DIYers 'adding value'

Posted: 11 Jun 2007 17:13:44 GMT


            Property News - DIYers 'adding value'

Homeowners are increasingly turning to home improvements in order to increase the value of their properties, new research suggests.

Homeowners are increasingly turning to home improvements in order to increase the value of their properties, new research suggests.

Those looking to increase the value of their home before selling it are choosing to spend often-significant amounts of money on home improvements, the Halifax Home Improvement Survey suggests.

According to the survey, more than half of homeowners (58 per cent) have made some home improvements in the last 12 months - up 12 per cent on last year's figures.

And adding value to the property appears to be a major reason for many major DIY projects, with 25 per cent of those questioned citing it as the main reason, compared with just seven per cent 12 months ago.

16 per cent said they were making home improvements because they were intending to sell the property in the short-term, and wanted to be able to command a bigger asking price.

"Home improvements are becoming more popular with people looking to add value to their home and improve saleability," commented Phil Jenks, Halifax's head of mortgages.

"Whilst DIYers continue to favour the more simple home improvements, such as redecorating, there are also signs that people are beginning to view their gardens as an extension of their home and are investing more time and money in improving the outdoors as well as the indoors."

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