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Loans for home improvements could pay dividends

04 May 2005
For homeowners attempting to sell their house in the current slow market, taking a loan to invest in decorating and improving their property could be the best way to ensure they stay ahead in the property game.

According to DIY store B&Q, decorating could see homeowners add up to £3,000 to their property's value - a net gain on their investment of up to 220 per cent.

Investing several thousands of pounds in a brand-new bathroom could also pay its way, adding as much as £15,000 to the value of a property.

"A good bathroom or kitchen will always increase the saleability of a property," James Ballard of Winkworth estate agents told The Independent.

"If you spend about £7,000 on a new bathroom, for example, you could add as much as £10,000 to £15,000 to the price of the property."

Adding a conservatory - as long as it doesn't impinge too much on garden space - could also be a good reason to take out a loan, putting at least the value of the extension back into the property.

Click here to find out more about homeowner loans.

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