Home Improvements Vs House Values

tim9966

I own a small house, which I bought it in 2006. I've since added double glazing at a cost of nearly £4,000 and now I want to add gas central heating. I'm 50m away from the gas main, so this will cost £3,000 if I can get 3rd party consent to cross private land, or £4,300 if I can't, plus another £3,000 for the central heating.

Now before I decide if this is worth it or not what will it do to my house value vs a house across the road of the same size but without central heating. I think I'll be selling the house within the next 5 years.

Will it bump my house value up by say £5,000 or £10,000 or not?

KateLiana27

What are the prices of similar houses in your area? There will be a ceiling beyond which home improvements will not increase price. For example, a person with £200K to spend will almost certainly not buy a house in an area where all other houses are £100K, even if the house has £100K of luxury fittings added throughout.

Personally, I don't think it would increase the value by that much. Maybe by 3-4K at a guess, but I doubt £10K. Install it if you are planning to stay in the house and it would really increase your comfort. If you're planning to move, don't bother.

kingstreet

It might make it easier to sell when you want to, but I don't see it adding much value.

G_M

Find a cheaper way to install heating.

poppysarah

Look at alternatives - ground source heat pump, wood burning stoves, solar hot water. Spend the money in that and avoid costly bills for gas

brit1234

I wouldn't bother with gas at all, it will go up at a higher rate than electricity as we import it from further away and we have increased competition to buy it.

In a falling housing market house improvement don't usually add any more value than they cost.