Loft conversions add the most value to homes
Loft conversions add more value to homes than any other improvement, new figures show.
But most homeowners do not realise this, mistakenly thinking a new kitchen or bathroom is the best way to make their home worth more money.
"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," said Giacomo Gigantiello of GE Money home lending.
"At a time of year when many are planning to improve the value and desirability of their homes, it is important that consumers appreciate and establish DIY and renovation tasks which will add the most equity to their particular home."
When GE Money questioned estate agents, they revealed that the converting an attic or loft would add £22,300 to the value of the average home and £45,000 to the value of a home in London.
After loft conversions, extending a room is the thing that adds the most value to a property by estate agents, boosting house prices by an average of £19,271.
But homeowners would rather add a new kitchen and bathroom - despite this only increasing the value of the average property by £8,250 and £5,155 respectively.
"In many cases homeowners automatically opt for a new kitchen or bathroom," said Mr Gigantiello.
"Whilst these are valuable additions to any home, the findings from this research show that it is also important to consider improvements that will ultimately increase a property's living area."
Top ten improvements by value:
1) Loft conversion - £22,300
2) Add an extension - £19,271
3) Build a conservatory - £11,904
4) New kitchen - £8,250
5) Add central heating - £6,147
6) Windows - £5,239
7) New bathroom - £5,155
8) Redecorate - £4,576
9) Resurface the driveway - £3,928
10) Add decking to the garden - £3,617
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- news ,
- property ,
- renovation home improvement
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