Top 10 ways to increase value in your home

garethhr

Here are the top 10 home improvements and the average value they will add, after costs, as recommended by 100 estate agents across the UK:

1 Loft conversion -- 22,300 pounds

2 An extension -- 19,271 pounds

3 A conservatory -- 11,904 pounds

4 New kitchen -- 8,250 pounds

5 Central heating -- 6,147 pounds

6 New windows -- 5,239 pounds

7 New bathroom -- 5,155 pounds

8 Redecoration -- 4,576 pounds

9 Resurface driveway -- 3,928 pounds

10 Garden decking -- 3,617 pounds


The survey was conducted by Dynamic Markets for GE Money Home Lending in May 2007.

http://uk.reuters.com/article/propertyNews/idUKHIL42638920070604?feedType=RSS&pageNumber=2

PROFESSIONAL_LANDLORD

Top 10 ways to increase value in your home

AND NO 11 ?




































CLEAN THE JOINT.:rolleyes:

Liz1966

11. Clear out your clutter 'cos it will make your house look bigger!

All of the items in the top 10 will cost as much as they add value to the house therefore financially it's not a great benefit to do them.

poppyolivia

Liz1966 wrote: »

11. Clear out your clutter 'cos it will make your house look bigger!

All of the items in the top 10 will cost as much as they add value to the house therefore financially it's not a great benefit to do them.

The prices were AFTER costs so you are making abit. Maybe I didn't read it proper though!!

weekendwarrior

I wouldn't pay any attention to much of that.

The key to making money from property is to buy in a rising market, when the market is stagnant you can buy an house for 200k spend 30k on it and sell it for 200k.

In a rising market you would sell it for 250k!

Many of the TV programs that show people making large sums of money from property, do not always point out that most of these people would of made money by just sitting on the property and doing nothing because the market as a whole has risen.

At the moment houses are not selling like they used to and it's only a matter of time before a correction.

I wonder how many people have borrowed against the value of their homes :eek:

poppyolivia

weekendwarrior wrote: »

I wouldn't pay any attention to much of that.

The key to making money from property is to buy in a rising market, when the market is stagnant you can buy an house for 200k spend 30k on it and sell it for 200k.

In a rising market you would sell it for 250k!

Many of the TV programs that show people making large sums of money from property, do not always point out that most of these people would of made money by just sitting on the property and doing nothing because the market as a whole has risen.

At the moment houses are not selling like they used to and it's only a matter of time before a correction.

I wonder how many people have borrowed against the value of their homes :eek:

Very true. That Sarah Beany lass is always saying that!!:D

cazziebo

Interestingly - sponsored by a company that promotes home improvement lending at extortionate rates!

I'd take it with a pinch of salt and agree that a declutter and good clean make the biggest difference...

HugoSP

There are instances where certain improvements can actually return a profit on a house.

Sometimes an unfortunate event can be turned around to work for you....

We had to replace all the base units in our kitchen in a previous house under the insurance as a hot water pipe under the floor had leaked and swelled them all up.

We established the proposed cost to the insurers and managed to add a couple of hundred to the budget to remodel the kitchen diner altogether.

We managed the following:

Knock through the kitchen and dining room to create a kitchen diner.
Replace the whole kitchen with brand new MFI Schreiber 18mm units
Redo the floor in the kitchen. The old floor was ruined and covered under the contents policy. The insurance allowed us £250 for this and we just went and bought floor tiles to match the rest of the ground floor.

When we finished it was estimated that we added some £5 to £10k to the value of the house. The total cost of the project was around £3k, we did a lot of the building work ourselves. We actually demolised the wall between the dining room and the kitchen on Christmas Day!

Out of the £3k total cost we paid around £200 and the insurance company paid the rest as settlement of our claim.

:username:

Over 3 grand to deck the garden!! That must be one BIG garden and sum amazing wood!!
I kinda agree with the list but it may be a tad unrealistic for 80% of home owners! IMO of couse!

Tahiti

Almost £12k (after costs) added for a conservatory?? Now that's quite a claim!

As has been said above, presentation is very important. Redecorating can make a huge difference if the house is shabby or outdated, but a dirty, smelly home will always knock the value more.

A friend of my wife's would always choose the house that looked more homely, rather than the bigger (or arguably better) property that for instance smelled of dogs.

Will_it_make_me_rich

I wouldn't paying extra for a house with decking thats for sure. MOOOC