Study reveals which home improvements add the most value
PUBLISHED: 11:47 28 March 2019 | UPDATED: 12:00 28 March 2019
While most Brits think extensions and new kitchens are the features that add the most value to their homes, estate agents have other ideas.
They say that making a living space open plan is actually the most lucrative home improvement out there, adding an average of £46,503.94 to a property’s value.
A loft conversion is next on their list, with agents saying that they add an average of £24,254.56 to a home’s price tag.
Extensions are third, adding an average of £6,455.57, followed by new kitchens (£3,508.92) and conservatories (£3,155.27).
Anglian Home Improvements quizzed 100 estate agents and 1,000 British adults about their home improvement priorities - and found that the two groups tend to see things very differently.
While open plan living space was top of the agents’ list, only 2 per cent of adults believe it will give the biggest boost to a home’s value.
There was some common ground, however: over a quarter of people (27 per cent) believe an extension will add the most value to a property, while one in four (25 per cent) place the most faith in a new kitchen.
Next on the list of home improvements favoured by average Brits are loft conversions (15 per cent), new windows (8 per cent) and new front doors (7 per cent).
Costas Kariolis, head of digital marketing at Anglian Home Improvements, said: “While some renovations, like creating an open plan living space, add lots of value to a home, other features, such as garage conversions and new bathrooms, are less profitable investments.
“It’s important to keep in mind exactly what people are looking for in a new home. Curb appeal should always be maintained and adding new windows is a great way to impress potential buyers or tenants.”