Renovations can bring value, says NHIC

26 September 2007
Homeowners can add value to their properties through renovations and extensions, but ought to consider the price of houses in their area, according to one expert.

Andrew Leech, spokesperson for the National Home Improvement Council (NHIC), said that property owners ought to be "careful" when spending large sums of money on developing their home.

It is worth considering whether spending a sizeable amount on a property in an area where it is unlikely to be sold for the added value will be profitable, Mr Leech argued, suggesting that houses in a particular area may not be selling within that price range.

"Renovations or extensions can improve the value of the property - you have got to be careful not to off-shoot the value of the property in the area that you're living," he said.

In related news, government statistics show that between January and March 2007, district planning authorities in England received 169,000 planning permission applications.

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