Results from a survey carried out by 100 estate agents across the UK reveal the 10 most common value adding home improvements.
1) Loft Conversion - Ј22,000
2) New Extension - Ј19,000
3) New Kitchen - Ј10,000
4) New Conservatory - Ј9,000
5) New Windows - Ј6,000
6) Central Heating - Ј5,000
7) New Bathroom - Ј5,000
8) Re-decoration - Ј4,000
9) Resurfaced Driveway - Ј3,000
10) Garden Decking - Ј3,000
Home Improvements can be a very successful future investment. Figures above are based on typical value and are dependant on the capital invested in your home.
Not only can home improvements add a substantial increase to the value of your property, they also act as a very practical enhancement to your property, especially if you have a growing family or are not wishing to actually move away from where you currently live, as it maybe close to family and friends.
In the table above, the fitting / installation costs have been remove to show the real or true equity increase. i. e. a new Loft Conversion could cost Ј18,000 and could increase your property value by Ј40,000, so a true equity value increase, after costs, of Ј22,000
and similarly,
A new Extension could cost Ј30,000 and could increase your property value by Ј49,000, so a true equity value increase, after costs, of Ј19,000
A new Kitchen could cost Ј8,000 and could increase your property value by Ј18,000, so a true equity value increase, after costs, of Ј10,000
A new Conservatory could cost Ј8,000 and could increase your property value by Ј17,000, so a true equity value increase, after costs, of Ј9,000
New Windows could cost Ј8,000 and could increase your property value by Ј16,000, so a true equity value increase, after costs, of Ј8,000
New Central Heating could cost Ј7,000 and could increase your property value by Ј12,000, so a true equity value increase, after costs, of Ј5,000
A new Bathroom could cost Ј4,000 and could increase your property value by Ј9,000, so a true equity value increase, after costs, of Ј5,000
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