The factors affecting the value of your property

Location, location, location is more important than ever, but central heating, more floor space and an extra bedroom are also key to boosting the value of your home.

In my home study manual, I have emphasised that a good location, more space and more bedrooms add value to people’s homes – but it has also quantified just how much each affects the value of a home.

A 10% increase in floor space adds almost 5% to the price of a typical house and almost 7% to the price of a detached house

Adding a loft conversion with a bedroom and bathroom can add about 20% to the value of a three bedroom, one bathroom house which translates to about £26,000 on average.

Adding a new double bedroom to a two bedroom house can add about 11% to its value.

Semi-detached houses attract the greatest premium for adding a third bedroom, while terraced houses attract the greatest premium for a fourth.

The difference in price for a similar house in the most and least desirable areas was 72% in 1991, 80% in 2005 and is now 98%.

Newer properties tend to be much more energy efficient than older ones. This may be one of the reasons why new build properties attract a premium price.

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