Loft extensions 'add most value to homes'
Date: 26/06/2008 12:00:00
Property owners looking to improve their homes and maintain values should look to their lofts, a survey suggests.
A study by GE Money found a loft extension could increase a house's value by more than 12 per cent, adding £22,898 to the average spread.
More common work such as adding an extra room with an extension or building a conservatory also result in good gains.
GE Money said: "When it comes to other less costly and dramatic improvements - such as installing a new bathroom suite, redecorating or laying a patio, there are still good returns but they are naturally lower."
The combined trio of a loft conversion, extension and conservatory could add a total of £54,922 to the value of a home, the research found.
However, eco-improvements are still not hot property, with the poll of estate agents showing solar panels up the value by only £1,500.
Sainsbury's Bank recently said people looking to inject value into their homes amid falling house prices should contact their
home insurance provider before attempting DIY.