Renovation tips for people selling property

Posted: 11 May 2009 11:15:55 GMT

Anyone selling their property may wish to take note of the latest home improvement research from HSBC.

The bank said that loft conversions and room extensions add more value to property than any other type of renovation.

Developing a loft can apparently add £13,567 to the overall property price, while it was suggested that enlarging rooms can boost selling costs by £13,385.

However, people looking to increase the market value should be aware that not all work done to a home will help them achieve their goal.

Martijn van der Heijden, head of secured lending at the financial service provider, said: "Today's challenging housing market is making valuers reconsider previously-held assumptions of what home improvements actually add in terms of value."

Nationwide Building Society's most recent house price index indicated that the average cost of bricks and mortar in the UK in April was £151,861.


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