Homeowners looking to convert their loft can expect to add an average of £11,000 to the price of their home, a new study has revealed. The latest research from Halifax found that on average people who have recently carried out home improvements report an average increase of £4,806 to the total value of their home, with converting the attic generating the greatest return on investment.
Meanwhile, those going green with a living roof (an Instagram friendly feature) where vegetation or plants are added to the roof of a property, can expect the second most lucrative improvement, raking in an average of £8,676. The top 10 most profitable home improvements also include bi-folding doors (£5,256), garage conversions (£4,847) and renovating period features (£4,731).
Out of the 10 most popular home improvements, making the most of outdoor space is the biggest money spinner, with landscaping reaping a profit of 43% on an average investment of £4,030. While the value of upgrading a property can be attractive, the actual cost of carrying out these works can also be lofty. The average cost is £22,200 according to those who have already or are planning to transform their attic. For those looking to add the most value on a lower budget, installing bi-folding could help home improvers create an impressive 56% profit, according to the poll.
The study found that social media has the magic touch for younger people when it comes to home improvement inspiration. Almost 38% of 18-34 year-olds have been influenced to carry out work by social media, compared 22% of 35-44 year-olds, and fewer than one in 10 of those aged 55–64 (7%).
Table 1: Top 10 most profitable upgrades
Renovated/restored period features
Add or remove garage
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