Home Improvements increase in popularity

With reports of an improvement in the housing market still few and far between, it appears that home owners are turning to home improvements as a way to increase their chances of a sale. In some cases, extensive home improvements such as extensions have been chosen as an alternative to moving at all.

In a survey carried out by the Halifax, 28 per cent of those asked said that they were planning to undertake some improvement work to their property within the next twelve months. In most cases this is in an attempt to add value. Whilst many felt that the improvements would add less than £5,000 to the value of their home, some 12 per cent thought the increase in value would be between £10,000 and £25,000.

Russell Galley from the Halifax said that making improvements could indeed add value, and could in itself be a rewarding experience. However, he added a note of caution in that improvement made by those who were not competent could be expensive to rectify. He also issued a reminder that planning permission could be required, especially for more ambitious projects, and this much be obtained before work starts.

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