Loft conversions are 'a sound investment option'
Published On 4 June 2007
People and estate agents have very different ideas about what home improvements represent the best value investment of a homeowner loan.Many people think that using a homeowner loan to finance additions to their property could add value when it comes to sell it.
However, research from GE Money Home Lending shows that homeowners and estate agents have different opinions about what improvements represent the best value for money.
Most homeowners mistakenly believe that a new bathroom or kitchen would add the most value and so be the best way to invest a homeowner loan.
However, estate agents think that loft conversions and extension could add £28,000 value to most homes and over £45,000 to properties in London.
"Homeowners planning improvements to their homes this summer to specifically increase the value of their property could be missing out on the most valuable additions," explained Giacomo Gigantiello, of GE Money.
"At a time of year when many are planning to improve the value and desirability of their homes, it is important that consumers appreciate and establish DIY and renovation tasks which will add the most equity to their particular home."
The study also revealed that improvements such as new garden decking are not sensible ways to invest a homeowner loan as they add little value to a property.
