kb-network    News 26 Mar 2018

Recent study shows how bathrooms and kitchens can be the key to increasing property value

With a kitchen or bathroom renovation, it is possible to add almost £50,000 to the value of a home in just seven days, according to new research from the Federation of Master Builders and the HomeOwners Alliance, with property valuations supported by The Guild of Property Professionals.

Kitchens and bathroom updates are the most prominent projects in the study, adding the most value to homes in the shortest time. For a full list of projects, their costs, and the value they can add to a home, with estimates broken down by region, see the table below. But first, here are the key findings for the kitchen and bathroom industry:

  • Removing an internal wall to create an open-plan kitchen- diner can add £48,417 in seven days to an averagely priced home in London.
  • Investing new kitchen flooring, worktops, and cabinet doors can add £26,838 in eight days to an averagely priced home in Dorset.
  • Converting a cupboard under the stairs into a downstairs bathroom can add £26,708 in seven days to an averagely priced home in Surrey.
  • Converting part of the master bedroom into an ensuite bathroom can add £14,525 in 11 days to an averagely priced home in London.

Brian Berry, Chief Executive of the FMB, said to consumers, “By investing less than £3,500 on the creation of an open plan kitchen and diner, homeowners in London can add a whopping £50,000 to the value of their home in just one week. If you’re looking to move up the property ladder, it’s obviously in your best interests to increase the value of your home as much as possible. By investing in low cost, high return projects. Not only will you make your home a more pleasant place to live, you’ll also be increasing its value significantly.”

Federation of Master Builders

FMB | fmb.org.uk