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Does fitting a new bathroom or kitchen add value to your home? Or should you invest in less 'decorative'
improvements, such as putting in central heating or adding a loft extension? David Spittles, award-winning
property writer, gives some solid advice about the pitfalls and bonuses of spending money on your home
with a view to making a profit...
This year we are likely to spend an amazing £40 billion on home improvements, ranging from simple maintenance
and repair jobs to major projects like building an extension.
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Most improvements are done with an eye to increasing a property's value as well as making your home more
comfortable.
Usually, improvements that add space, like an extension or conservatory, also add value, but there are
pitfalls and, in payback terms, some improvements may not be worth it (see
League Table).
Surveyors are sceptical about indulgent, one-off improvements like stone cladding. They say the priority
should be to bring your house up to a reasonable standard - at least to that of neighbouring homes. A
shoddy home just gives buyers an excuse to negotiate on price; and a neglected home can cause expensive
structural problems to develop.
If you are thinking of putting your home on the market at some point in the future, make sure any
changes you make have an impact. For example, a slick new bathroom makes more of an impression than
a 30-year guaranteed paint finish.
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