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Survey Shows UK Home Owners Trying To Improve the Value of Their Home Are Getting It Wrong

As the home market continues to show an increase in value, home owners across the UK are working to improve the potential value of their home as they look to maximise their return of investment following successful sale, however it seems that what they believe to be the most effective is in fact not the biggest price increasing feature.

Of those survey, many believed that the addition of a new kitchen would help to increase the value of their property the most, however it seems that when the top ten suggestions were analysed in relation to the impact that they would have on the price of a property, the most likely changes that home owners would make were not actually the biggest price increasers.

When asked what they would consider to be the most effective alterations that they could make to their home in order to increase the asking price of their property, the survey revealed that the top ten changes were:

  1. New Kitchen
  2. New Bathroom
  3. Conservatory/Extension
  4. Loft Conversion
  5. De-clutter/Increase storage
  6. Install Double Glazing
  7. Ensuite Bathroom
  8. Improve the Forefront of the House
  9. Improve Eco Rating
  10. Build a Swimming Pool/Jacuzzi

Although the majority of home owners felt that they would improve their kitchen space as a priority, the comparison between the actually biggest grossing changes shows that UK home owners are not making the most effective changes when it comes to alterations with a view to increase their property value.

The research showed that although many of those asked would begin to renovate their kitchen area, that was in fact the third highest price enhancing change, with an average price increase of £5,617 being added to the price of the property, however it was actually the converting of a loft space that ran out as the most effective alteration as the average price increase proved to add £20,876 onto the purchase price.

A look at what some of the other suggestions would have added onto the value of a home revealed:

  1. Loft Conversion - £20,876*
  2. Conservatory/Extension - £12,151*
  3. New Kitchen - £5,617*
  4. New Bathroom - £5,265*
  5. Install Double Glazing - £3,351*

* All prices are average figures based on house values at time of survey

The research which was undertaken by UK slide wardrobe door manufacturers SlideWardrobesDirect.co.uk seems to highlight the fact that home owners are more likely to alter areas within their home that they consider to be essential living spaces as standard before thinking about adding further space into a home in order to boost their property value, something that could see them increase the value by an average £15,259.

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