The property improvements that add value, and the ones that don’t.
August 22, 2018
Research by GoCompare Home Insurance has shed some light on the improvements that add value to a property, and those that could leave you out of pocket..
Some of the most profitable projects for homeowners seeking to increase the value of their property include installing a new boiler or central heating system, improving energy or home security improvements, or creating off street parking. Redecorating, laying new flooring, and updating a bathroom may *slightly* increase the value of a property, however the costs of doing so generally outweigh any potential profit.
The research found that 26% of home improvements are undertaken specifically to add value to a property with popular renovations including: interior redecoration (53%), fitting a new kitchen (42%), replacing flooring (38%), installing a new bathroom (36%), a garden makeover (36%), installing new double glazing (29%), installing new central heating or boiler (28%). Other works undertaken were: improving insulation (16%), knocking through rooms to create an open-plan space (16%), fitting solar panels (9%) and adding a conservatory (8%).
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