Brits improve homes to increase value

Posted: 10 Sep 2007 12:04:42 GMT

Britain's home movers are keen on doing up their property in a bid to increase its value.

Britain's home movers are keen on doing up their property in a bid to increase its value.

According to new research by Halifax, 25 per cent of movers say that the only reason they have carried out work on their home is to increase its sale price.

The study reveals that young homeowners are the most likely to improve their home for this reason, with 68 per cent of 18 to 34 year olds doing so.

However, it seems that many home movers are confused about which improvements will do most to raise their property’s value.

According to Halifax, the most popular course of action is to redecorate, while making improvements to the garden and buying new furniture are also common.

Halifax though, says that movers would be far better off building an extension, a loft conversion or extending the kitchen.

"Our research shows that Britain has become a nation of movers and improvers," said Patrick Sawdon from Halifax Valuers.

"It's great to see that so many people are investing time and effort in improving their home. A word of caution though, poorly executed home improvements can actually detract from the value of your property.

"If you're considering embarking on major work, do consult the professionals and seek any necessary planning permission before getting started," he added.

The survey also found that most (35 per cent) work is carried out by a qualified tradesman.

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