Add value to a property or pay a premium? Your call

An article on the About Property website entitled “Boilers, dishwashers and double glazing save energy in the home” stated that research from Halifax published last month shows that nearly one in five people want to move into a house that requires no home improvements.

I find this a remarkable statistic, as buying a home that does not require anything doing to it is very expensive, as you either pay a premium to the property developer who built/rennovated it, or a handsome profit to the householder who did up the property in order to add the value that you end up paying to them!Financially, is it not surely more sensible to be the one who carries out the home improvements, so it is you who benefits from the increase in property value?

Since the start of the recession, there has been a definite increase in homeowners improving rather than moving. We have seen an increase in the number of customers coming into Hazlemere Windows showroom enquiring about new double glazed windows and doors for an extension or loft conversion. In addition, many families have looked at the feasibility of adding a conservatory onto their home to provide much needed extra living space, whether as a dining room, play room, living room or kitchen/dining room.

Adding a conservatory is often a more aesthetically pleased addition to a home than a brick built extension. Not only is it easier to obtain planning permission to build a conservatory, it is also quicker to build and not subject to Building Regulations as long as it is less than 30 square metres, has an independent heating system and there are external doors between the existing house and the conservatory. In addition, a UPVC or aluminium double glazed conservatory is much less expensive and less time consuming than a full blown extension.

A tasteful matching extension, loft conversion or conservatory all add value to any home, whilst providing useful extra living space at far far less than the cost of moving, paying Estate Agents fees, stamp duty and legal fees etc. No wonder, so many UK property owners are not moving but improving!