Thursday, April 28, 2011
Category:
Home Improvements
According to HSBC’s Home Improvement Survey, 40 percent of ‘house proud Brits’ are planning to embark upon home improvements over the forthcoming Bank Holiday weekends.
It was found that householders across the country are intending to redecorate rooms, lay new carpet, and ‘give their garden a makeover’ in readiness for the summer months.
The research, which reportedly ‘questioned property valuation experts’, also revealed that many home improvements ‘add little or no value to a property’ however.
It has been revealed that householders who are redecorating their property will improve its value by an average sum of £3,229. This reportedly marks a 62 percent increase since the last HSBC Home Improvement Survey was conducted in 2009. Nevertheless, findings show that 35 percent of valuers are of the opinion that redecoration adds no value to a property whatsoever – though it does make it more attractive to potential buyers.
The best way to improve a property’s value is to invest in a loft conversion, according to valuation experts. It is believed that this can add an average sum of £20,876 to a property, which marks a 54 percent increase on the figure recorded in 2009. A room extension will reportedly increase a property’s value by approximately £16,000, and investing in a conservatory will add more than £8,200.
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Homeowners who would like to embark upon projects in and around their property, but do not have the funds required, could consider taking out a
secured loan. One of many finance options available, a secured loan for home improvements could pave the way to that ideal property, which may in turn increase its price tag. Borrowers who would like extra living space could extend their property or add a conservatory for example. Furthermore, an overgrown garden could be landscaped to create the perfect outdoor space in which to enjoy the summer months.
