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Mar 28

Will Renovation increase the value of your home?

Posted by CarlHood in Untagged 

I guess this is always going to be a bit of an on-going question but I was interested to see what Whatprice had to say - Pouring cash into home improvements offers no cast-iron guarantee that you will increase your home's value. As a general rule, if you're going to make alterations, then do it because you want to for your own comfort or convenience, rather than to add value. And at the end of the day, many improvements should add to the saleability of your home, and make a huge difference to selling. Probably the most basic rule of all, in this regard, is the one that says you should never -unless you absolutely don't care at all about eventual resale value - improve a house to the point where its desired sales price would be more than 20 percent higher than the most expensive of the other houses in the immediate neighbourhood.

They reckon that  - if you try to raise the value of your house too high by performing major home improvements the surrounding properties will pull its value down. Indeed, some "improvements or renovations" can actually reduce your home's value, and your chances of selling at a good price, say experts.

But it was interesting to note that they think the sure-fire winners, which should pay for themselves and boost saleability when you come to move are: Central Heating it can be expensive to install but future potential purchasers may be put off if you don't have it, so you should recoup your money with this improvement.

And a Garage apparently they are sought after features and will almost certainly recoup an investment.

Read more: Home Improvements - Will they increase the value of your home?


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