Britons improving to add value
September 10, 2007 by admin
Filed under News, News-Mortgages
Homeowners in the UK are taking the time and effort to improve their properties in the hope that it will boost value.
Research carried out by Halifax found that 25 per cent of people who carried out work on their home in the last year did so in order to increase its worth – up from seven per cent last year.
Some 16 per cent were inspired to improve their houses in order to make it easier to sell, a higher figure than the two per cent who did the same a year before.
“Our research shows that Britain has become a nation of movers and improvers,” said Patrick Swindon from Halifax. “It’s great to see that so many people are investing time and effort in improving their home.”
The study revealed that the most popular ways to improve property were redecorating for 66 per cent, overhauling the garden for 41 per cent and laying new flooring for 25 per cent.
Interior designer George Bond recommends that homeowners focus less on the wallpaper and more on the main rooms in the house.
“In my own experience, the major parts of the house to change to increase the property’s value are the bathroom and kitchen,” he said. “These are the key areas of the home; if these rooms are modernised, the property’s value will go up.”
