides an indication of how much you could add to your property by utilising the average value of houses across local authority areas.
*Data and calculations supplied by the ONS (correct as of Oct 2017)
How Can I Pay for a Home Extension?
Our team can help look at what your options are for raising money from your home. We go through some options below.
It may be that if you are doing smaller works you can get the finance from a further advance on your current mortgage deal
If you’re at the end of a fixed term mortgage you could remortgage to release some of the equity in your current house and take advantage of the low rates that are currently available
Second Charge Mortgage
Second charge mortgages, secured loans or home owner loans as they are sometimes known are called second mortgages because they have secondary priority behind your main (or first charge) mortgage. They are a secured loan, which means they use the borrower’s home as security and are popular if you are tied in to your current mortgage, and aim to repay the second charge via a remortgage when your main deal expires