Fitting new boilers gives the biggest home improvement investment return
Fitting new boilers or heating systems gives the biggest return on home improvement investment, self storage firm Safestore has found.
With an average cost of £1,300, new boilers/heating systems can boost your home’s value by almost 2%, and have the biggest return on investment. Refurbished kitchens and lofts can bolster a home’s value by over 8% but their respective level of investment places them slightly lower.
A renovated garage or storage area can set you back up to £7,000, but offer less than 1% of a home value increase in return, which ranks only above solar panels in terms of return on investment (0.5%). You can view now and find the best home improvements company.
The study goes into more depth to find how popular these different home features are in different parts of the UK based on property listing sites.
In terms of renovating, lofts are often on the pricier side, but 37% of Bristol homes see their value, as well as just under a third of homes in both Birmingham and Cardiff.
Edinburgh (17%) and Leeds (14%) boast the highest proportion of extensions listed, with a UK average of 11%.
While northern property values average a lot lower than many other UK cities, homes in Newcastle and Leeds add 50% to the value of their home with every bedroom added, according to the prices shown on Zoopla.
Outside of the top two, Cardiff and Glasgow offer the highest increase in property value per added bedroom, adding over £65,000 to the average listing.
In London the value of a one-bed is higher than two-bedroom properties in any other part of the country, with the price of a home in the capital increasing by over £200,000 for an additional room.