Halifax ranks home improvement returns
Halifax is recommending that “straightforward” home improvements are most likely to offer the highest return in terms of adding value to a home.
According to the lender’s research, fuel efficiency and energy saving measures head the list, with the potential for more than double the amount laid out to be reflected in a property’s value.
Home security measures and redecorating follow. Garden improvements rank fourth and loft conversions fifth.
Although an extension or an extra room are perceived as adding the most to a property’s value, they are also the home improvements people are willing to pay the most for and therefore fall outside the top five in terms of the best return on investment.
Other improvements to avoid in terms of recouping outlay are laminate flooring, new carpets, upgrades to the central heating system, new windows and double glazing and new fitted bedrooms.
Considering the findings, Lloyds Banking Group commercial director, Stephen Noakes, points out: “Energy efficiency measures may not only entice the ‘green’ buyer, but will also help to reduce heating bills and improve a home’s energy efficiency, a report on which is part of the Home Information Pack.”
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