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Green home improvements provide best return on investment, says survey
14/07/09
Straightforward home improvements that enhance a property's energy efficiency and green credentials provide the best return on investment for households, according to a new report from Halifax. The mortgage lender's Home Improvement Survey found that fuel efficient and energy saving measures are seen as the best performing property enhancement, costing an average of £1,722 but adding £4,327 to the value of a home.
Adding security measures was the next best investment, followed by redecorating. Both were perceived to add twice as much to a house price as their initial cost, Halifax said.
Garden improvements, which were found to be the cheapest way of enhancing a home at an average cost of £857, came fourth, ahead of a loft conversion.
In terms of adding the most to a property's value regardless of cost, extensions came top as they boost house prices by an average of £25,590. A loft conversion was next (£24,981), followed by a new kitchen (£7,666).
According to the New Homes Marketing Board, energy efficiency and environmentally-friendly design are now ranked as more important factors than location and overall value for money among new buyers.
Property owners looking to carry out home improvements can find recommended builders, gardeners, electricians and plasterers through Rated People.
