Halifax reveals best value home improvements

10 September 2007
More homeowners than ever before are undertaking home improvements to add value to their property, according to research from Halifax.

A quarter of all homeowners undertaking home improvements in the past 12 months did so specifically to add value to their home - up from just seven per cent last year - with over half believing the work would add up to £5,000 to the value of their property.

First-time buyers were among the most likely to be involved in home improvements, in order to and add value to their property in order to sell on and move up the property ladder.

Kitchens and extensions were thought to add the most value, as well as adding extra space.

Last month the Guardian reported on a growing trend for basement conversions, as a way of building a bigger home, without having to build up and face planning restrictions or out, and losing garden space.

Maggie Smith of the London Basement Company told the paper demand for this type of home improvement has tripled over the past two years.

"A basement conversion can add the equivalent of a one-bedroom flat to a property for far less money and trouble than it takes to move," she added.

Patrick Sawdon from Halifax Valuers commented that Britons have become "a nation of movers and improvers".

However, people should ensure they guard against botched jobs. He said: "If you're considering embarking on major work, do consult the professionals and seek any necessary planning permission before getting started."

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