Home improvements 'pay back more than they cost'

Date:Wednesday 11th November 2009
Author: Max Freedman

Making simple home improvements can increase a property's value above the cost of the changes, according to an expert.

TV presenter and editor Michael Holmes said basic alterations, like fixing leaking roofs, repairing plumping and adding central heating can improve the value of a home.

He added that giving a house a makeover by bringing the decoration up to date and tidying the garden can add between three and five per cent to the value, without the need to make any large structural or layout changes.

Mr Holmes suggested that in areas of restricted parking "sacrificing part of the front garden for an off-road parking space or two can make a huge difference, particularly in an urban area".

Additionally, for those looking to invest in their homes in the long term, adding a solar panel to the roof will pay for itself in reduced bills after around 15 years and the energy savings will continue.

The comments followed the release of figures from Lloyds TSB Insurance that showed one in ten homeowners carried out improvements in a bit to increase its value.

However, 66 per cent who made changes without professional help admit to not following building industry guidelines.