Conservatories 'add value' to homes
Homeowners considering investing in a conservatory may be interested to hear a recent study found the home improvement adds value to properties.
An HSBC survey of residential valuation experts around the UK found the glazed structures to be the third most valuable enhancement that can be made to a home.
While those adding a loft conversion may boost their house's value by an average of £13,567, having a conservatory to enjoy the summer in can also increase the price of a residence by £7,042 on average.
Building an extra room should also add an average of £13,285 to the value of the property, the research found.
Martijn van der Heijden, head of secured lending at HSBC, commented: "Today's challenging housing market is making valuers reconsider previously held assumptions of what home improvements actually add in terms of value."
The least effective way of boosting the value of a home was found to be renewing carpets.
Almost half (49 per cent) of experts agreed this would have no effect on the overall worth of the home.
Meanwhile, a recent moneysupermarket.com poll found 17 per cent of would-be homebuyers are looking for 90 per cent loan-to-value mortgages, despite only six per cent of the available deals falling into this category.
Mortgage market showing 'very positive signs'
11 May 2009
Homeowners in the UK who have invested in a conservatory or kitchen extension to boost the value of their property with the intention of selling have been given some good news.Mortgage specialist Alexander Hall's chief operating officer...
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