When you’re planning a home improvement project of any kind, one of your biggest considerations is likely to be your budget. You’ll need to carefully assess your finances to ensure affordability, of course, but there are other things to think about.
You’ll be keen to know the long term return on your investment, for example, and any hidden costs that might exist. If you’re thinking of building an extension or a conservatory, then you’ll also want to know the impact that this might have on your council tax. This is what you need to know,
The current legal situation
The law, as it currently stands, states that any alterations or extensions will not affect the council tax valuation band until the property is sold. This means that for as long as you stay in the property, you can not expect any increases due to your extension or conservatory project. This is great news for homeowners, as it’s one less cost for you to worry about. Of course, laws can and do change, but this situation is not expected to change in the foreseeable future.
Will it increase the value of your property?
The worry that an extension or conservatory could increase council tax is founded on the fact that council tax banding is based on the value of a property. We’ve established that your council tax banding won’t change whilst you still live in your home due to your improvements. It is however interesting to consider the impact on your property value.
According to @OnTheMarketCom, “A study by Towergate Insurance in 2017 suggests that a conservatory adds around 5 per cent to the value of a property”. That’s a great rule of thumb to keep in mind, though remember that every project is different.
Budgeting for your conservatory
For most people, budgeting is a key concern when it comes to a home improvement project. You’ll want to get great value for money, regardless of how much money you have to spend.
When planning your budget, be sure to think objectively, and try not to get too emotional. It’s very possible to get the conversion of your dreams, without spending more than you had initially intended. Any reputable company will provide you with an accurate estimate and there will be no hidden costs.
Embarking on building an extension or a conservatory is extremely exciting, but it can also be very daunting. From the impact on your council tax banding to having tradespeople in your home, there are so many different things to consider. When you choose Unicorn Windows though, we are here for you every step of the way.
If you have further questions about your conservatory project, get in touch today. We can answer your questions, provide you with an accurate quote based on your needs, and explain the process of getting started.
With over £10 million worth of installed products and thousands of satisfied customers, we are in the best position to provide your specific requirements.