According to lending platform Zopa, conservatories represent the best value with an ROI of 108 per cent, followed by garden improvements (88 per cent), exterior work (75 per cent), an extension (71 per cent), roof improvements (63 per cent), floor carpets (50 per cent), loft work (50 per cent), kitchen changes (49 per cent) and redoing the bathroom (48 per cent).
Giles Andrews, chief executive officer and co-founder of Zopa, noted that people can add “significant value” to their properties if they consider upgrading certain parts of the house. “With record low rates on borrowing, home improvements can be a cost-effective way to add value to your property for the long-term,” he went on to add.
When it comes to carrying out these home improvements, however, it would be worth calling in the professionals. Recent figures from LV= revealed that in the last five years two million people have botched a DIY job and one in 20 have had to call out a professional to come and fix it.
As a result, £67 million has been paid out in order to repair DIY disasters, with painting and decorating the job most likely to go wrong, so if you’re looking to make money from your renovation work, consider calling in the experts first before having a go yourself.