Return On Investment
The ROI for building a house extension in London relies on many factors like: extension's cost, property type, location. In general, a skillfully designed and constructed house extension can augment the property value in London by up to 20%.
As per a report by the Royal Institution of Chartered Surveyors (RICS), median return on investment for a house extension in London is about 71%. In other words, for every £1 spent on the extension, the property value could increase by £0.71.
However, keep in mind that this is just an average.Actual rate of return for a house extension in London and surrounding areas will depend on the specifics of your project. The ROI can be affected by many factors, such as the extension's size and quality, location, and the current state of the property market.
Potential increase in property value, a house extension can offer other benefits, such as more living space and improved functionality. The decision to construct a house extension must be based on various factors, including budget, lifestyle needs, and long-term goals.