Bank Holidays Mean Home Improvements For Many Householders

Even with the Royal Wedding or possibly a street party to go to this bank holiday weekend, many householders will be undertaking home improvements instead.

Home improvement projects will be the centre of attention for 40% of us this weekend, according to a survey by HSBC.

The HSBC Home Improvement Survey found that householders across the UK are spending the Bank Holidays redecorating rooms, laying new carpet and giving their garden a makeover before the summer months.

Although redecorating a property can boost it’s value by an average of £3,229, property experts are warning that many home improvements may not increase house values at all.

In contrast, larger projects such as converting the loft, adding a conservatory or building an extension will almost certainly add value to a home, as long as they are built to high standards and finished well.

Projects of this size will probably need to be financed by a home improvement loan or a remortgage, however.

So home owners with time on their hands during bank holidays should primarily be undertaking home improvements to improve their property for their own enjoyment, as Stuart Beattie, Head of Mortgages at HSBC.

“The Bank Holiday weekends are a great opportunity for homeowners to make improvements to their properties.”

“Householders should primarily do the work with the aim of creating a home they can live in and enjoy as there is no guarantee of increasing property value.”