Adding meaningful value to your home
Posted: 30 May 2006 09:48:52 GMT
A new report has warned homeowners that home improvement projects should not be carried out on a whim, with only certain tasks adding significant value to a property.
Respondents to a survey by Halifax agreed that a modern, fitted kitchen will add the most value to a property, although Halifax's expert valuers suggested that this came second to a loft conversion.
The respondents also picked out double glazing as an important addition in terms of adding value to a house, while conservatories, extensions and central heating were also given prominence.
Building an extension was also ranked highly by the expert valuers, but they also picked out appropriate painting and decorating as well as the presence of an attractive new bathroom.
Those preparing to sell a house should also take note of the fact that the sitting room is generally perceived to be the most important room in the house. Furthermore, 43 per cent of people admit that a well presented garden is crucial in forming a good first impression of a property when looking to buy.
Meanwhile, Jon Sykes, head of mainstream mortgage products at Halifax, has warned house sellers that changes made on the basis of personal preference can often strip value from a property.