Specialist storage and shelving supplier BigDUG recently reviewed an HSBC survey that cited some DIY home improvements as being potentially lucrative in terms of the value of a home. Loft conversions topped out at the top of the survey, with the average loft conversion adding around £20,100 to property value (an increase of 54% since the previous survey in 2009)
According to BigDUG, the modern buyer is looking for a good all-round investment, and is willing to pay a little extra for the privilege of avoiding tiresome tasks such as fitting a new bathroom etc. HSBC experts seem to be in agreement; the modern buyer is less interested in “fixer-uppers”
According to experts questioned by HSBC, small DIY jobs (e.g. fitting metal racking in the garage for highly efficient storage) can also boost the price of a property. Common recommendations include fixing plasterwork, making sure carpet is fitted properly, repainting window frames, concealing errant wires and clearing up the garden.
In the end though, findings from the HSBC survey recommended that a thorough de-clutter could be the most effective low cost option for homeowners in terms of making a sale. Also on the table (recommended by 85% of the experts questioned) was a simple lick of paint, with the majority of experts extolling the virtues of a freshly painted front door and simply painted internal walls/features as being as being a highly effective selling tool. The moral of the HSBC survey? First impressions count!
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