The Potential Value Of Home Renovation
Should you renovate your home so that it ticks all the boxes, or move to a home already completed to your requirements?
Financially it makes a lot more sense to renovate, in the short term you will be paying out a lot less to add a loft to your existing property, than you would if you purchased the same property in the same area with a loft extension already added.
Not only does it often work out cheaper to renovate your currant home, at present the financial returns for renovating can add an attractive percentage to your property value, and there are so many areas that you could consider.
According to HSBC adding an extension to your home can add a staggering 15-20% to the price of the property, and to add a loft conversion the percentage is still highly appealing at 10-15%.
In the following infographic compiled by HSBC you will see further options available regarding home renovation, including the benefits each area would have financially in regards to the increase in the value of the property or the amount saved.
Double glazing and solar power may not grab your attention as the money saved isn’t so apparent, but do remember both are a long term investment where you see the return over a number of years of reduced household bills, and both are highly sort after by potential future home buyers.
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