In a period when spending more time at home, including remote working, is a necessity, many people are looking to add extra space to their property to enjoy with family or to create a more productive working from home environment.
While adding a house extension or building a garden office will both deliver the extra space you crave, it is worth noting that one of these options could be much more worthwhile in the long run – in terms of heightening family living and, especially, in adding value to your home.
For professionals, especially those with young children, a garden office creates a separate space, away from the main house, to give you the environment you need to get into ‘work mode’. But consider your investment wisely as this separation, however attractive, is unlikely to deliver such a high ROI as an extension of the same size.
Typically, budgets of £13,000 to £20,000 will buy you a reasonably sized building with design features such as floor to ceiling glazing, cladding and a plastered interior.
However, it’s important to consider the hidden costs involved with garden building projects. For instance, the electrical connection, data cabling for telephones, broadband and television is a large extra expense.
If you are looking for a high spec garden office that is highly insulated, built to last and fit new house standards, you will need a higher budget. Bespoke garden buildings complete with a separate bathroom and stunning design features, such as bi-fold doors, cost an average of £30,500 for a 5.5 x 4.5m project.
When it comes to ROI, studies have shown that adding a garden building to your property can add up to 5% of value. So, if your property is worth £250,000, you could expect to see an increase in the value of £12,500.
House extensions, on the other hand, can vary even more dramatically in price. However, when comparing the average spend and size to that of a garden building, you are likely to gain a higher return on investment. Plus, when additional space is no longer required for a home office, the new space can be easily utilised for another purpose, perhaps a larger kitchen or extra bedroom.
Here is a guide for the average extension cost in the South East of England:
Basic Extension – £1200-£1400 per M2
Standard Extension – £1500-£1800 per M2
High Spec Extension – £2000-£2200 per M2
As per the guidelines of £1200- £2,500 per m2 in a survey by Checkatrade, you can expect to pay between the following for a house extension:
20m2 extension – £25,000 – £50,000
30m2 extension – £37,500 – £67,500
But, how much value can you add to your property?
Research conducted by Nationwide on the value of improvements to an average three bedroom house found that an extension creating a double bedroom and en-suite can add up to 23% to the value of your property. An extra bathroom could add up to 6% and an additional double bedroom can add 12%. Meaning an extension can deliver both the additional space and increase in home value you are searching for.
Another option to consider is a loft conversion. Not only do they make stunning additions to your home, but they also take less time to construct than a house extension and give you with more for your money than a separate garden building.
A report by Real Homes states that ‘loft conversions provide one of the best returns on investment you can get when it comes to extending.’ Typically, the project will add up to 20% of value to your home and provide you with that extra space or perhaps home office privacy you require.
If you are struggling to decipher the best fit for your home, requirements and lifestyle, our specialist team at John O’ Connell are on hand to help. We offer bespoke garden buildings and stunning extensions and loft conversions designed and built to fulfil your needs and add value to your home.