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There are many things households and developers can do to increase the value of their property, from small redecorating jobs to loft conversions and kitchen extensions. Whilst bigger projects will typically add the most value to a property, there are a range of different ways to make the most out your space, regardless of the budget.

Below are a range of different ways to maximise the value of a property:

• Creating extra parking spaces
• Adding insulation
• Loft conversion or extension
• Small redecorating jobs
• Sprucing up the garden

Those listed above can help you make the most out of your property, adding to its appeal and further it value.

 

Creating Extra Parking Spaces

Creating extra parking spaces could add considerable value to a property. In some areas (like Central London) parking is a sought after feature that many are willing to pay extra for or rent out to the public for events or work days.

If the property is located in the right area and has enough free space, it might be good to consider adding some off-street parking to push up its value.

 

Adding Insulation

Properly insulating a development can have multiple benefits. Not only can proper insulation cut down the cost of your monthly heating bills, it can also make a property more energy efficient, boosting its EPC rating and subsequently its value. See our guide on how to save money on developing a property.

You can insulate cavity walls, as well as the loft/roof to improve its energy efficiency. Additionally, double glazed windows can help to keep heat in whilst also shutting noise out; adding value in terms of energy efficiency whilst preventing damage to value from noise pollution.

 

Loft Conversion or Extension

Bigger projects, such as a loft conversion or extension, can add significant value to a property. Adding new spaces can make a property more appealing to buyers and also attract buyers who would not have initially looked at the property.

For example, by turning the loft into another bedroom you open up the property to those wanting more bedrooms/space. Adding extra bedrooms (and rooms in general) also increases the value of a property.

 

 

Extensions to kitchens, dining rooms and more can also greatly add to the value of a property, opening these rooms up and making bigger, more attractive spaces.

A loft conversion will typically increase the property’s value by up to 20% and a new kitchen can add 10% to 15% in additional value. This kind of work will typically require planning permission.

 

Small Redecorating Jobs

Whilst bigger projects usually add more value to a property, the smaller redecorating jobs can also have a big impact on its overall look and appeal. Having leaky taps, broken lightbulbs and peeling paint whilst seemingly small issues can make a property look run-down and unattractive.

Some of the smaller jobs you can then do to spruce up a property are as follows:

• Fixing dripping taps.
• Cleaning dirty walls and general cleaning services
• Removing built up limescale in the bathroom and kitchen.
• Replacing broken lightbulbs.
• Repainting walls.

Although some of these features may not seem like much, collectively they can all help to make a property look more attractive, and potentially add value.

 

Sprucing Up the Garden

Having a tidy and well-designed garden can do wonders to the value of your property, creating an additional space for people to entertain and relax in. Cutting back any overgrown grass and removing any weeds can help to tidy up the area, whilst adding new plants, outdoor furniture, or even small water features can turn it into a beautiful new space in the property.

 

Lofts extensions, garage conversions and installing roof lights are just some of the things that do not require planning permission. Instead, as with a number of other home renovations, it falls under the Permitted Development category. If something is in this category, it will mean you do not require planning permission from your local planning authority and can get it added pretty quickly, rather than going through the normal loops and hurdles with getting planning from your local council.

Magnet Capital are experts in property development finance and we go into further detail to discuss what work does not require planning permission.

• Garage conversions
• Loft conversions
• Roof lights
• Solar panels
• Building a swimming pool
• Adding a porch
• Conservatories
• Single-story extension

However, keep in mind that some Permitted Development restrictions can apply. For example, if the building you intend to renovate is:

• In a conservation area
• A listed building
• You have already carried out a lot of work on this property

If you think any of the aforementioned may be applicable, check with the local authority first.

 

Why do some things not require planning permission?

The nature of planning permission is for the council and area to protect any of your neighbours from any building work or extensions that you do. Things like personal space, natural light and area preservation are key things for the council to consider whenever you want to add or make changes to your house.

The reason that a lot of things below do not need planning are because they are already within the structure of your house or garden – and do not impact your neighbours or your area.

 

Garage conversions

If you are simply intending to convert a garden into a living space then no planning permission is required. You will need planning permission it though if it is a standalone garage, which will require consent under Building Regulations.

 

Loft conversions

Not all loft conversions require planning permission. It all depends on the cubic content. You will usually not need planning if it is under 40cm cubed. However, to add a large loft conversion and extra bedrooms, bathrooms or an office space, will require planning.

 

Roof lights

No planning permission is needed if you want to make changes to the roof through adding lights. Providing that these do not project any further than 15cm from the roof slope, it is acceptable.

 

Solar panels

Solar panels also fall under the permitted development category in the majority of cases. This is providing that the panels do not protrude any more than 200mm beyond the plane of the wall or roof and it is no higher than the tallest part of the roof.

 

Building a swimming pool

It is also possible for swimming pools to be considered a permitted development too. However, there are some restrictions. The area the pool covers should be no more than half of the total garden curtilage.

 

Adding a porch

You do not necessarily need planning permission to add a porch either. It will need to meet the following criteria to avoid permission from the local planning authority:

• The porch is no taller than 3m
• It is not 2m within a boundary that is adjacent to a highway
• Ground area does not exceed 3m

 

Conservatories

You will not need to apply for planning permission from the council if you are deciding to add a conservatory either up to 10 feet long.

 

Single-story extension

A single-story extension can be classified as a permitted development if:

• Similar materials to the original have been used
• It does not sit forward of the principal elevation
• If a rear extension on a detached house, it does not exceed a 4m depth
• If an extension on a semi-detached or terrace, it can not exceed 3m in depth

See also, what work requires planning permission.

Magnet Capital have today announced that they have become patrons of the NACFB, just 15 months after their official launch.

CEO Ashley Ilsen commented, “I’ve worked with the NACFB for many years whilst at a previous lender and their work is consistently excellent in representing our industry. We as an industry need to band together in order to continue to improve our standards and our practices and I believe the NACFB lead the way in helping to demonstrate how best to do this. It’s a wonderful nod of approval to have been accepted as a patron of the organisation so soon after our launch and a testament to the extensive experience and stellar reputation of the Magnet Capital team.”

 

 

As a specialist provider of development finance, we believe that our niche offering will be invaluable to development finance brokers. We are extremely service driven and have a very powerful funding line behind us that most importantly allows us to move very quickly when it comes to assisting with a development deal. We are one of few lenders that meets every single individual that we lend to, which may seem slightly old fashioned to some, however I believe that genuine relationships are built only by face to face meetings.”

Managing Director Sam Howard commented “we have always believed in the power of trade associations, such as the NACFB to bring the short-term finance community together and uphold first class standards across the industry across all the stakeholders. We are delighted to become a patron and be part of this movement.

NACFB Managing Director, Norman Chambers said: “We’re thrilled to welcome Magnet at the latest lender Patron of the Association. Magnet will be familiar to many of our 1077 brokerages as they have previously exhibited at our annual Commercial Finance Expo.

“I’m delighted they have taken the next step in becoming Patrons of the trade body and we very much look forward to working with Ashley and the team in 2020.”

Magnet Capital recently announced that they have added two new recruits to their growing team.

Subsidence is a term feared by many homeowners. Subsidence is caused when the ground beneath a property sinks, which causes the foundations of a house lower and become misaligned. It can have a considerable impact on both the value, the living conditions and structural integrity of a house.

From a developer’s perspective, it is important to spot the early signs of subsidence and knowing what to look out for. Otherwise, a house with subsidence can plummet significantly in value.

There are various different causes for subsidence. It’s important to know what these are in order to better check a property for this condition. Some of the main cause of subsidence include the following:

Types of Subsidence

Cause	Damage Done
Soil Content	Having soil with a high clay content can make it more prone to change volume, swelling when wet and shrinking when dry. This can cause the ground beneath the foundations of a house to become unstable, and lead to subsidence.
Leaks	When there is a water leak around the foundations of a property, this can have a significant impact on the soil, causing it to swell or wash away depending on the soil content. This can alter the level of the ground beneath a property’s foundations, further causing subsidence.
Trees and Shrubbery	If a house has trees and large shrubbery too close to its surroundings, this can drain a significant amount of moisture from the ground underneath the house, altering the level of the ground and causing the property’s foundations to sink.
Mining (Location)	Houses that are built close to an old mining site can also be at risk of subsidence. This is due to the material in the mining site decomposing, altering the ground and impacting the structural integrity of nearby houses.

Whilst understanding the causes of subsidence can help to prevent it, spotting the signs of subsidence are also vital in helping to protect a house from the condition as best as is possible.

 

How to Check If a Property Has Subsidence

There are numerous ways subsidence can present itself, the main ones being as follows:

 

• Cracks around doors and windows – cracks from subsidence can appear both outside and inside the house, they are typically found near a property’s doors and windows, and spread significantly faster than other types of cracks.

 

• Crinkling wallpaper – when wallpaper begins to crinkle this can also be a sign of subsidence, typically being around where the wall meets the ceiling.

 

• Doors and windows jamming – when you begin to have difficulty opening or closing any doors and windows to a property this could be due to subsidence; the sinking of the house’s foundations cause these features to become misaligned.

 

When spotting signs of subsidence, it’s vital that these are checked by a surveyor, who can inspect the property to confirm this.

What to Do If My Property Has Subsidence

If you think your property is suffering from subsidence, it’s important to contact your buildings insurer as soon as possible.

Typically, the quicker subsidence is noticed the easier it is to manage. Your insurer will organise for a surveyor to come round and inspect the property. The surveyor can then confirm whether it is subsidence or not.

You can get insurance for subsidence, however most standard insurers will not cover a house that is, or previously has, suffered from subsidence. Therefore, when looking to buy a house it’s important to learn about its history, and whether it has at any point been affected by subsidence.