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Home Improvements….

Property Market News

Home Improvements….

Many home improvements can cost more than the value they add according to new research by buying agent Henry Pyror and GoCompare Home insurance.

Improvements such as new flooring and replacing kitchens and bathrooms (the most popular home improvements) are unlikely to yield a profit for many homeowners. At £7,000 the average cost of a new kitchen, is twice as expensive as the estimated value it adds to a property.

In comparison, energy improvements, such as a new boiler or central heating system, can increase the price of a property by close to 4%, the equivalent to just over £9,000. A new boiler costs around £2,000, providing the householder with a net profit of close to £7,000.

While a fresh coat of paint may add little to the value of a property, such improvements can undoubtedly encourage prospective buyers through the door.

 

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My name is Luke St Clair, If you would like to chat about the Leicester Property Market, whether you are a buyer, seller, landlord or tenant – then give me a call or email me. Just drop me a call on 07917 899 495 or email me at luke.stclair@knightsbridge-estates.co.uk

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