DIY is not worth the money, says survey
Adding a conservatory is the only home improvement to add more value to property prices than a year ago, according to the annual home improvement survey by HSBC.
As house prices stall, converting the loft or fitting a new kitchen adds significantly less than 12 months ago, but a new conservatory could boost a property’s value by 14 per cent more than a year ago.
“A new conservatory can add twice the added value as a similarly priced kitchen,” says Allan Tofield of Dorset-based Richmond Home Improvement Co.
“Obviously money is tight at the moment and we’re all trying to spend it wisely, but while a new bathroom would cost less than a conservatory it adds a lot less to the value of a home.
“House prices are being squeezed so homeowners are more likely to improve their existing house rather than move and if they want to add value to the home it makes sense to look at a conservatory supplied and fitted by a reputable local company.”
The survey also shows added value from DIY improvements such as decorating or recarpeting a home is less than it was a year ago, even though the cost of carrying out such work is likely to have increased.
“Homeowners need to think carefully about the type and extent of home improvements,” says Allan.
“In my experience, home improvements such as a new conservatory which will enhance the quality of lifestyle, provide extra living space while retaining broad appeal will add real value to your home.”