Add Value to Your Home
I came across this today it’s aimed at the UK market, but really applies to any home in any country.
In a recent study by lending specialist GE Money Home Lending, agents gave their top home improvement recommendations in terms of how much value it would add to a home in their area after costs.
Those with lofty ambitions would do well to follow thorough with that attic conversion as this was agents’ favourite earner, adding an average £22,300 to a property’s value.
Following closely behind was adding an extension, which was projected to pile on in excess of £19,000 in value.
The homeowner’s top choice of a new kitchen only featured fourth on the estate agents’ list, with the potential earning power not even half that of the top two choices. Whatever the work surface you choose, a kitchen re-fit would only net you an extra £8,250.
And for those with a new bathroom in mind, take note: while avocado suites and linoleum flooring are clearly out, agents reckon even chic new bathrooms won’t add more than £5,000, just seventh place on their value-adders list.
Commenting on the findings, Giacomo Gigantiello, Unsecured Loans Sales Leader at GE Money home Lending, said:
“Homeowners planning improvements to their homes this summer to specifically increase the value of their property could be missing out on the most valuable additions.
It’s a really interesting read if you’re planing on selling your home in the near future or even it you plan to sell in a few years.
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May 15, 2008 | DIY News
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