Estate agents, property surveyors, interior decorators, an online services marketplace and other housing experts have teamed up to reveal home renovations that add the most value to a property.
From kitchen improvements to building a loft conversion, the top tips highlight some of the most valuable home improvements that could add thousands of pounds to the value of the average property.
The research found that property owners could add £130,900 by spending £70,200 on a wide range of home improvements.
According to the experts, the most valuable addition is an en-suite bathroom, costing on average £2,000, yet increasing the value of a property by £5,000. If a homeowner was willing to do extensive building work, a loft conversion yields the highest return on average.
Some of the most valuable home improvements include:
Ensuite bathroom - costs £2,000, adds £5,000 to your home on average
Open fireplace - costs £1,500, adds £3,000 to your home on average
Garage - costs £13,000, adds £25,000 to your home on average
Modern fitted kitchen - costs £5,000, adds £10,000 to your home on average
Loft conversion - costs £20,000, adds £43,000 to your home on average
Kai Feller, co-founder of Bark.com, which took part in the research, commented: “Selling a house can be a complicated process, especially when it comes to trying to please potential buyers. However, there are several steps homeowners can take to add as much value to a property as possible.
“We’ve been monitoring the demand of our home improvement service providers and decided to do some research into the effect these services have on house prices. Some of these changes are small, such as adding an ensuite or a fitted wardrobe, but research has shown that they really do make a huge difference to potential buyers.”