Best home improvements for house value
Property expert Henry Pryor and comparison site Go Compare have teamed up to reveal the best home improvement changes a homeowner can make in order to improve the value of their home, with many showing that the costs can outweigh the gains.
The findings show that replacing a boiler is the most profitable with an £8,000 increase in value resulting from an average cost of just £2,000. Other improvement measures that were worthwhile included adding home security and installing energy-saving measures. New central heating or double glazing can result in an improvement in home value of around £8,000, however, the latter can often cost more than the gains made.
Other home improvements that can offer a net gain include a cellar conversion with a net improvement of £1,500 and converting the home into open plan living that can net £2,250. The results appear to indicate that a new kitchen, a new bathroom or an extension could result in a loss.
Pryor states that improving the green credentials of the home will usually pay off and measures such as solar panels can even produce an income for the new owner. He also points out that getting planning permission before the house sale, but not actually doing the work can be a great way to get more out of the sale, without a huge investment. This leaves design choices down to the new owner.
Pryor goes on to suggest that a clean and tidy home will always sell better than a dirty one and that this is something that can be achieved for no additional cost at all.