DIY value-add

Posted: 27 May 2008 11:17:35 GMT


            Property News - DIY value-add

An increasing number of homeowners are turning to DIY in a bid to add value to their homes, new research has shown.

An increasing number of homeowners are turning to DIY in a bid to add value to their homes, new research has shown.

The annual Halifax Home Improvement Survey published today (Tuesday, May 27th) showed that 44 per cent of homeowners thought improvements could add up to £5000 to the value of their property.

Russell Galley, head of mainstream mortgages at Halifax, said: "In the current market, homeowners can inject value into their homes by undertaking the right home improvements."

Mr Galley warned that homeowners should, however, be cautious of DIY disasters as botched home improvements could prove a costly mistake.

He advised homeowners to, where necessary, leave it to the professionals and ensure that proper planning permission had been sought.

According to the research, the most popular home improvement was redecorating with 71 per cent of those questioned admitting to painting and decorating.

Some homeowners were not looking for monetary gain, however. The results showed that 14 per cent made improvements for the love of DIY and 17 per cent did so to be "green".


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