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Added Value to Lifestyle, added value to your home!
If you are looking to add value to your home as well as your lifestyle, below are the top ten improvements to increase a homes value, according to a recent survey carried out by GE Home Lending with Estate Agents.
The prices are calculated on the average amount added across Britain, so some areas will fare better than others.
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Loft conversion |
£22,300 |
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Add an extension |
£19,271 |
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Build a conservatory |
£11,904 |
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New kitchen |
£8,250 |
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Add central heating |
£6,147 |
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Windows |
£5,239 |
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New bathroom |
£5,155 |
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Redecorate |
£4,576 |
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Resurface the driveway |
£3,928 |
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Add decking to the garden (not including landscaping) |
£3,617 |
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Best value improvements also differ depending on where you live. For
example in densely populated areas of London and the South East a loft
conversion has the best potential whereas in Yorkshire, a conservatory
backing on to open spaces benefits properties the most.
Source: GE Money Home Lending June 2007
Looking to add value to your home?
Give
Redd Chilli a call today for FREE impartial advice and a written quotation
on 0845 0345 131.
Love your home!
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The Top 10 home improvements
as surveyed by Barclays Bank Jan 2005.
| 1. Central
heating |
Costing up to £6,000 to install, this is
an expensive upheaval, but can easily make the difference between
a sale and no sale. Options for heating systems include oil-fired,
gas and electric. The cheapest to run is gas and the most expensive
is electric, though this could change with the advent of renewable
sources such as solar and wind farms. Oil systems can be expensive
to run and require the biggest, heaviest boilers and a large
storage tank of between 200 and 3,000 litres.
Value factor: 10/10 |
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| 2. Kitchens and bathrooms |
Go for the best you can afford, but don't splash out unnecessarily.
Kitchen cupboards are usually a standard size, so it may be
possible to fit new doors onto existing units.
Value factor: 7.5/10 |
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| 3. Insulation |
It might seem like a long-term investment which only makes
sense if you're staying in your house rather than selling it,
but lagging the loft to the regulation six inches is worthwhile,
and if the market slowdown means you have to spend an extra
winter in the house, at least your fuel bills will be lower.
Value factor: 7/10 |
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| 4. Loft conversion |
This involves strengthening the floor and cutting holes in
the building, so it's only worthwhile if done well. If you
don't have a passion and a clear vision for the project, get
the planning permission and some quotes, clean out the loft
and then sell the idea of a conversion. If you go ahead, use
a specialist builder.
Value factor: 7/10 |
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| 5. Building a garage |
Particularly in crowded cities, this is a great way to add
value to your home, though ironically so is converting an existing
garage into a habitable room, which is relatively cheap and
straightforward. It's only advisable if you have a driveway
to park on.
Value factor: 7/10 |
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| 6. Creating a study |
Eight out of 10 households have a home computer, so a study
can be a selling point. Ideally, dedicate a small room to it,
though cupboards under the stairs can sometimes be opened up
sufficiently to contain a desk.
Value factor: 7/10 |
| 7. Exteriors |
Keep your front yard tidy. Walking past overflowing bins
will turn off buyers. Guttering that is less than perfect is
instantly noticeable, but usually cheap and easy to put right.
Cracked or faded plastic ducting should be replaced, peeling
paint should be addressed, and broken gates mended.
Value factor: 6/10 |
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| 8. Decorating |
Don’t be sloppy with your paintwork, and make sure
that your home insurance covers DIY accidents, as 40% of us
admit to having spilled paint on the carpet.
Value factor: 6/10 |
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| 9. New windows and
doors |
This is a professional job. Windows make very ugly holes
when they are taken out, which can daunt even a determined
DIYer, and doors which seem easy to hang can very quickly turn
into waste material by misguided planing.
Value factor: 5/10 |
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| 10. Swimming pools |
If you have the space in your garden, a heated swimming pool
can be a good investment. Prices have come down and solar technology
means that you can offer an attractive self-sufficient package,
though the installation costs may still be daunting.
Value factor: 4/10 |
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Brits pick property over pensions
Extract from myfinances.co.uk – pension news
Monday, 21 May 2007 09:49
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Britons are losing faith in pension funds, preferring to invest in property, research shows.
The majority of UK residents questioned said they worry their personal or occupational pension will fold and take their money with it, two people in five are also worried whether their pension fund will offer enough cash for them to live on in retirement.
By contrast, recent performance in house prices means ever more Britons are putting their faith as well as their cash in bricks and mortar.
One adult in five has already invested in property to help fund their retirement, with another 30 per cent looking to do so in the future.
Overall, three quarters of UK adults believe property is a better investment than a pension fund, while one retired Briton in ten already has a property helping them fund their lifestyle.
"Investing in a property allows you to put money into something you can see, rather than paying it into a pension scheme wondering if you will see it again," said
Brett Wood, managing director of YourPropertyClub.com, the company that conducted
the research.
However, fears over pensions and the high price of property mean 42 per cent of Britons have not made any plans to fund their retirement, with more than one in four 50 to 60-year-olds having no money set aside.
Two UK residents in five put off pension plans as retirement 'seems ages away', while 22 per cent plan to earn more later on. |
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