A conservatory 'is a good use of a homeowner loan'
Published On 24 July 2007
Using a homeowner loan to finance the building of a conservatory could be a sensible investment, an industry expert has suggested.Steve Lees, head of marketing at SmartNewHomes, explained that, "by definition" the extra space that a conservatory adds would increase the value of a property.
"In terms of [building] extensions or conservatories to have extra space rather than move to a bigger home … it will add a level of value to the house," Mr Lees said.
He added people were increasingly using homeowner loans to make sure their extension was as environmentally friendly as possible.
"There always has been an obligation to be environmentally friendly in terms of modern methods of construction," he explained.
"Equally, the government is trying to push carbon-free homes … so there is always going to be a slant towards that. And that can only be a good thing really."
In June, GE Money Home Lending published data which showed that using a homeowner loan to finance a loft conversion could also be a profitable investment.
A loft conversion typically adds £22,300 to the value of a property - while a conversion like a conservatory increased value by £19,271.
