Results from a survey carried out by 100 estate agents across the UK reveal the 10 most common value adding home improvements.
1) Loft Conversion - £22,000
2) New Extension - £19,000
3) New Kitchen - £10,000
4) New Conservatory - £9,000
5) New Windows - £6,000
6) Central Heating - £5,000
7) New Bathroom - £5,000
8) Re-decoration - £4,000
9) Resurfaced Driveway - £3,000
10) Garden Decking - £3,000
Home Improvements can be a very successful future investment. Figures above are based on typical value and are dependant on the capital invested in your home.
Not only can home improvements add a substantial increase to the value of your property, they also act as a very practical enhancement to your property, especially if you have a growing family or are not wishing to actually move away from where you currently live, as it maybe close to family and friends.
In the table above, the fitting / installation costs have been remove to show the real or true equity increase. i.e. a new Loft Conversion could cost £18,000 and could increase your property value by £40,000, so a true equity value increase, after costs, of £22,000
and similarly,
A new Extension could cost £30,000 and could increase your property value by £49,000, so a true equity value increase, after costs, of £19,000
A new Kitchen could cost £8,000 and could increase your property value by £18,000, so a true equity value increase, after costs, of £10,000
A new Conservatory could cost £8,000 and could increase your property value by £17,000, so a true equity value increase, after costs, of £9,000
New Windows could cost £8,000 and could increase your property value by £16,000, so a true equity value increase, after costs, of £8,000
New Central Heating could cost £7,000 and could increase your property value by £12,000, so a true equity value increase, after costs, of £5,000
A new Bathroom could cost £4,000 and could increase your property value by £9,000, so a true equity value increase, after costs, of £5,000
Article Source: http://www.orbitaloc.com/
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